1.  Overview the trade of LATVIA in goods current year until 202208

According to Dalian Infobank, in 202208, LATVIA's exports and imports of goods amounted to 4570.0883 million, and were up 6.36% comparing with the same period of last year. Among these, exports were up 1.97% at 1882.7132 million, and imports were up 9.67% at 2687.3750 million. And the corresponding trade deficit was 804.6618 million and up 33.18%.

During the current year until 202208, LATVIA's total exports and imports of goods were 33878.0123 million and were up 17.91% comparing to the same period of last year. Among these, exports were 14837.9983 million and up 14.60%; imports were 19040.0140 million and up 20.63%. The total trade deficit was 4202.0157 million and up 48.13%.

If considering by country (region), LITHUANIA, INTRA-EU, ESTONIA, RUSSIA, GERMANY were LATVIA's top five trading partners. During the current year until 202208, LATVIA's imports and exports to five countries/territories were 6037.4077 million, 3443.5200 million, 3032.6351 million, 2876.2433 million, 2588.0572 million. These values correspond to 17.82%, 10.16%, 8.95%, 8.49%, 7.64% of LATVIA's imports and exports, and, respectively, were up 27.78%, 0, up 9.50%, down 1.30%, up 0.50% comparing to the same period of last year.

Current year until 202208, 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 202208, LATVIA's exports to these five countries/territories were 2369.4893 million, 1496.8540 million, 1412.1767 million, 1316.6400 million, 939.2946 million. These values correspond to 15.97%, 10.09%, 9.52%, 8.87%, 6.33% of LATVIA's exports and, respectively, were up 11.44%, up 5.27%, down 1.64%, 0, up 4.94% comparing with the same period of last year.

Current year until 202208, LATVIA's exports to top five countries/territories LITHUANIA, INTRA-EU, GERMANY, ESTONIA, POLAND are the top five countries/territories that LATVIA imports from in terms of the total export amount. During the current year until 202208, LATVIA's imports from these five countries/territories were 3667.9184 million, 2126.8800 million, 1648.7626 million, 1535.7811 million, 1532.6386 million. These values correspond to 19.26%, 11.17%, 8.66%, 8.07%, 8.05% of LATVIA's total imports and, respectively, were up 41.14%, 0, down 1.86%, up 13.96%, up 6.69% comparing with the same period of last year.

During the current year until 202208, the trade surplus of LATVIA was mainly from UNITED KINGDOM, SWEDEN, UNITED STATES, NORWAY, DENMARK at 632.0415 million, 280.5570 million, 237.1511 million, 202.6040 million, 196.5610 million, and down 27.38%, up 19.04%, up 45.17%, up 3.95%, down 8.81%. And the trade deficits were mainly from LITHUANIA, POLAND, INTRA-EU, GERMANY, CHINA at 1298.4292 million, 1035.4950 million, 810.2400 million, 709.4680 million, 559.2809 million, and up 174.74%, up 11.86%, 0, down 9.61%, up 5.91%.

Current year until 202208, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202208,  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 4112.1068 million, 3453.9872 million, 3215.4039 million, 2764.5891 million, 2285.9447 million, which were up 95.27%, up 60464.65%, down 1.59%, down 5.56%, down 2.23% comparing with the same period of last year and account for 12.14%, 10.20%, 9.49%, 8.16%, 6.75% of LATVIA's total imports and exports.

During the current year until 202208, 44, 99, 27, 85, 84 were LATVIA's top five traded commodities, with total import and export values of 2502.1364 million, 1322.7485 million, 1180.8696 million, 1169.6892 million, 881.6132 million. These values correspond to 16.86%, 8.91%, 7.96%, 7.88%, 5.94% of LATVIA's total exports and, respectively, were up 1.49%, up 23094.00%, up 66.86%, down 11.86%, up 6.07% comparing to the same period of last year.

During the current year until 202208, 27, 99, 85, 84, 87 were LATVIA's top five traded commodities, with total import values of 2931.2372 million, 2131.2387 million, 1594.8999 million, 1404.3315 million, 1089.9626 million. These values correspond to 15.40%, 11.19%, 8.38%, 7.38%, 5.72% of LATVIA's total exports and, respectively, were up 109.65%, 0, down 0.33%, down 6.82%, down 3.26% comparing to the same period of last year.

2. Current year until 202208, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202208, LATVIA-China binational exports and imports of goods amounted to 893.6337 million and were up 16.51% comparing with the same period of last year. Among these, exports from LATVIA to China were 167.1764 million and up 39.94%, imports from China to LATVIA were 726.4573 million and up 12.19%. The total binational trade deficit was 559.2809 million and up 5.91%.

During the urrent year until 202208, 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 269.1610 million, 111.0521 million, 57.1385 million, 56.5179 million, 42.0000 million and makes up 30.12%, 12.43%, 6.39%, 6.32%, 4.70% of the total binational imports and exports. These values were also down 6.73%, up 10.57%, up 22.13%, up 116.13%, down 19.16% comparing to the same period last year.

During the current year until 202208, 44, 27, 90, 85, 74 were the top five traded commodities exported to China from LATVIA, with export values of 55.2903 million, 32.0853 million, 19.8302 million, 14.2399 million, 10.4244 million. These values account for 33.07%, 19.19%, 11.86%, 8.52%, 6.24% of LATVIA's total exports and were up 20.31%, up 112.22%, up 115.53%, up 21.84%, up 21.87% comparing to the same period of last year.

During the current year until 202208, 85, 84, 38, 40, 94 were LATVIA's top five traded commodities importing from China , with import values of 254.9211 million, 107.2979 million, 51.8443 million, 37.0120 million, 30.6427 million. These values account for 35.09%, 14.77%, 7.14%, 5.09%, 4.22% of LATVIA's total imports and were down 7.93%, up 8.87%, up 104.04%, up 47.73%, up 10.40% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat