1.  Overview the trade of LATVIA in goods current year until 202206

According to Dalian Infobank, in 202206, LATVIA's exports and imports of goods amounted to 4139.2937 million, and were up 8.42% comparing with the same period of last year. Among these, exports were up 9.76% at 1822.7392 million, and imports were up 7.39% at 2316.5545 million. And the corresponding trade deficit was 493.8154 million and down 0.55%.

During the current year until 202206, LATVIA's total exports and imports of goods were 25038.4033 million and were up 21.90% comparing to the same period of last year. Among these, exports were 11121.2437 million and up 18.34%; imports were 13917.1597 million and up 24.91%. The total trade deficit was 2795.9160 million and up 60.34%.

If considering by country (region), LITHUANIA, INTRA-EU, ESTONIA, RUSSIA, GERMANY were LATVIA's top five trading partners. During the current year until 202206, LATVIA's imports and exports to five countries/territories were 4201.1640 million, 3169.8000 million, 2100.2263 million, 2094.8675 million, 1832.0998 million. These values correspond to 16.78%, 12.66%, 8.39%, 8.37%, 7.32% of LATVIA's imports and exports, and, respectively, were up 24.68%, 0, up 7.75%, up 6.30%, down 2.94% comparing to the same period of last year.

Current year until 202206, LATVIA and the top five trade partners LITHUANIA, INTRA-EU, 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 202206, LATVIA's exports to these five countries/territories were 1697.2828 million, 1267.9200 million, 1110.5000 million, 1034.5876 million, 685.1264 million. These values correspond to 15.26%, 11.40%, 9.99%, 9.30%, 6.16% of LATVIA's exports and, respectively, were up 9.20%, 0, up 10.09%, down 1.15%, up 8.51% comparing with the same period of last year.

Current year until 202206, LATVIA's exports to top five countries/territories LITHUANIA, INTRA-EU, GERMANY, POLAND, RUSSIA are the top five countries/territories that LATVIA imports from in terms of the total export amount. During the current year until 202206, LATVIA's imports from these five countries/territories were 2503.8813 million, 1901.8800 million, 1146.9733 million, 1083.0627 million, 1060.2799 million. These values correspond to 17.99%, 13.67%, 8.24%, 7.78%, 7.62% of LATVIA's total imports and, respectively, were up 37.94%, 0, down 8.70%, up 3.25%, up 14.74% comparing with the same period of last year.

During the current year until 202206, the trade surplus of LATVIA was mainly from UNITED KINGDOM, SWEDEN, UNITED STATES, NORWAY, DENMARK at 472.6583 million, 206.5100 million, 187.9755 million, 162.2858 million, 155.3629 million, and down 15.59%, up 14.01%, up 60.36%, up 13.10%, down 8.40%. And the trade deficits were mainly from LITHUANIA, POLAND, INTRA-EU, GERMANY, CHINA at 806.5985 million, 713.6664 million, 633.9600 million, 461.8469 million, 427.5237 million, and up 209.23%, up 5.13%, 0, down 26.09%, up 12.42%.

Current year until 202206, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202206,  commodities with hs2 codes, 99, 27, 44, 85, 84, were LATVIA's top five traded commodities. They correspond to the import and export values of 3173.9026 million, 2593.5591 million, 2472.6957 million, 1992.4353 million, 1664.1174 million, which were up 78080.47%, up 98.58%, up 7.04%, down 10.17%, down 2.77% comparing with the same period of last year and account for 12.68%, 10.36%, 9.88%, 7.96%, 6.65% of LATVIA's total imports and exports.

During the current year until 202206, 44, 99, 85, 27, 84 were LATVIA's top five traded commodities, with total import and export values of 1894.9633 million, 1272.0226 million, 835.1697 million, 831.9969 million, 669.5217 million. These values correspond to 17.04%, 11.44%, 7.51%, 7.48%, 6.02% of LATVIA's total exports and, respectively, were up 8.07%, up 31232.82%, down 16.97%, up 74.89%, up 10.26% comparing to the same period of last year.

During the current year until 202206, 99, 27, 85, 84, 87 were LATVIA's top five traded commodities, with total import values of 1901.8800 million, 1761.5622 million, 1157.2656 million, 994.5957 million, 735.6667 million. These values correspond to 13.67%, 12.66%, 8.32%, 7.15%, 5.29% of LATVIA's total exports and, respectively, were 0, up 112.16%, down 4.52%, down 9.93%, down 15.49% comparing to the same period of last year.

2. Current year until 202206, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202206, LATVIA-China binational exports and imports of goods amounted to 660.6737 million and were up 17.22% comparing with the same period of last year. Among these, exports from LATVIA to China were 116.5750 million and up 27.20%, imports from China to LATVIA were 544.0987 million and up 15.29%. The total binational trade deficit was 427.5237 million and up 12.42%.

During the urrent year until 202206, 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 189.5895 million, 87.4024 million, 49.5041 million, 45.6993 million, 30.4646 million and makes up 28.70%, 13.23%, 7.49%, 6.92%, 4.61% of the total binational imports and exports. These values were also down 12.63%, up 13.90%, up 309.09%, up 22.04%, down 25.46% comparing to the same period last year.

During the current year until 202206, 44, 27, 90, 85, 74 were the top five traded commodities exported to China from LATVIA, with export values of 44.4639 million, 22.2453 million, 12.4459 million, 9.7106 million, 8.2876 million. These values account for 38.14%, 19.08%, 10.68%, 8.33%, 7.11% of LATVIA's total exports and were up 20.74%, up 90.25%, up 126.69%, up 14.55%, up 42.15% comparing to the same period of last year.

During the current year until 202206, 85, 84, 38, 40, 39 were LATVIA's top five traded commodities importing from China , with import values of 179.8789 million, 85.1892 million, 47.1501 million, 26.9656 million, 25.5338 million. These values account for 33.06%, 15.66%, 8.67%, 4.96%, 4.69% of LATVIA's total imports and were down 13.73%, up 13.14%, up 309.45%, up 111.19%, up 135.66% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat