1.  Overview the trade of LATVIA in goods current year until 202201

According to Dalian Infobank, in 202201, LATVIA's exports and imports of goods amounted to 3506.9625 million, and were up 23.54% comparing with the same period of last year. Among these, exports were up 20.09% at 1634.3562 million, and imports were up 26.72% at 1872.6064 million. And the corresponding trade deficit was 238.2502 million and up 104.02%.

During the current year until 202201, LATVIA's total exports and imports of goods were 3506.9625 million and were up 23.54% comparing to the same period of last year. Among these, exports were 1634.3562 million and up 20.09%; imports were 1872.6064 million and up 26.72%. The total trade deficit was 238.2502 million and up 104.02%.

If considering by country (region), LITHUANIA, RUSSIA, ESTONIA, GERMANY, POLAND were LATVIA's top five trading partners. During the current year until 202201, LATVIA's imports and exports to five countries/territories were 572.2999 million, 390.7725 million, 348.8447 million, 309.9495 million, 238.7461 million. These values correspond to 16.32%, 11.14%, 9.95%, 8.84%, 6.81% of LATVIA's imports and exports, and, respectively, were up 24.28%, up 49.20%, up 20.04%, up 28.93%, up 25.69% comparing to the same period of last year.

Current year until 202201, LATVIA and the top five trade partners LITHUANIA, ESTONIA, RUSSIA, GERMANY, SWEDEN are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202201, LATVIA's exports to these five countries/territories were 255.1857 million, 201.6330 million, 165.8611 million, 119.8212 million, 91.8682 million. These values correspond to 15.61%, 12.34%, 10.15%, 7.33%, 5.62% of LATVIA's exports and, respectively, were up 18.51%, up 27.85%, up 7.12%, up 29.07%, up 30.35% comparing with the same period of last year.

Current year until 202201, LATVIA's exports to top five countries/territories LITHUANIA, RUSSIA, GERMANY, POLAND, ESTONIA are the top five countries/territories that LATVIA imports from in terms of the total export amount. During the current year until 202201, LATVIA's imports from these five countries/territories were 317.1142 million, 224.9114 million, 190.1282 million, 165.1378 million, 147.2117 million. These values correspond to 16.93%, 12.01%, 10.15%, 8.82%, 7.86% of LATVIA's total imports and, respectively, were up 29.35%, up 110.06%, up 28.85%, up 21.15%, up 10.78% comparing with the same period of last year.

During the current year until 202201, the trade surplus of LATVIA was mainly from UNITED KINGDOM, ESTONIA, DENMARK, SWEDEN, NORWAY at 78.3825 million, 54.4213 million, 49.4023 million, 39.8678 million, 26.6204 million, and up 8.96%, up 119.17%, up 22.24%, up 33.73%, up 14.03%. And the trade deficits were mainly from POLAND, CHINA, GERMANY, LITHUANIA, RUSSIA at 91.5295 million, 80.9272 million, 70.3070 million, 61.9286 million, 59.0503 million, and up 10.73%, up 7.83%, up 28.46%, up 107.63%, down 223.63%.

Current year until 202201, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202201,  commodities with hs2 codes, 44, 85, 27, 84, 72, were LATVIA's top five traded commodities. They correspond to the import and export values of 386.8899 million, 384.0217 million, 291.8022 million, 258.0411 million, 212.2374 million, which were up 23.59%, down 0.87%, up 130.59%, up 6.77%, up 101.19% comparing with the same period of last year and account for 11.03%, 10.95%, 8.32%, 7.36%, 6.05% of LATVIA's total imports and exports.

During the current year until 202201, 44, 85, 27, 84, 72 were LATVIA's top five traded commodities, with total import and export values of 309.7473 million, 155.9423 million, 121.8876 million, 93.9125 million, 67.1000 million. These values correspond to 18.95%, 9.54%, 7.46%, 5.75%, 4.11% of LATVIA's total exports and, respectively, were up 27.74%, down 10.15%, up 93.69%, up 10.39%, up 100.97% comparing to the same period of last year.

During the current year until 202201, 85, 27, 84, 72, 87 were LATVIA's top five traded commodities, with total import values of 228.0793 million, 169.9146 million, 164.1286 million, 145.1374 million, 107.4594 million. These values correspond to 12.18%, 9.07%, 8.76%, 7.75%, 5.74% of LATVIA's total exports and, respectively, were up 6.66%, up 167.09%, up 4.81%, up 101.29%, up 9.07% comparing to the same period of last year.

2. Current year until 202201, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202201, LATVIA-China binational exports and imports of goods amounted to 110.7710 million and were up 3.77% comparing with the same period of last year. Among these, exports from LATVIA to China were 14.9219 million and down 5.84%, imports from China to LATVIA were 95.8491 million and up 5.44%. The total binational trade deficit was 80.9272 million and up 7.83%.

During the urrent year until 202201, commodities with hs2 code, 85, 84, 38, 44, 40, were binational trade's top five traded commodities. They correspond to import and export values of 34.9631 million, 13.6215 million, 12.5873 million, 6.6797 million, 4.7564 million and makes up 31.56%, 12.30%, 11.36%, 6.03%, 4.29% of the total binational imports and exports. These values were also down 13.93%, down 0.62%, up 158.64%, down 6.29%, up 62.36% comparing to the same period last year.

During the current year until 202201, 44, 27, 74, 85, 90 were the top five traded commodities exported to China from LATVIA, with export values of 6.3658 million, 3.3377 million, 1.7127 million, 1.3500 million, 0.4539 million. These values account for 42.66%, 22.37%, 11.48%, 9.05%, 3.04% of LATVIA's total exports and were down 9.08%, up 99.31%, up 209.03%, up 3.21%, down 18.95% comparing to the same period of last year.

During the current year until 202201, 85, 84, 38, 40, 94 were LATVIA's top five traded commodities importing from China , with import values of 33.6130 million, 13.5131 million, 12.5487 million, 4.7564 million, 4.2669 million. These values account for 35.07%, 14.10%, 13.09%, 4.96%, 4.45% of LATVIA's total imports and were down 14.50%, up 1.21%, up 167.88%, up 62.36%, up 23.47% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat