1.  Overview the trade of LATVIA in goods current year until 202112

According to Dalian Infobank, in 202112, LATVIA's exports and imports of goods amounted to 3902.7013 million, and were up 14.59% comparing with the same period of last year. Among these, exports were up 22.49% at 1900.9439 million, and imports were up 7.97% at 2001.7573 million. And the corresponding trade deficit was 100.8134 million and down 66.63%.

During the current year until 202112, LATVIA's total exports and imports of goods were 45175.3638 million and were up 29.90% comparing to the same period of last year. Among these, exports were 20898.4859 million and up 27.92%; imports were 24276.8779 million and up 31.64%. The total trade deficit was 3378.3920 million and up 60.50%.

If considering by country (region), LITHUANIA, RUSSIA, ESTONIA, GERMANY, POLAND were LATVIA's top five trading partners. During the current year until 202112, LATVIA's imports and exports to five countries/territories were 7546.7351 million, 4619.3539 million, 4470.2513 million, 3969.6499 million, 3044.9550 million. These values correspond to 16.71%, 10.23%, 9.90%, 8.79%, 6.74% of LATVIA's imports and exports, and, respectively, were up 33.87%, up 41.84%, up 32.60%, up 30.93%, up 29.52% comparing to the same period of last year.

Current year until 202112, LATVIA and the top five trade partners LITHUANIA, ESTONIA, RUSSIA, UNITED KINGDOM, GERMANY are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202112, LATVIA's exports to these five countries/territories were 3503.8011 million, 2359.6178 million, 2278.8137 million, 1516.9993 million, 1442.6633 million. These values correspond to 16.77%, 11.29%, 10.90%, 7.26%, 6.90% of LATVIA's exports and, respectively, were up 40.79%, up 28.92%, up 7.47%, up 72.10%, up 30.00% comparing with the same period of last year.

Current year until 202112, LATVIA's exports to top five countries/territories LITHUANIA, GERMANY, RUSSIA, POLAND, ESTONIA are the top five countries/territories that LATVIA imports from in terms of the total export amount. During the current year until 202112, LATVIA's imports from these five countries/territories were 4042.9340 million, 2526.9867 million, 2340.5402 million, 2212.4434 million, 2110.6336 million. These values correspond to 16.65%, 10.41%, 9.64%, 9.11%, 8.69% of LATVIA's total imports and, respectively, were up 28.41%, up 31.46%, up 105.94%, up 24.24%, up 36.97% comparing with the same period of last year.

During the current year until 202112, the trade surplus of LATVIA was mainly from UNITED KINGDOM, SWEDEN, DENMARK, NIGERIA, NORWAY at 1310.7565 million, 380.0133 million, 375.0988 million, 319.3155 million, 295.2532 million, and up 306.81%, up 47.46%, up 25.29%, up 59.95%, up 18.71%. And the trade deficits were mainly from POLAND, GERMANY, CHINA, CANADA, ITALY at 1379.9318 million, 1084.3234 million, 826.1667 million, 668.7657 million, 604.1037 million, and up 13.98%, up 33.45%, up 53.64%, up 133.81%, up 10.99%.

Current year until 202112, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202112,  commodities with hs2 codes, 44, 85, 27, 84, 87, were LATVIA's top five traded commodities. They correspond to the import and export values of 5010.1166 million, 4538.8509 million, 3670.3002 million, 3636.2122 million, 2444.7359 million, which were up 54.52%, up 8.97%, up 115.80%, up 20.99%, up 28.32% comparing with the same period of last year and account for 11.09%, 10.05%, 8.12%, 8.05%, 5.41% of LATVIA's total imports and exports.

During the current year until 202112, 44, 85, 84, 27, 22 were LATVIA's top five traded commodities, with total import and export values of 3840.2944 million, 2055.9393 million, 1329.3378 million, 1326.0690 million, 937.4531 million. These values correspond to 18.38%, 9.84%, 6.36%, 6.35%, 4.49% of LATVIA's total exports and, respectively, were up 51.40%, up 5.74%, up 17.72%, up 127.81%, down 5.37% comparing to the same period of last year.

During the current year until 202112, 85, 27, 84, 87, 44 were LATVIA's top five traded commodities, with total import values of 2482.9115 million, 2344.2313 million, 2306.8744 million, 1605.5683 million, 1169.8222 million. These values correspond to 10.23%, 9.66%, 9.50%, 6.61%, 4.82% of LATVIA's total exports and, respectively, were up 11.80%, up 109.56%, up 22.96%, up 31.53%, up 65.73% comparing to the same period of last year.

2. Current year until 202112, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202112, LATVIA-China binational exports and imports of goods amounted to 1207.1550 million and were up 31.59% comparing with the same period of last year. Among these, exports from LATVIA to China were 190.4942 million and up 0.36%, imports from China to LATVIA were 1016.6608 million and up 39.74%. The total binational trade deficit was 826.1667 million and up 53.64%.

During the urrent year until 202112, 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 431.1112 million, 160.9786 million, 77.7627 million, 67.5181 million, 64.0548 million and makes up 35.71%, 13.34%, 6.44%, 5.59%, 5.31% of the total binational imports and exports. These values were also up 36.53%, up 80.65%, up 3.02%, up 74.64%, up 428.50% comparing to the same period last year.

During the current year until 202112, 44, 27, 85, 74, 90 were the top five traded commodities exported to China from LATVIA, with export values of 76.3549 million, 24.9373 million, 18.6736 million, 16.3011 million, 13.0631 million. These values account for 40.08%, 13.09%, 9.80%, 8.56%, 6.86% of LATVIA's total exports and were up 4.61%, up 1.63%, up 8.27%, up 157.66%, up 103.56% comparing to the same period of last year.

During the current year until 202112, 85, 84, 38, 90, 94 were LATVIA's top five traded commodities importing from China , with import values of 412.4376 million, 158.3888 million, 62.6007 million, 54.4550 million, 42.8151 million. These values account for 40.57%, 15.58%, 6.16%, 5.36%, 4.21% of LATVIA's total imports and were up 38.17%, up 87.61%, up 450.94%, up 68.89%, up 14.65% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat