1.  Overview the trade of LATVIA in goods current year until 202107

According to Dalian Infobank, in 202107, LATVIA's exports and imports of goods amounted to 3674.8570 million, and were up 25.07% comparing with the same period of last year. Among these, exports were up 17.39% at 1529.0993 million, and imports were up 31.19% at 2145.7577 million. And the corresponding trade deficit was 616.6584 million and up 85.15%.

During the current year until 202107, LATVIA's total exports and imports of goods were 24112.6175 million and were up 32.48% comparing to the same period of last year. Among these, exports were 10973.4094 million and up 29.51%; imports were 13139.2080 million and up 35.06%. The total trade deficit was 2165.7986 million and up 72.52%.

If considering by country (region), LITHUANIA, INTRA-EU, RUSSIA, ESTONIA, GERMANY were LATVIA's top five trading partners. During the current year until 202107, LATVIA's imports and exports to five countries/territories were 3370.0251 million, 2600.8400 million, 2436.7014 million, 1976.5524 million, 1858.3402 million. These values correspond to 13.98%, 10.79%, 10.11%, 8.20%, 7.71% of LATVIA's imports and exports, and, respectively, were up 12.67%, 0, up 45.98%, up 9.55%, up 13.72% comparing to the same period of last year.

Current year until 202107, LATVIA and the top five trade partners LITHUANIA, RUSSIA, INTRA-EU, ESTONIA, UNITED KINGDOM are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202107, LATVIA's exports to these five countries/territories were 1570.5762 million, 1234.7085 million, 1063.9800 million, 1056.7459 million, 639.7796 million. These values correspond to 14.31%, 11.25%, 9.70%, 9.63%, 5.83% of LATVIA's exports and, respectively, were up 18.70%, up 20.51%, 0, up 7.24%, up 49.17% comparing with the same period of last year.

Current year until 202107, LATVIA's exports to top five countries/territories LITHUANIA, INTRA-EU, GERMANY, RUSSIA, POLAND are the top five countries/territories that LATVIA imports from in terms of the total export amount. During the current year until 202107, LATVIA's imports from these five countries/territories were 1799.4490 million, 1536.8600 million, 1220.2991 million, 1201.9929 million, 1036.8671 million. These values correspond to 13.70%, 11.70%, 9.29%, 9.15%, 7.89% of LATVIA's total imports and, respectively, were up 7.88%, 0, up 17.09%, up 86.48%, up 7.61% comparing with the same period of last year.

During the current year until 202107, the trade surplus of LATVIA was mainly from UNITED KINGDOM, SWEDEN, DENMARK, NORWAY, NIGERIA at 549.9101 million, 191.6908 million, 181.3759 million, 165.0217 million, 149.6886 million, and up 217.44%, up 2.26%, up 33.79%, up 12.75%, up 27.51%. And the trade deficits were mainly from POLAND, GERMANY, INTRA-EU, CHINA, ITALY at 661.8572 million, 582.2579 million, 472.8800 million, 445.7571 million, 280.6258 million, and up 2.94%, up 29.33%, 0, up 58.88%, up 3.39%.

Current year until 202107, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202107,  commodities with hs2 codes, 99, 44, 85, 84, 27, were LATVIA's top five traded commodities. They correspond to the import and export values of 2605.2063 million, 2469.5014 million, 2326.7396 million, 1783.3685 million, 1419.0901 million, which were up 59826.50%, up 39.19%, up 9.76%, up 12.77%, up 54.19% comparing with the same period of last year and account for 10.80%, 10.24%, 9.65%, 7.40%, 5.89% of LATVIA's total imports and exports.

During the current year until 202107, 44, 99, 85, 84, 27 were LATVIA's top five traded commodities, with total import and export values of 1842.9552 million, 1068.3463 million, 1056.6059 million, 659.9661 million, 486.6151 million. These values correspond to 16.79%, 9.74%, 9.63%, 6.01%, 4.43% of LATVIA's total exports and, respectively, were up 30.85%, up 24474.73%, up 6.59%, up 14.18%, up 50.33% comparing to the same period of last year.

During the current year until 202107, 99, 85, 84, 27, 87 were LATVIA's top five traded commodities, with total import values of 1536.8600 million, 1270.1337 million, 1123.4024 million, 932.4750 million, 859.0547 million. These values correspond to 11.70%, 9.67%, 8.55%, 7.10%, 6.54% of LATVIA's total exports and, respectively, were 0, up 12.53%, up 11.96%, up 56.28%, up 29.78% comparing to the same period of last year.

2. Current year until 202107, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202107, LATVIA-China binational exports and imports of goods amounted to 652.2807 million and were up 30.57% comparing with the same period of last year. Among these, exports from LATVIA to China were 103.2618 million and down 5.69%, imports from China to LATVIA were 549.0189 million and up 40.75%. The total binational trade deficit was 445.7571 million and up 58.88%.

During the urrent year until 202107, 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 250.9425 million, 87.8753 million, 47.6771 million, 40.8205 million, 25.0645 million and makes up 38.47%, 13.47%, 7.31%, 6.26%, 3.84% of the total binational imports and exports. These values were also up 57.49%, up 87.46%, up 168.64%, down 5.03%, up 18.43% comparing to the same period last year.

During the current year until 202107, 44, 27, 85, 90, 74 were the top five traded commodities exported to China from LATVIA, with export values of 40.1128 million, 12.9666 million, 9.5519 million, 7.8733 million, 6.8822 million. These values account for 38.85%, 12.56%, 9.25%, 7.62%, 6.66% of LATVIA's total exports and were down 3.58%, down 24.69%, up 1.85%, up 139.80%, up 130.15% comparing to the same period of last year.

During the current year until 202107, 85, 84, 90, 94, 40 were LATVIA's top five traded commodities importing from China , with import values of 241.3906 million, 86.0965 million, 39.8038 million, 24.2373 million, 16.4946 million. These values account for 43.97%, 15.68%, 7.25%, 4.41%, 3.00% of LATVIA's total imports and were up 60.97%, up 94.36%, up 175.19%, up 22.86%, up 5.97% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat