1.  Overview the trade of LATVIA in goods current year until 202204

According to Dalian Infobank, in 202204, LATVIA's exports and imports of goods amounted to 4287.8823 million, and were up 22.55% comparing with the same period of last year. Among these, exports were up 16.52% at 1851.5842 million, and imports were up 27.57% at 2436.2981 million. And the corresponding trade deficit was 584.7139 million and up 82.32%.

During the current year until 202204, LATVIA's total exports and imports of goods were 16243.4838 million and were up 25.03% comparing to the same period of last year. Among these, exports were 7334.2251 million and up 20.06%; imports were 8909.2587 million and up 29.45%. The total trade deficit was 1575.0336 million and up 103.72%.

If considering by country (region), LITHUANIA, ESTONIA, RUSSIA, GERMANY, POLAND were LATVIA's top five trading partners. During the current year until 202204, LATVIA's imports and exports to five countries/territories were 3208.1246 million, 1648.2296 million, 1434.1851 million, 1408.6335 million, 1139.4800 million. These values correspond to 19.75%, 10.15%, 8.83%, 8.67%, 7.01% of LATVIA's imports and exports, and, respectively, were up 45.99%, up 36.55%, up 21.31%, up 17.24%, up 26.55% comparing to the same period of last year.

Current year until 202204, LATVIA and the top five trade partners LITHUANIA, ESTONIA, RUSSIA, GERMANY, UNITED KINGDOM are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202204, LATVIA's exports to these five countries/territories were 1337.3218 million, 891.9516 million, 643.2993 million, 542.2010 million, 427.1785 million. These values correspond to 18.23%, 12.16%, 8.77%, 7.39%, 5.82% of LATVIA's exports and, respectively, were up 32.37%, up 43.45%, down 9.65%, up 31.69%, up 6.46% comparing with the same period of last year.

Current year until 202204, LATVIA's exports to top five countries/territories LITHUANIA, GERMANY, POLAND, RUSSIA, ESTONIA are the top five countries/territories that LATVIA imports from in terms of the total export amount. During the current year until 202204, LATVIA's imports from these five countries/territories were 1870.8028 million, 866.4324 million, 834.7280 million, 790.8858 million, 756.2780 million. These values correspond to 21.00%, 9.73%, 9.37%, 8.88%, 8.49% of LATVIA's total imports and, respectively, were up 57.59%, up 9.71%, up 25.23%, up 68.18%, up 29.22% comparing with the same period of last year.

During the current year until 202204, the trade surplus of LATVIA was mainly from UNITED KINGDOM, SWEDEN, ESTONIA, DENMARK, UNITED STATES at 362.4156 million, 150.2470 million, 135.6735 million, 129.4914 million, 115.9352 million, and up 3.50%, up 23.73%, up 271.42%, up 12.47%, up 63.31%. And the trade deficits were mainly from LITHUANIA, POLAND, GERMANY, CHINA, ITALY at 533.4810 million, 529.9760 million, 324.2314 million, 302.8240 million, 191.3607 million, and up 201.75%, up 22.49%, down 14.23%, up 13.66%, up 3.33%.

Current year until 202204, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202204,  commodities with hs2 codes, 27, 44, 85, 84, 87, were LATVIA's top five traded commodities. They correspond to the import and export values of 1891.2180 million, 1804.4629 million, 1497.3427 million, 1196.7237 million, 839.9104 million, which were up 178.02%, up 28.32%, up 0.60%, up 7.50%, up 2.29% comparing with the same period of last year and account for 11.64%, 11.11%, 9.22%, 7.37%, 5.17% of LATVIA's total imports and exports.

During the current year until 202204, 44, 85, 27, 84, 87 were LATVIA's top five traded commodities, with total import and export values of 1420.4828 million, 627.9641 million, 622.1750 million, 438.7222 million, 279.2710 million. These values correspond to 19.37%, 8.56%, 8.48%, 5.98%, 3.81% of LATVIA's total exports and, respectively, were up 31.72%, down 7.48%, up 113.88%, up 11.62%, up 0.33% comparing to the same period of last year.

During the current year until 202204, 27, 85, 84, 87, 39 were LATVIA's top five traded commodities, with total import values of 1269.0430 million, 869.3786 million, 758.0015 million, 560.6394 million, 411.0432 million. These values correspond to 14.24%, 9.76%, 8.51%, 6.29%, 4.61% of LATVIA's total exports and, respectively, were up 225.94%, up 7.37%, up 5.25%, up 3.30%, up 26.98% comparing to the same period of last year.

2. Current year until 202204, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202204, LATVIA-China binational exports and imports of goods amounted to 454.0392 million and were up 16.75% comparing with the same period of last year. Among these, exports from LATVIA to China were 75.6076 million and up 23.47%, imports from China to LATVIA were 378.4316 million and up 15.49%. The total binational trade deficit was 302.8240 million and up 13.66%.

During the urrent year until 202204, 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 118.6704 million, 61.6102 million, 45.3105 million, 31.6026 million, 22.5850 million and makes up 26.14%, 13.57%, 9.98%, 6.96%, 4.97% of the total binational imports and exports. These values were also down 19.36%, up 13.55%, up 403.54%, up 22.91%, down 21.35% comparing to the same period last year.

During the current year until 202204, 44, 27, 90, 85, 74 were the top five traded commodities exported to China from LATVIA, with export values of 30.6795 million, 13.3216 million, 10.6511 million, 5.6982 million, 5.3871 million. These values account for 40.58%, 17.62%, 14.09%, 7.54%, 7.13% of LATVIA's total exports and were up 21.49%, up 64.75%, up 228.07%, up 5.57%, up 84.91% comparing to the same period of last year.

During the current year until 202204, 85, 84, 38, 39, 40 were LATVIA's top five traded commodities importing from China , with import values of 112.9721 million, 60.1377 million, 45.2212 million, 21.6027 million, 20.0098 million. These values account for 29.85%, 15.89%, 11.95%, 5.71%, 5.29% of LATVIA's total imports and were down 20.30%, up 12.73%, up 419.93%, up 185.46%, up 81.49% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat