1.  Overview the trade of LATVIA in goods current year until 202011

According to Dalian Infobank, in 202011, LATVIA's exports and imports of goods amounted to 3277.6599 million, and were up 13.09% comparing with the same period of last year. Among these, exports were up 15.31% at 1599.4214 million, and imports were up 11.05% at 1678.2385 million. And the corresponding trade deficit was 78.8171 million and down 36.55%.

During the current year until 202011, LATVIA's total exports and imports of goods were 31105.5901 million and were down 2.03% comparing to the same period of last year. Among these, exports were 14654.0742 million and up 1.39%; imports were 16451.5159 million and down 4.89%. The total trade deficit was 1797.4417 million and down 36.80%.

If considering by country (region), LITHUANIA, ESTONIA, RUSSIA, GERMANY, POLAND were LATVIA's top five trading partners. During the current year until 202011, LATVIA's imports and exports to five countries/territories were 5121.8828 million, 3022.2452 million, 2911.3210 million, 2725.7392 million, 2138.6289 million. These values correspond to 16.47%, 9.72%, 9.36%, 8.76%, 6.88% of LATVIA's imports and exports, and, respectively, were down 2.37%, down 1.63%, down 9.83%, down 6.31%, up 3.73% comparing to the same period of last year.

Current year until 202011, 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 202011, LATVIA's exports to these five countries/territories were 2263.4800 million, 1869.0553 million, 1654.4198 million, 1014.8914 million, 802.0476 million. These values correspond to 15.45%, 12.75%, 11.29%, 6.93%, 5.47% of LATVIA's exports and, respectively, were down 1.36%, down 6.65%, up 2.52%, up 2.36%, down 10.22% comparing with the same period of last year.

Current year until 202011, 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 202011, LATVIA's imports from these five countries/territories were 2858.4028 million, 1710.8478 million, 1615.8422 million, 1367.8255 million, 1042.2657 million. These values correspond to 17.37%, 10.40%, 9.82%, 8.31%, 6.34% of LATVIA's total imports and, respectively, were down 3.15%, down 10.79%, up 3.44%, down 6.22%, down 15.01% comparing with the same period of last year.

During the current year until 202011, the trade surplus of LATVIA was mainly from RUSSIA, UNITED KINGDOM, ESTONIA, DENMARK, SWEDEN at 826.7895 million, 301.7676 million, 286.5943 million, 266.2267 million, 248.7542 million, and up 6.56%, down 1.11%, up 84.65%, up 24.82%, down 23.60%. And the trade deficits were mainly from POLAND, GERMANY, LITHUANIA, CHINA, ITALY at 1093.0556 million, 695.9563 million, 594.9229 million, 498.0390 million, 463.6529 million, and up 2.88%, down 24.86%, down 9.38%, up 36.22%, down 1.52%.

Current year until 202011, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202011,  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 3746.4783 million, 2910.6071 million, 2664.2166 million, 1752.1659 million, 1685.3502 million, which were up 16.72%, down 2.85%, up 0.61%, down 2.35%, down 21.15% comparing with the same period of last year and account for 12.04%, 9.36%, 8.57%, 5.63%, 5.42% of LATVIA's total imports and exports.

During the current year until 202011, 44, 85, 84, 22, 10 were LATVIA's top five traded commodities, with total import and export values of 2278.2388 million, 1736.9932 million, 1006.8332 million, 864.7266 million, 653.3258 million. These values correspond to 15.55%, 11.85%, 6.87%, 5.90%, 4.46% of LATVIA's total exports and, respectively, were down 3.75%, up 19.17%, up 5.44%, down 7.17%, up 21.44% comparing to the same period of last year.

During the current year until 202011, 85, 84, 87, 27, 22 were LATVIA's top five traded commodities, with total import values of 2009.4852 million, 1657.3834 million, 1076.0414 million, 1029.9370 million, 887.4393 million. These values correspond to 12.21%, 10.07%, 6.54%, 6.26%, 5.39% of LATVIA's total exports and, respectively, were up 14.68%, down 2.11%, down 22.31%, down 32.93%, up 2.85% comparing to the same period of last year.

2. Current year until 202011, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202011, LATVIA-China binational exports and imports of goods amounted to 833.8561 million and were up 19.79% comparing with the same period of last year. Among these, exports from LATVIA to China were 167.9085 million and up 1.61%, imports from China to LATVIA were 665.9476 million and up 25.45%. The total binational trade deficit was 498.0390 million and up 36.22%.

During the urrent year until 202011, 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 285.5482 million, 78.8707 million, 67.7009 million, 40.0410 million, 36.0336 million and makes up 34.24%, 9.46%, 8.12%, 4.80%, 4.32% of the total binational imports and exports. These values were also up 28.32%, up 16.64%, down 23.60%, up 390.50%, down 5.20% comparing to the same period last year.

During the current year until 202011, 44, 27, 85, 08, 87 were the top five traded commodities exported to China from LATVIA, with export values of 65.4729 million, 22.7685 million, 14.6458 million, 11.7189 million, 8.5918 million. These values account for 38.99%, 13.56%, 8.72%, 6.98%, 5.12% of LATVIA's total exports and were down 24.46%, up 4.73%, up 14.27%, up 7.93%, up 243.52% comparing to the same period of last year.

During the current year until 202011, 85, 84, 63, 94, 40 were LATVIA's top five traded commodities importing from China , with import values of 270.9025 million, 75.1426 million, 39.9816 million, 33.8675 million, 31.1272 million. These values account for 40.68%, 11.28%, 6.00%, 5.09%, 4.67% of LATVIA's total imports and were up 29.18%, up 17.84%, up 397.85%, down 4.20%, up 22.21% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat