1.  Overview the trade of LATVIA in goods current year until 202103

According to Dalian Infobank, in 202103, LATVIA's exports and imports of goods amounted to 3579.6441 million, and were up 23.66% comparing with the same period of last year. Among these, exports were up 28.38% at 1694.5391 million, and imports were up 19.71% at 1885.1049 million. And the corresponding trade deficit was 190.5658 million and down 25.18%.

During the current year until 202103, LATVIA's total exports and imports of goods were 9414.4663 million and were up 15.25% comparing to the same period of last year. Among these, exports were 4544.0290 million and up 18.48%; imports were 4870.4373 million and up 12.40%. The total trade deficit was 326.4083 million and down 34.45%.

If considering by country (region), LITHUANIA, ESTONIA, GERMANY, RUSSIA, POLAND were LATVIA's top five trading partners. During the current year until 202103, LATVIA's imports and exports to five countries/territories were 1598.3341 million, 903.2003 million, 847.0396 million, 805.9124 million, 641.1578 million. These values correspond to 16.98%, 9.59%, 9.00%, 8.56%, 6.81% of LATVIA's imports and exports, and, respectively, were up 21.76%, up 13.94%, up 9.21%, up 9.39%, up 12.20% comparing to the same period of last year.

Current year until 202103, 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 202103, LATVIA's exports to these five countries/territories were 741.4240 million, 513.9592 million, 488.0229 million, 309.5539 million, 281.7396 million. These values correspond to 16.32%, 11.31%, 10.74%, 6.81%, 6.20% of LATVIA's exports and, respectively, were up 28.35%, up 9.65%, up 13.70%, up 10.20%, up 56.20% comparing with the same period of last year.

Current year until 202103, 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 202103, LATVIA's imports from these five countries/territories were 856.9101 million, 537.4856 million, 469.9719 million, 415.1774 million, 291.9532 million. These values correspond to 17.59%, 11.04%, 9.65%, 8.52%, 5.99% of LATVIA's total imports and, respectively, were up 16.59%, up 8.64%, up 10.27%, up 14.22%, up 8.92% comparing with the same period of last year.

During the current year until 202103, the trade surplus of LATVIA was mainly from UNITED KINGDOM, RUSSIA, NIGERIA, DENMARK, SWEDEN at 245.9652 million, 222.0060 million, 128.3374 million, 109.3847 million, 98.0000 million, and up 300.41%, up 10.62%, up 92.86%, up 40.33%, up 6.14%. And the trade deficits were mainly from POLAND, GERMANY, CHINA, ITALY, LITHUANIA at 298.7860 million, 227.9317 million, 197.4494 million, 117.9136 million, 115.4861 million, and up 6.35%, up 6.59%, up 79.76%, down 2.71%, down 26.61%.

Current year until 202103, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202103,  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 1120.9387 million, 1046.6719 million, 803.9325 million, 555.0530 million, 463.2178 million, which were up 22.38%, up 35.54%, up 16.67%, up 7.77%, up 23.30% comparing with the same period of last year and account for 11.91%, 11.12%, 8.54%, 5.90%, 4.92% of LATVIA's total imports and exports.

During the current year until 202103, 44, 85, 84, 22, 27 were LATVIA's top five traded commodities, with total import and export values of 810.9015 million, 508.9525 million, 284.9284 million, 225.3614 million, 215.6952 million. These values correspond to 17.85%, 11.20%, 6.27%, 4.96%, 4.75% of LATVIA's total exports and, respectively, were up 31.35%, up 20.20%, up 15.19%, up 6.01%, up 45.44% comparing to the same period of last year.

During the current year until 202103, 85, 84, 87, 27, 44 were LATVIA's top five traded commodities, with total import values of 611.9862 million, 519.0041 million, 363.3245 million, 247.5226 million, 235.7704 million. These values correspond to 12.57%, 10.66%, 7.46%, 5.08%, 4.84% of LATVIA's total exports and, respectively, were up 24.26%, up 17.49%, up 11.60%, up 8.86%, up 52.25% comparing to the same period of last year.

2. Current year until 202103, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202103, LATVIA-China binational exports and imports of goods amounted to 287.1497 million and were up 52.21% comparing with the same period of last year. Among these, exports from LATVIA to China were 44.8501 million and up 13.82%, imports from China to LATVIA were 242.2996 million and up 62.35%. The total binational trade deficit was 197.4494 million and up 79.76%.

During the urrent year until 202103, commodities with hs2 code, 85, 84, 90, 44, 94, were binational trade's top five traded commodities. They correspond to import and export values of 103.4380 million, 41.7092 million, 21.0419 million, 18.8783 million, 12.4894 million and makes up 36.02%, 14.53%, 7.33%, 6.57%, 4.35% of the total binational imports and exports. These values were also up 68.44%, up 110.48%, up 191.74%, up 19.72%, up 12.44% comparing to the same period last year.

During the current year until 202103, 44, 27, 85, 08, 90 were the top five traded commodities exported to China from LATVIA, with export values of 18.5160 million, 5.8038 million, 4.0051 million, 3.6569 million, 2.2996 million. These values account for 41.28%, 12.94%, 8.93%, 8.15%, 5.13% of LATVIA's total exports and were up 21.54%, down 11.72%, up 12.12%, up 9.71%, up 128.96% comparing to the same period of last year.

During the current year until 202103, 85, 84, 90, 94, 40 were LATVIA's top five traded commodities importing from China , with import values of 99.4329 million, 40.8361 million, 18.7423 million, 12.0461 million, 9.4337 million. These values account for 41.04%, 16.85%, 7.74%, 4.97%, 3.89% of LATVIA's total imports and were up 71.91%, up 112.87%, up 201.90%, up 13.66%, down 8.97% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat