1.  Overview the trade of LATVIA in goods current year until 202007

According to Dalian Infobank, in 202007, LATVIA's exports and imports of goods amounted to 2901.7686 million, and were down 2.58% comparing with the same period of last year. Among these, exports were up 0.04% at 1291.6721 million, and imports were down 4.58% at 1610.0965 million. And the corresponding trade deficit was 318.4244 million and down 19.65%.

During the current year until 202007, LATVIA's total exports and imports of goods were 18035.7303 million and were down 9.42% comparing to the same period of last year. Among these, exports were 8405.8299 million and down 5.69%; imports were 9629.9005 million and down 12.45%. The total trade deficit was 1224.0706 million and down 41.33%.

If considering by country (region), LITHUANIA, ESTONIA, RUSSIA, GERMANY, POLAND were LATVIA's top five trading partners. During the current year until 202007, LATVIA's imports and exports to five countries/territories were 2968.8731 million, 1783.8606 million, 1667.1566 million, 1605.8520 million, 1272.6339 million. These values correspond to 16.46%, 9.89%, 9.24%, 8.90%, 7.06% of LATVIA's imports and exports, and, respectively, were down 8.85%, down 8.86%, down 12.74%, down 13.51%, down 5.06% comparing to the same period of last year.

Current year until 202007, LATVIA and the top five trade partners LITHUANIA, RUSSIA, ESTONIA, GERMANY, SWEDEN are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202007, LATVIA's exports to these five countries/territories were 1315.7048 million, 1022.7524 million, 982.3949 million, 585.5533 million, 518.2073 million. These values correspond to 15.65%, 12.17%, 11.69%, 6.97%, 6.16% of LATVIA's exports and, respectively, were down 9.28%, down 8.96%, down 2.63%, down 5.78%, down 9.57% comparing with the same period of last year.

Current year until 202007, LATVIA's exports to top five countries/territories LITHUANIA, GERMANY, POLAND, ESTONIA, RUSSIA are the top five countries/territories that LATVIA imports from in terms of the total export amount. During the current year until 202007, LATVIA's imports from these five countries/territories were 1653.1683 million, 1020.2987 million, 952.3279 million, 801.4657 million, 644.4041 million. These values correspond to 17.17%, 10.60%, 9.89%, 8.32%, 6.69% of LATVIA's total imports and, respectively, were down 8.50%, down 17.41%, down 5.06%, down 15.48%, down 18.14% comparing with the same period of last year.

During the current year until 202007, the trade surplus of LATVIA was mainly from RUSSIA, SWEDEN, ESTONIA, UNITED KINGDOM, NORWAY at 378.3483 million, 188.1046 million, 180.9292 million, 172.1624 million, 144.7603 million, and up 12.53%, down 13.33%, up 198.03%, down 18.73%, down 14.71%. And the trade deficits were mainly from POLAND, GERMANY, LITHUANIA, CHINA, ITALY at 632.0218 million, 434.7454 million, 337.4634 million, 285.7803 million, 264.6210 million, and down 5.06%, down 29.17%, down 5.30%, up 22.96%, down 7.22%.

Current year until 202007, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202007,  commodities with hs2 codes, 85, 44, 84, 87, 27, were LATVIA's top five traded commodities. They correspond to the import and export values of 2110.1934 million, 1770.5898 million, 1557.6954 million, 1016.9535 million, 910.1905 million, which were up 7.84%, down 10.65%, down 8.36%, down 28.48%, down 35.52% comparing with the same period of last year and account for 11.70%, 9.82%, 8.64%, 5.64%, 5.05% of LATVIA's total imports and exports.

During the current year until 202007, 44, 85, 84, 22, 87 were LATVIA's top five traded commodities, with total import and export values of 1403.7049 million, 986.6225 million, 568.6632 million, 436.3799 million, 367.3368 million. These values correspond to 16.70%, 11.74%, 6.77%, 5.19%, 4.37% of LATVIA's total exports and, respectively, were down 10.95%, up 10.19%, down 4.50%, down 9.82%, down 25.81% comparing to the same period of last year.

During the current year until 202007, 85, 84, 87, 27, 22 were LATVIA's top five traded commodities, with total import values of 1123.5709 million, 989.0323 million, 649.6167 million, 590.9518 million, 455.5880 million. These values correspond to 11.67%, 10.27%, 6.75%, 6.14%, 4.73% of LATVIA's total exports and, respectively, were up 5.85%, down 10.45%, down 29.91%, down 38.54%, down 8.26% comparing to the same period of last year.

2. Current year until 202007, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202007, LATVIA-China binational exports and imports of goods amounted to 497.3859 million and were up 9.90% comparing with the same period of last year. Among these, exports from LATVIA to China were 105.8028 million and down 3.88%, imports from China to LATVIA were 391.5831 million and up 14.33%. The total binational trade deficit was 285.7803 million and up 22.96%.

During the urrent year until 202007, commodities with hs2 code, 85, 84, 44, 63, 94, were binational trade's top five traded commodities. They correspond to import and export values of 159.0688 million, 46.7898 million, 41.3990 million, 35.8984 million, 21.1324 million and makes up 31.98%, 9.41%, 8.32%, 7.22%, 4.25% of the total binational imports and exports. These values were also up 13.33%, up 1.76%, down 34.72%, up 568.39%, down 18.34% comparing to the same period last year.

During the current year until 202007, 44, 27, 85, 08, 87 were the top five traded commodities exported to China from LATVIA, with export values of 40.0158 million, 16.7978 million, 9.1285 million, 6.2449 million, 4.6846 million. These values account for 37.82%, 15.88%, 8.63%, 5.90%, 4.43% of LATVIA's total exports and were down 35.62%, up 7.55%, up 27.55%, up 60.50%, up 221.12% comparing to the same period of last year.

During the current year until 202007, 85, 84, 63, 94, 40 were LATVIA's top five traded commodities importing from China , with import values of 149.9404 million, 44.2781 million, 35.8396 million, 19.7460 million, 15.5805 million. These values account for 38.29%, 11.31%, 9.15%, 5.04%, 3.98% of LATVIA's total imports and were up 12.56%, down 0.10%, up 584.10%, down 18.14%, up 35.22% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat