1.  Overview the trade of LATVIA in goods current year until 202110

According to Dalian Infobank, in 202110, LATVIA's exports and imports of goods amounted to 4026.5536 million, and were up 15.93% comparing with the same period of last year. Among these, exports were up 1.21% at 1699.3258 million, and imports were up 29.72% at 2327.2279 million. And the corresponding trade deficit was 627.9021 million and up 445.75%.

During the current year until 202110, LATVIA's total exports and imports of goods were 37048.0227 million and were up 31.92% comparing to the same period of last year. Among these, exports were 16768.3513 million and up 27.19%; imports were 20279.6714 million and up 36.11%. The total trade deficit was 3511.3201 million and up 104.63%.

If considering by country (region), LITHUANIA, RUSSIA, ESTONIA, GERMANY, INTRA-EU were LATVIA's top five trading partners. During the current year until 202110, LATVIA's imports and exports to five countries/territories were 5454.2847 million, 3843.3322 million, 3275.6927 million, 2901.7614 million, 2784.2400 million. These values correspond to 14.72%, 10.37%, 8.84%, 7.83%, 7.52% of LATVIA's imports and exports, and, respectively, were up 18.08%, up 47.73%, up 19.60%, up 16.54%, 0 comparing to the same period of last year.

Current year until 202110, LATVIA and the top five trade partners LITHUANIA, RUSSIA, ESTONIA, INTRA-EU, UNITED KINGDOM are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202110, LATVIA's exports to these five countries/territories were 2491.0365 million, 1844.8478 million, 1706.8476 million, 1160.1000 million, 1141.7445 million. These values correspond to 14.86%, 11.00%, 10.18%, 6.92%, 6.81% of LATVIA's exports and, respectively, were up 22.90%, up 11.44%, up 15.22%, 0, up 64.69% comparing with the same period of last year.

Current year until 202110, LATVIA's exports to top five countries/territories LITHUANIA, RUSSIA, GERMANY, INTRA-EU, POLAND are the top five countries/territories that LATVIA imports from in terms of the total export amount. During the current year until 202110, LATVIA's imports from these five countries/territories were 2963.2482 million, 1998.4844 million, 1863.0071 million, 1624.1400 million, 1619.5479 million. These values correspond to 14.61%, 9.85%, 9.19%, 8.01%, 7.99% of LATVIA's total imports and, respectively, were up 14.31%, up 111.22%, up 18.98%, 0, up 10.87% comparing with the same period of last year.

During the current year until 202110, the trade surplus of LATVIA was mainly from UNITED KINGDOM, SWEDEN, NIGERIA, DENMARK, NORWAY at 995.9454 million, 276.7909 million, 261.3421 million, 261.3251 million, 244.7291 million, and up 272.31%, up 21.76%, up 87.35%, up 17.55%, up 16.22%. And the trade deficits were mainly from POLAND, GERMANY, CHINA, CANADA, LITHUANIA at 1019.7836 million, 824.2527 million, 679.0135 million, 666.9408 million, 472.2117 million, and up 3.34%, up 28.43%, up 54.56%, up 698.75%, down 16.48%.

Current year until 202110, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202110,  commodities with hs2 codes, 44, 85, 99, 84, 27, were LATVIA's top five traded commodities. They correspond to the import and export values of 3898.3700 million, 3455.3968 million, 2791.0101 million, 2712.6266 million, 2662.1249 million, which were up 48.27%, up 4.21%, up 44478.89%, up 12.09%, up 88.99% comparing with the same period of last year and account for 10.52%, 9.33%, 7.53%, 7.32%, 7.19% of LATVIA's total imports and exports.

During the current year until 202110, 44, 85, 99, 84, 27 were LATVIA's top five traded commodities, with total import and export values of 2938.9264 million, 1569.2742 million, 1166.8701 million, 995.6174 million, 869.3054 million. These values correspond to 17.53%, 9.36%, 6.96%, 5.94%, 5.18% of LATVIA's total exports and, respectively, were up 42.50%, up 1.45%, up 18537.62%, up 10.27%, up 84.04% comparing to the same period of last year.

During the current year until 202110, 85, 27, 84, 99, 87 were LATVIA's top five traded commodities, with total import values of 1886.1226 million, 1792.8195 million, 1717.0092 million, 1624.1400 million, 1237.1673 million. These values correspond to 9.30%, 8.84%, 8.47%, 8.01%, 6.10% of LATVIA's total exports and, respectively, were up 6.63%, up 91.49%, up 13.17%, 0, up 25.64% comparing to the same period of last year.

2. Current year until 202110, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202110, LATVIA-China binational exports and imports of goods amounted to 985.6201 million and were up 30.21% comparing with the same period of last year. Among these, exports from LATVIA to China were 153.3033 million and down 3.48%, imports from China to LATVIA were 832.3168 million and up 39.15%. The total binational trade deficit was 679.0135 million and up 54.56%.

During the urrent year until 202110, commodities with hs2 code, 85, 84, 44, 90, 38, were binational trade's top five traded commodities. They correspond to import and export values of 365.0190 million, 125.5721 million, 63.9037 million, 59.0674 million, 44.4064 million and makes up 37.03%, 12.74%, 6.48%, 5.99%, 4.51% of the total binational imports and exports. These values were also up 43.97%, up 76.88%, up 0.13%, up 101.84%, up 499.43% comparing to the same period last year.

During the current year until 202110, 44, 27, 85, 90, 74 were the top five traded commodities exported to China from LATVIA, with export values of 62.7421 million, 19.7817 million, 14.5544 million, 11.3747 million, 11.0145 million. These values account for 40.93%, 12.90%, 9.49%, 7.42%, 7.18% of LATVIA's total exports and were up 1.65%, down 9.67%, up 8.31%, up 143.26%, up 143.17% comparing to the same period of last year.

During the current year until 202110, 85, 84, 90, 38, 40 were LATVIA's top five traded commodities importing from China , with import values of 350.4646 million, 123.5274 million, 47.6928 million, 43.6215 million, 35.3879 million. These values account for 42.11%, 14.84%, 5.73%, 5.24%, 4.25% of LATVIA's total imports and were up 45.96%, up 83.82%, up 93.96%, up 544.64%, up 27.90% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat