1.  Overview the trade of LATVIA in goods current year until 202105

According to Dalian Infobank, in 202105, LATVIA's exports and imports of goods amounted to 3673.0855 million, and were up 63.05% comparing with the same period of last year. Among these, exports were up 53.28% at 1620.2528 million, and imports were up 71.69% at 2052.8328 million. And the corresponding trade deficit was 432.5800 million and up 212.05%.

During the current year until 202105, LATVIA's total exports and imports of goods were 16577.7568 million and were up 30.96% comparing to the same period of last year. Among these, exports were 7760.3408 million and up 29.88%; imports were 8817.4160 million and up 31.93%. The total trade deficit was 1057.0752 million and up 49.21%.

If considering by country (region), LITHUANIA, ESTONIA, GERMANY, RUSSIA, POLAND were LATVIA's top five trading partners. During the current year until 202105, LATVIA's imports and exports to five countries/territories were 2774.7430 million, 1588.3931 million, 1517.4326 million, 1516.1914 million, 1157.1616 million. These values correspond to 16.74%, 9.58%, 9.15%, 9.15%, 6.98% of LATVIA's imports and exports, and, respectively, were up 34.82%, up 28.43%, up 30.75%, up 33.81%, up 28.74% comparing to the same period of last year.

Current year until 202105, 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 202105, LATVIA's exports to these five countries/territories were 1292.9591 million, 864.2283 million, 846.4510 million, 525.6971 million, 491.5108 million. These values correspond to 16.66%, 11.14%, 10.91%, 6.77%, 6.33% of LATVIA's exports and, respectively, were up 43.55%, up 22.43%, up 24.42%, up 22.12%, up 67.60% comparing with the same period of last year.

Current year until 202105, 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 202105, LATVIA's imports from these five countries/territories were 1481.7839 million, 991.7355 million, 848.3001 million, 741.9421 million, 651.9631 million. These values correspond to 16.81%, 11.25%, 9.62%, 8.41%, 7.39% of LATVIA's total imports and, respectively, were up 28.03%, up 35.85%, up 26.66%, up 33.33%, up 52.63% comparing with the same period of last year.

During the current year until 202105, the trade surplus of LATVIA was mainly from UNITED KINGDOM, RUSSIA, DENMARK, SWEDEN, NIGERIA at 420.3786 million, 212.2652 million, 157.4633 million, 156.2603 million, 148.4702 million, and up 245.03%, down 23.85%, up 40.03%, up 2.46%, up 51.85%. And the trade deficits were mainly from POLAND, GERMANY, CHINA, ITALY, LITHUANIA at 539.4386 million, 466.0384 million, 321.1029 million, 227.1583 million, 188.8248 million, and up 22.41%, up 55.58%, up 81.58%, up 26.70%, down 26.43%.

Current year until 202105, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202105,  commodities with hs2 codes, 44, 85, 84, 87, 27, were LATVIA's top five traded commodities. They correspond to the import and export values of 1846.1777 million, 1840.4322 million, 1402.3475 million, 1046.1507 million, 931.7481 million, which were up 46.91%, up 28.77%, up 28.20%, up 46.84%, up 53.89% comparing with the same period of last year and account for 11.14%, 11.10%, 8.46%, 6.31%, 5.62% of LATVIA's total imports and exports.

During the current year until 202105, 44, 85, 84, 27, 87 were LATVIA's top five traded commodities, with total import and export values of 1406.9410 million, 838.0792 million, 499.8320 million, 374.9705 million, 351.5613 million. These values correspond to 18.13%, 10.80%, 6.44%, 4.83%, 4.53% of LATVIA's total exports and, respectively, were up 39.95%, up 24.78%, up 26.80%, up 65.43%, up 36.08% comparing to the same period of last year.

During the current year until 202105, 85, 84, 87, 27, 44 were LATVIA's top five traded commodities, with total import values of 1002.3530 million, 902.5154 million, 694.5895 million, 556.7776 million, 439.2367 million. These values correspond to 11.37%, 10.24%, 7.88%, 6.31%, 4.98% of LATVIA's total exports and, respectively, were up 32.31%, up 28.99%, up 52.96%, up 46.99%, up 74.77% comparing to the same period of last year.

2. Current year until 202105, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202105, LATVIA-China binational exports and imports of goods amounted to 467.5023 million and were up 44.57% comparing with the same period of last year. Among these, exports from LATVIA to China were 73.1997 million and down 0.10%, imports from China to LATVIA were 394.3026 million and up 57.65%. The total binational trade deficit was 321.1029 million and up 81.58%.

During the urrent year until 202105, 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 177.6180 million, 64.6950 million, 34.8672 million, 28.6957 million, 17.9846 million and makes up 37.99%, 13.84%, 7.46%, 6.14%, 3.85% of the total binational imports and exports. These values were also up 71.65%, up 111.47%, up 202.73%, down 4.08%, up 18.16% comparing to the same period last year.

During the current year until 202105, 44, 27, 85, 90, 74 were the top five traded commodities exported to China from LATVIA, with export values of 28.1855 million, 9.9280 million, 6.3410 million, 4.9312 million, 4.2497 million. These values account for 38.50%, 13.56%, 8.66%, 6.74%, 5.81% of LATVIA's total exports and were down 3.16%, down 19.61%, up 8.22%, up 150.23%, up 56.16% comparing to the same period of last year.

During the current year until 202105, 85, 84, 90, 94, 40 were LATVIA's top five traded commodities importing from China , with import values of 171.2770 million, 63.3875 million, 29.9360 million, 17.3997 million, 11.8101 million. These values account for 43.44%, 16.08%, 7.59%, 4.41%, 3.00% of LATVIA's total imports and were up 75.46%, up 116.16%, up 213.57%, up 23.92%, down 5.41% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat