1.  Overview the trade of LATVIA in goods current year until 202203

According to Dalian Infobank, in 202203, LATVIA's exports and imports of goods amounted to 4443.2139 million, and were up 22.71% comparing with the same period of last year. Among these, exports were up 16.07% at 1960.7678 million, and imports were up 28.52% at 2482.4461 million. And the corresponding trade deficit was 521.6783 million and up 115.31%.

During the current year until 202203, LATVIA's total exports and imports of goods were 11747.7180 million and were up 23.76% comparing to the same period of last year. Among these, exports were 5347.5063 million and up 18.31%; imports were 6400.2117 million and up 28.72%. The total trade deficit was 1052.7054 million and up 132.68%.

If considering by country (region), INTRA-EU, LITHUANIA, RUSSIA, ESTONIA, GERMANY were LATVIA's top five trading partners. During the current year until 202203, LATVIA's imports and exports to five countries/territories were 3415.8900 million, 1217.2441 million, 1107.8353 million, 696.7980 million, 640.6778 million. These values correspond to 29.08%, 10.36%, 9.43%, 5.93%, 5.45% of LATVIA's imports and exports, and, respectively, were 0, down 24.12%, up 37.06%, down 21.24%, down 26.72% comparing to the same period of last year.

Current year until 202203, LATVIA and the top five trade partners INTRA-EU, LITHUANIA, RUSSIA, ESTONIA, GERMANY are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202203, LATVIA's exports to these five countries/territories were 1432.4700 million, 559.6297 million, 515.0209 million, 398.1211 million, 247.2969 million. These values correspond to 26.79%, 10.47%, 9.63%, 7.44%, 4.62% of LATVIA's exports and, respectively, were 0, down 23.00%, down 0.25%, down 14.07%, down 19.82% comparing with the same period of last year.

Current year until 202203, LATVIA's exports to top five countries/territories INTRA-EU, LITHUANIA, RUSSIA, GERMANY, POLAND are the top five countries/territories that LATVIA imports from in terms of the total export amount. During the current year until 202203, LATVIA's imports from these five countries/territories were 1983.4200 million, 657.6145 million, 592.8144 million, 393.3809 million, 345.0131 million. These values correspond to 30.99%, 10.27%, 9.26%, 6.15%, 5.39% of LATVIA's total imports and, respectively, were 0, down 25.05%, up 103.04%, down 30.48%, down 27.62% comparing with the same period of last year.

During the current year until 202203, the trade surplus of LATVIA was mainly from UNITED KINGDOM, ESTONIA, NORWAY, SWEDEN, DENMARK at 148.9558 million, 99.4443 million, 82.0138 million, 72.5729 million, 71.2368 million, and down 42.43%, up 137.01%, up 16.47%, down 22.46%, down 27.29%. And the trade deficits were mainly from INTRA-EU, CHINA, POLAND, GERMANY, LITHUANIA at 550.9500 million, 237.3490 million, 178.4297 million, 146.0839 million, 97.9848 million, and 0, up 21.71%, down 41.91%, down 43.26%, down 34.95%.

Current year until 202203, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202203,  commodities with hs2 codes, 99, 44, 85, 27, 84, were LATVIA's top five traded commodities. They correspond to the import and export values of 3417.5314 million, 930.7341 million, 860.9017 million, 691.8523 million, 652.8765 million, which were up 186621.47%, down 9.59%, down 23.96%, up 49.29%, down 19.64% comparing with the same period of last year and account for 29.09%, 7.92%, 7.33%, 5.89%, 5.56% of LATVIA's total imports and exports.

During the current year until 202203, 99, 44, 85, 27, 84 were LATVIA's top five traded commodities, with total import and export values of 1434.1114 million, 719.2558 million, 352.4414 million, 260.4153 million, 254.9140 million. These values correspond to 26.82%, 13.45%, 6.59%, 4.87%, 4.77% of LATVIA's total exports and, respectively, were up 78254.63%, down 9.35%, down 31.50%, up 21.45%, down 10.73% comparing to the same period of last year.

During the current year until 202203, 99, 85, 27, 84, 87 were LATVIA's top five traded commodities, with total import values of 1983.4200 million, 508.4603 million, 431.4370 million, 397.9625 million, 246.8043 million. These values correspond to 30.99%, 7.94%, 6.74%, 6.22%, 3.86% of LATVIA's total exports and, respectively, were 0, down 17.67%, up 73.28%, down 24.47%, down 34.86% comparing to the same period of last year.

2. Current year until 202203, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202203, LATVIA-China binational exports and imports of goods amounted to 352.7570 million and were up 21.77% comparing with the same period of last year. Among these, exports from LATVIA to China were 57.7040 million and up 21.89%, imports from China to LATVIA were 295.0530 million and up 21.74%. The total binational trade deficit was 237.3490 million and up 21.71%.

During the urrent year until 202203, commodities with hs2 code, 85, 84, 38, 44, 90, were binational trade's top five traded commodities. They correspond to import and export values of 90.5565 million, 46.6044 million, 41.2007 million, 23.1428 million, 19.3289 million and makes up 25.67%, 13.21%, 11.68%, 6.56%, 5.48% of the total binational imports and exports. These values were also down 12.52%, up 11.74%, up 466.84%, up 15.01%, down 8.19% comparing to the same period last year.

During the current year until 202203, 44, 90, 27, 85, 74 were the top five traded commodities exported to China from LATVIA, with export values of 22.3964 million, 9.8595 million, 9.8541 million, 5.0103 million, 3.7238 million. These values account for 38.81%, 17.09%, 17.08%, 8.68%, 6.45% of LATVIA's total exports and were up 13.34%, up 327.08%, up 59.42%, up 22.38%, up 88.94% comparing to the same period of last year.

During the current year until 202203, 85, 84, 38, 40, 39 were LATVIA's top five traded commodities importing from China , with import values of 85.5462 million, 45.3885 million, 41.1153 million, 16.3347 million, 15.7064 million. These values account for 28.99%, 15.38%, 13.93%, 5.54%, 5.32% of LATVIA's total imports and were down 13.96%, up 11.22%, up 487.60%, up 72.23%, up 164.82% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat