1.  Overview the trade of LATVIA in goods current year until 202012

According to Dalian Infobank, in 202012, LATVIA's exports and imports of goods amounted to 3363.9994 million, and were up 15.44% comparing with the same period of last year. Among these, exports were up 21.69% at 1523.4734 million, and imports were up 10.74% at 1840.5260 million. And the corresponding trade deficit was 317.0526 million and down 22.69%.

During the current year until 202012, LATVIA's total exports and imports of goods were 34469.5895 million and were down 0.56% comparing to the same period of last year. Among these, exports were 16177.5476 million and up 3.01%; imports were 18292.0419 million and down 3.52%. The total trade deficit was 2114.4944 million and down 35.02%.

If considering by country (region), LITHUANIA, ESTONIA, RUSSIA, GERMANY, POLAND were LATVIA's top five trading partners. During the current year until 202012, LATVIA's imports and exports to five countries/territories were 5611.8207 million, 3329.6573 million, 3239.3927 million, 2982.3974 million, 2339.4563 million. These values correspond to 16.28%, 9.66%, 9.40%, 8.65%, 6.79% of LATVIA's imports and exports, and, respectively, were down 1.24%, up 0.19%, down 7.99%, down 5.69%, up 5.06% comparing to the same period of last year.

Current year until 202012, LATVIA and the top five trade partners LITHUANIA, RUSSIA, ESTONIA, GERMANY, UNITED KINGDOM are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202012, LATVIA's exports to these five countries/territories were 2482.6246 million, 2102.7537 million, 1822.1217 million, 1097.9824 million, 867.6810 million. These values correspond to 15.35%, 13.00%, 11.26%, 6.79%, 5.36% of LATVIA's exports and, respectively, were up 0.15%, down 4.93%, up 4.30%, up 3.20%, up 6.00% comparing with the same period of last year.

Current year until 202012, 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 202012, LATVIA's imports from these five countries/territories were 3129.1962 million, 1884.4150 million, 1768.9987 million, 1507.5356 million, 1136.6390 million. These values correspond to 17.11%, 10.30%, 9.67%, 8.24%, 6.21% of LATVIA's total imports and, respectively, were down 2.32%, down 10.20%, up 4.71%, down 4.37%, down 13.16% comparing with the same period of last year.

During the current year until 202012, the trade surplus of LATVIA was mainly from RUSSIA, UNITED KINGDOM, ESTONIA, DENMARK, SWEDEN at 966.1146 million, 325.2162 million, 314.5861 million, 301.9099 million, 265.3193 million, and up 7.00%, up 7.13%, up 84.40%, up 25.64%, down 22.38%. And the trade deficits were mainly from POLAND, GERMANY, LITHUANIA, CHINA, ITALY at 1198.5412 million, 786.4327 million, 646.5716 million, 546.5833 million, 532.0799 million, and up 4.03%, down 23.99%, down 10.76%, up 40.54%, down 0.06%.

Current year until 202012, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202012,  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 4139.3747 million, 3212.0904 million, 2965.1956 million, 1988.2538 million, 1866.4864 million, which were up 17.81%, down 0.24%, up 1.66%, up 0.45%, down 19.21% comparing with the same period of last year and account for 12.01%, 9.32%, 8.60%, 5.77%, 5.41% of LATVIA's total imports and exports.

During the current year until 202012, 44, 85, 84, 22, 10 were LATVIA's top five traded commodities, with total import and export values of 2509.9999 million, 1920.3748 million, 1120.3334 million, 981.3674 million, 745.1793 million. These values correspond to 15.52%, 11.87%, 6.93%, 6.07%, 4.61% of LATVIA's total exports and, respectively, were down 1.18%, up 21.06%, up 6.32%, down 5.29%, up 23.19% comparing to the same period of last year.

During the current year until 202012, 85, 84, 87, 27, 22 were LATVIA's top five traded commodities, with total import values of 2219.0000 million, 1844.8622 million, 1197.9251 million, 1118.1925 million, 1006.8864 million. These values correspond to 12.13%, 10.09%, 6.55%, 6.11%, 5.50% of LATVIA's total exports and, respectively, were up 15.14%, down 0.97%, down 20.56%, down 31.55%, up 6.76% comparing to the same period of last year.

2. Current year until 202012, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202012, LATVIA-China binational exports and imports of goods amounted to 911.2332 million and were up 20.79% comparing with the same period of last year. Among these, exports from LATVIA to China were 182.3249 million and down 0.23%, imports from China to LATVIA were 728.9083 million and up 27.51%. The total binational trade deficit was 546.5833 million and up 40.54%.

During the urrent year until 202012, 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 315.2890 million, 88.6103 million, 72.4039 million, 40.6296 million, 39.6910 million and makes up 34.60%, 9.72%, 7.95%, 4.46%, 4.36% of the total binational imports and exports. These values were also up 28.93%, up 21.49%, down 25.11%, up 373.39%, down 2.17% comparing to the same period last year.

During the current year until 202012, 44, 27, 85, 08, 87 were the top five traded commodities exported to China from LATVIA, with export values of 69.9097 million, 23.8677 million, 16.7250 million, 12.3435 million, 8.6909 million. These values account for 38.34%, 13.09%, 9.17%, 6.77%, 4.77% of LATVIA's total exports and were down 26.16%, down 0.55%, up 17.39%, down 2.67%, up 234.46% comparing to the same period of last year.

During the current year until 202012, 85, 84, 63, 94, 90 were LATVIA's top five traded commodities importing from China , with import values of 298.5640 million, 84.3482 million, 40.5580 million, 37.3569 million, 32.3271 million. These values account for 40.96%, 11.57%, 5.56%, 5.13%, 4.44% of LATVIA's total imports and were up 29.64%, up 23.23%, up 379.96%, down 0.90%, up 34.54% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat