1.  Overview the trade of LATVIA in goods current year until 202205

According to Dalian Infobank, in 202205, LATVIA's exports and imports of goods amounted to 4496.0288 million, and were up 20.52% comparing with the same period of last year. Among these, exports were up 13.80% at 1852.8589 million, and imports were up 25.73% at 2643.1699 million. And the corresponding trade deficit was 790.3110 million and up 66.69%.

During the current year until 202205, LATVIA's total exports and imports of goods were 20739.5127 million and were up 24.03% comparing to the same period of last year. Among these, exports were 9187.0840 million and up 18.74%; imports were 11552.4287 million and up 28.58%. The total trade deficit was 2365.3446 million and up 89.65%.

If considering by country (region), INTRA-EU, LITHUANIA, RUSSIA, ESTONIA, GERMANY were LATVIA's top five trading partners. During the current year until 202205, LATVIA's imports and exports to five countries/territories were 3385.2800 million, 3208.1246 million, 1716.7872 million, 1648.2296 million, 1408.6335 million. These values correspond to 16.32%, 15.47%, 8.28%, 7.95%, 6.79% of LATVIA's imports and exports, and, respectively, were 0, up 15.43%, up 10.62%, up 4.81%, down 9.78% comparing to the same period of last year.

Current year until 202205, LATVIA and the top five trade partners INTRA-EU, LITHUANIA, ESTONIA, RUSSIA, GERMANY are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202205, LATVIA's exports to these five countries/territories were 1375.2700 million, 1337.3218 million, 891.9516 million, 800.4138 million, 542.2010 million. These values correspond to 14.97%, 14.56%, 9.71%, 8.71%, 5.90% of LATVIA's exports and, respectively, were 0, up 4.74%, up 9.99%, down 8.32%, up 3.95% comparing with the same period of last year.

Current year until 202205, 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 202205, LATVIA's imports from these five countries/territories were 2010.0100 million, 1870.8028 million, 916.3735 million, 866.4324 million, 834.7280 million. These values correspond to 17.40%, 16.19%, 7.93%, 7.50%, 7.23% of LATVIA's total imports and, respectively, were 0, up 24.51%, up 34.99%, down 16.66%, down 2.96% comparing with the same period of last year.

During the current year until 202205, the trade surplus of LATVIA was mainly from UNITED KINGDOM, UNITED STATES, SWEDEN, NORWAY, ESTONIA at 362.4156 million, 162.1880 million, 150.2470 million, 138.7821 million, 135.6735 million, and down 16.59%, up 60.78%, up 0.57%, up 19.41%, up 175.62%. And the trade deficits were mainly from INTRA-EU, LITHUANIA, POLAND, CANADA, CHINA at 634.7400 million, 533.4810 million, 529.9760 million, 374.2752 million, 370.6488 million, and 0, up 136.33%, down 4.56%, up 305.19%, up 16.07%.

Current year until 202205, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202205,  commodities with hs2 codes, 99, 44, 27, 85, 84, were LATVIA's top five traded commodities. They correspond to the import and export values of 3388.5107 million, 1954.1348 million, 1947.6089 million, 1619.0647 million, 1273.0115 million, which were up 105719.93%, up 6.88%, up 101.99%, down 12.43%, down 10.02% comparing with the same period of last year and account for 16.34%, 9.42%, 9.39%, 7.81%, 6.14% of LATVIA's total imports and exports.

During the current year until 202205, 44, 99, 85, 27, 84 were LATVIA's top five traded commodities, with total import and export values of 1495.3532 million, 1378.5007 million, 675.0993 million, 642.8942 million, 490.2915 million. These values correspond to 16.28%, 15.00%, 7.35%, 7.00%, 5.34% of LATVIA's total exports and, respectively, were up 7.76%, up 42949.25%, down 19.65%, up 70.92%, down 2.20% comparing to the same period of last year.

During the current year until 202205, 99, 27, 85, 84, 87 were LATVIA's top five traded commodities, with total import values of 2010.0100 million, 1304.7146 million, 943.9654 million, 782.7201 million, 564.7743 million. These values correspond to 17.40%, 11.29%, 8.17%, 6.78%, 4.89% of LATVIA's total exports and, respectively, were 0, up 121.86%, down 6.41%, down 14.31%, down 20.32% comparing to the same period of last year.

2. Current year until 202205, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202205, LATVIA-China binational exports and imports of goods amounted to 561.1667 million and were up 19.45% comparing with the same period of last year. Among these, exports from LATVIA to China were 95.2589 million and up 26.62%, imports from China to LATVIA were 465.9077 million and up 18.08%. The total binational trade deficit was 370.6488 million and up 16.07%.

During the urrent year until 202205, 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 156.5881 million, 76.6870 million, 47.3344 million, 37.9064 million, 26.7890 million and makes up 27.90%, 13.67%, 8.44%, 6.75%, 4.77% of the total binational imports and exports. These values were also down 12.00%, up 18.54%, up 347.43%, up 28.17%, down 23.17% comparing to the same period last year.

During the current year until 202205, 44, 27, 90, 85, 74 were the top five traded commodities exported to China from LATVIA, with export values of 36.7690 million, 17.3803 million, 11.5728 million, 7.5617 million, 7.1979 million. These values account for 38.60%, 18.25%, 12.15%, 7.94%, 7.56% of LATVIA's total exports and were up 26.51%, up 70.75%, up 134.68%, up 14.35%, up 64.65% comparing to the same period of last year.

During the current year until 202205, 85, 84, 38, 39, 40 were LATVIA's top five traded commodities importing from China , with import values of 149.0265 million, 74.5657 million, 46.3733 million, 23.7490 million, 22.6054 million. These values account for 31.99%, 16.00%, 9.95%, 5.10%, 4.85% of LATVIA's total imports and were down 13.01%, up 17.66%, up 362.18%, up 152.22%, up 91.25% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat