1.  Overview the trade of LATVIA in goods current year until 202207

According to Dalian Infobank, in 202207, LATVIA's exports and imports of goods amounted to 4095.2915 million, and were up 5.07% comparing with the same period of last year. Among these, exports were down 4.28% at 1630.9738 million, and imports were up 12.34% at 2464.3176 million. And the corresponding trade deficit was 833.3438 million and up 70.19%.

During the current year until 202207, LATVIA's total exports and imports of goods were 29234.4025 million and were up 19.63% comparing to the same period of last year. Among these, exports were 12829.5560 million and up 15.56%; imports were 16404.8465 million and up 23.02%. The total trade deficit was 3575.2905 million and up 60.08%.

If considering by country (region), LITHUANIA, INTRA-EU, ESTONIA, RUSSIA, GERMANY were LATVIA's top five trading partners. During the current year until 202207, LATVIA's imports and exports to five countries/territories were 5046.8103 million, 3155.4900 million, 2561.2733 million, 2459.2761 million, 2232.7096 million. These values correspond to 17.26%, 10.79%, 8.76%, 8.41%, 7.64% of LATVIA's imports and exports, and, respectively, were up 25.51%, 0, up 9.31%, down 0.69%, up 0.50% comparing to the same period of last year.

Current year until 202207, LATVIA and the top five trade partners LITHUANIA, ESTONIA, RUSSIA, INTRA-EU, GERMANY are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202207, LATVIA's exports to these five countries/territories were 2042.1134 million, 1306.5592 million, 1229.3467 million, 1119.6900 million, 820.3082 million. These values correspond to 15.92%, 10.18%, 9.58%, 8.73%, 6.39% of LATVIA's exports and, respectively, were up 11.13%, up 8.65%, down 1.46%, 0, up 9.78% comparing with the same period of last year.

Current year until 202207, LATVIA's exports to top five countries/territories LITHUANIA, INTRA-EU, 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 202207, LATVIA's imports from these five countries/territories were 3004.6969 million, 2035.8000 million, 1412.4014 million, 1318.5161 million, 1254.7141 million. These values correspond to 18.32%, 12.41%, 8.61%, 8.04%, 7.65% of LATVIA's total imports and, respectively, were up 37.62%, 0, down 4.20%, up 5.99%, up 10.00% comparing with the same period of last year.

During the current year until 202207, the trade surplus of LATVIA was mainly from UNITED KINGDOM, SWEDEN, UNITED STATES, NORWAY, DENMARK at 549.9259 million, 232.2912 million, 218.4000 million, 177.3197 million, 174.3346 million, and down 21.61%, up 17.85%, up 57.95%, up 6.92%, down 4.13%. And the trade deficits were mainly from LITHUANIA, INTRA-EU, POLAND, GERMANY, CHINA at 962.5835 million, 916.1100 million, 885.9298 million, 592.0932 million, 480.2848 million, and up 178.52%, 0, up 10.71%, down 18.58%, up 8.48%.

Current year until 202207, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202207,  commodities with hs2 codes, 27, 99, 44, 85, 84, were LATVIA's top five traded commodities. They correspond to the import and export values of 3233.7387 million, 3162.4941 million, 2863.2690 million, 2370.5541 million, 1980.8471 million, which were up 90.86%, up 64546.48%, up 2.50%, down 7.82%, down 3.24% comparing with the same period of last year and account for 11.06%, 10.82%, 9.79%, 8.11%, 6.78% of LATVIA's total imports and exports.

During the current year until 202207, 44, 99, 27, 85, 84 were LATVIA's top five traded commodities, with total import and export values of 2205.0486 million, 1124.6897 million, 1012.5281 million, 1008.9414 million, 777.0217 million. These values correspond to 17.19%, 8.77%, 7.89%, 7.86%, 6.06% of LATVIA's total exports and, respectively, were up 4.30%, up 22890.47%, up 73.66%, down 13.50%, up 7.51% comparing to the same period of last year.

During the current year until 202207, 27, 99, 85, 84, 87 were LATVIA's top five traded commodities, with total import values of 2221.2106 million, 2037.8044 million, 1361.6127 million, 1203.8254 million, 919.3232 million. These values correspond to 13.54%, 12.42%, 8.30%, 7.34%, 5.60% of LATVIA's total exports and, respectively, were up 99.88%, 0, down 3.11%, down 9.11%, down 9.15% comparing to the same period of last year.

2. Current year until 202207, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202207, LATVIA-China binational exports and imports of goods amounted to 761.9473 million and were up 16.33% comparing with the same period of last year. Among these, exports from LATVIA to China were 140.8312 million and up 32.70%, imports from China to LATVIA were 621.1161 million and up 13.16%. The total binational trade deficit was 480.2848 million and up 8.48%.

During the urrent year until 202207, commodities with hs2 code, 85, 84, 44, 38, 90, were binational trade's top five traded commodities. They correspond to import and export values of 220.7703 million, 98.0473 million, 51.5566 million, 50.9280 million, 38.5209 million and makes up 28.97%, 12.87%, 6.77%, 6.68%, 5.06% of the total binational imports and exports. These values were also down 12.20%, up 11.43%, up 22.94%, up 218.29%, down 19.33% comparing to the same period last year.

During the current year until 202207, 44, 27, 90, 85, 74 were the top five traded commodities exported to China from LATVIA, with export values of 50.0107 million, 26.8844 million, 18.9958 million, 11.5044 million, 9.1831 million. These values account for 35.51%, 19.09%, 13.49%, 8.17%, 6.52% of LATVIA's total exports and were up 21.30%, up 102.86%, up 140.71%, up 14.67%, up 33.43% comparing to the same period of last year.

During the current year until 202207, 85, 84, 38, 40, 94 were LATVIA's top five traded commodities importing from China , with import values of 209.2659 million, 95.0589 million, 47.7731 million, 31.9200 million, 27.6932 million. These values account for 33.69%, 15.30%, 7.69%, 5.14%, 4.46% of LATVIA's total imports and were down 13.32%, up 10.34%, up 211.20%, up 93.41%, up 14.19% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat