1.  Overview the trade of LATVIA in goods current year until 202010

According to Dalian Infobank, in 202010, LATVIA's exports and imports of goods amounted to 3416.0318 million, and were up 10.29% comparing with the same period of last year. Among these, exports were up 13.61% at 1664.8014 million, and imports were up 7.30% at 1751.2303 million. And the corresponding trade deficit was 86.4289 million and down 48.18%.

During the current year until 202010, LATVIA's total exports and imports of goods were 27827.9302 million and were down 3.55% comparing to the same period of last year. Among these, exports were 13054.6528 million and down 0.08%; imports were 14773.2774 million and down 6.41%. The total trade deficit was 1718.6246 million and down 36.81%.

If considering by country (region), LITHUANIA, ESTONIA, RUSSIA, GERMANY, POLAND were LATVIA's top five trading partners. During the current year until 202010, LATVIA's imports and exports to five countries/territories were 4598.4860 million, 2707.6727 million, 2588.2701 million, 2452.7205 million, 1927.4490 million. These values correspond to 16.52%, 9.73%, 9.30%, 8.81%, 6.93% of LATVIA's imports and exports, and, respectively, were down 3.82%, down 3.25%, down 10.47%, down 7.31%, up 2.33% comparing to the same period of last year.

Current year until 202010, 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 202010, LATVIA's exports to these five countries/territories were 2022.8375 million, 1641.9757 million, 1472.1718 million, 913.9482 million, 733.4093 million. These values correspond to 15.50%, 12.58%, 11.28%, 7.00%, 5.62% of LATVIA's exports and, respectively, were down 3.18%, down 6.90%, up 0.34%, up 2.12%, down 9.72% comparing with the same period of last year.

Current year until 202010, 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 202010, LATVIA's imports from these five countries/territories were 2575.6485 million, 1538.7722 million, 1453.0475 million, 1235.5008 million, 946.2944 million. These values correspond to 17.43%, 10.42%, 9.84%, 8.36%, 6.41% of LATVIA's total imports and, respectively, were down 4.32%, down 12.13%, up 1.87%, down 7.20%, down 16.06% comparing with the same period of last year.

During the current year until 202010, the trade surplus of LATVIA was mainly from RUSSIA, UNITED KINGDOM, ESTONIA, SWEDEN, DENMARK at 695.6813 million, 270.9743 million, 236.6710 million, 233.0939 million, 223.4690 million, and up 9.32%, down 6.18%, up 74.17%, down 21.50%, up 17.20%. And the trade deficits were mainly from POLAND, GERMANY, LITHUANIA, CHINA, ITALY at 978.6459 million, 624.8240 million, 552.8109 million, 446.4653 million, 415.6535 million, and up 0.96%, down 27.03%, down 8.28%, up 33.33%, down 3.02%.

Current year until 202010, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202010,  commodities with hs2 codes, 85, 44, 84, 22, 87, were LATVIA's top five traded commodities. They correspond to the import and export values of 3292.8626 million, 2603.6544 million, 2387.4342 million, 1527.8922 million, 1506.8081 million, which were up 14.68%, down 5.20%, down 1.16%, down 3.14%, down 23.23% comparing with the same period of last year and account for 11.83%, 9.36%, 8.58%, 5.49%, 5.41% of LATVIA's total imports and exports.

During the current year until 202010, 44, 85, 84, 22, 10 were LATVIA's top five traded commodities, with total import and export values of 2040.7295 million, 1532.1488 million, 898.5344 million, 748.5600 million, 574.8521 million. These values correspond to 15.63%, 11.74%, 6.88%, 5.73%, 4.40% of LATVIA's total exports and, respectively, were down 6.14%, up 17.09%, up 4.11%, down 6.46%, up 15.14% comparing to the same period of last year.

During the current year until 202010, 85, 84, 87, 27, 22 were LATVIA's top five traded commodities, with total import values of 1760.7138 million, 1488.8999 million, 964.9301 million, 932.4116 million, 779.3322 million. These values correspond to 11.92%, 10.08%, 6.53%, 6.31%, 5.28% of LATVIA's total exports and, respectively, were up 12.66%, down 4.09%, down 24.12%, down 35.10%, up 0.29% comparing to the same period of last year.

2. Current year until 202010, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202010, LATVIA-China binational exports and imports of goods amounted to 752.9188 million and were up 17.67% comparing with the same period of last year. Among these, exports from LATVIA to China were 153.2267 million and up 0.47%, imports from China to LATVIA were 599.6921 million and up 23.05%. The total binational trade deficit was 446.4653 million and up 33.33%.

During the urrent year until 202010, 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 253.1774 million, 70.7095 million, 61.2702 million, 38.8881 million, 31.9875 million and makes up 33.63%, 9.39%, 8.14%, 5.16%, 4.25% of the total binational imports and exports. These values were also up 26.02%, up 15.40%, down 25.61%, up 399.26%, down 9.07% comparing to the same period last year.

During the current year until 202010, 44, 27, 85, 08, 87 were the top five traded commodities exported to China from LATVIA, with export values of 59.1664 million, 21.3183 million, 13.0414 million, 9.9899 million, 8.3955 million. These values account for 38.61%, 13.91%, 8.51%, 6.52%, 5.48% of LATVIA's total exports and were down 26.57%, up 2.94%, up 15.37%, up 8.32%, up 249.99% comparing to the same period of last year.

During the current year until 202010, 85, 84, 63, 94, 40 were LATVIA's top five traded commodities importing from China , with import values of 240.1360 million, 67.1818 million, 38.8287 million, 29.9367 million, 27.6962 million. These values account for 40.04%, 11.20%, 6.47%, 4.99%, 4.62% of LATVIA's total imports and were up 26.66%, up 15.71%, up 407.12%, down 8.45%, up 13.82% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat