1.  Overview the trade of LATVIA in goods current year until 202210

According to Dalian Infobank, in 202210, LATVIA's exports and imports of goods amounted to 4428.7414 million, and were up 4.17% comparing with the same period of last year. Among these, exports were down 0.82% at 1936.4635 million, and imports were up 8.40% at 2492.2779 million. And the corresponding trade deficit was 555.8144 million and up 60.32%.

During the current year until 202210, LATVIA's total exports and imports of goods were 43518.3169 million and were up 16.64% comparing to the same period of last year. Among these, exports were 19343.5099 million and up 14.14%; imports were 24174.8070 million and up 18.72%. The total trade deficit was 4831.2971 million and up 41.48%.

If considering by country (region), LITHUANIA, ESTONIA, GERMANY, RUSSIA, POLAND were LATVIA's top five trading partners. During the current year until 202210, LATVIA's imports and exports to five countries/territories were 9162.5985 million, 4671.8828 million, 3669.4807 million, 3596.9161 million, 2931.1296 million. These values correspond to 21.05%, 10.74%, 8.43%, 8.27%, 6.74% of LATVIA's imports and exports, and, respectively, were up 49.93%, up 27.80%, up 11.40%, down 6.61%, up 16.51% comparing to the same period of last year.

Current year until 202210, LATVIA and the top five trade partners LITHUANIA, ESTONIA, RUSSIA, GERMANY, SWEDEN are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202210, LATVIA's exports to these five countries/territories were 3481.5738 million, 2187.9100 million, 1831.6163 million, 1334.9359 million, 1060.7437 million. These values correspond to 18.00%, 11.31%, 9.47%, 6.90%, 5.48% of LATVIA's exports and, respectively, were up 25.04%, up 17.17%, down 1.19%, up 13.09%, up 20.12% comparing with the same period of last year.

Current year until 202210, LATVIA's exports to top five countries/territories LITHUANIA, ESTONIA, 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 202210, LATVIA's imports from these five countries/territories were 5681.0248 million, 2483.9728 million, 2334.5448 million, 2209.1527 million, 1765.2998 million. These values correspond to 23.50%, 10.28%, 9.66%, 9.14%, 7.30% of LATVIA's total imports and, respectively, were up 70.77%, up 38.89%, up 10.46%, up 19.55%, down 11.64% comparing with the same period of last year.

During the current year until 202210, the trade surplus of LATVIA was mainly from UNITED KINGDOM, SWEDEN, UNITED STATES, DENMARK, NORWAY at 892.9293 million, 431.9350 million, 308.7353 million, 305.0831 million, 260.6716 million, and down 23.57%, up 44.78%, up 59.21%, up 5.68%, up 5.76%. And the trade deficits were mainly from LITHUANIA, POLAND, GERMANY, CHINA, ITALY at 2199.4510 million, 1487.1758 million, 999.6089 million, 691.9323 million, 541.5012 million, and up 305.61%, up 26.03%, up 7.13%, up 2.54%, up 5.72%.

Current year until 202210, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202210,  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 6811.2317 million, 4263.9221 million, 3899.8416 million, 3157.3885 million, 2343.0613 million, which were up 132.23%, up 1.37%, up 3.42%, up 6.55%, up 11.59% comparing with the same period of last year and account for 15.65%, 9.80%, 8.96%, 7.26%, 5.38% of LATVIA's total imports and exports.

During the current year until 202210, 44, 27, 85, 84, 87 were LATVIA's top five traded commodities, with total import and export values of 3371.0742 million, 2057.6261 million, 1686.7828 million, 1174.2491 million, 775.8562 million. These values correspond to 17.43%, 10.64%, 8.72%, 6.07%, 4.01% of LATVIA's total exports and, respectively, were up 5.65%, up 107.44%, down 1.47%, up 10.05%, up 7.61% comparing to the same period of last year.

During the current year until 202210, 27, 85, 84, 87, 39 were LATVIA's top five traded commodities, with total import values of 4753.6056 million, 2213.0589 million, 1983.1394 million, 1567.2051 million, 989.8392 million. These values correspond to 19.66%, 9.15%, 8.20%, 6.48%, 4.09% of LATVIA's total exports and, respectively, were up 144.89%, up 7.48%, up 4.58%, up 13.67%, up 7.44% comparing to the same period of last year.

2. Current year until 202210, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202210, LATVIA-China binational exports and imports of goods amounted to 1106.1758 million and were up 12.01% comparing with the same period of last year. Among these, exports from LATVIA to China were 207.1217 million and up 32.43%, imports from China to LATVIA were 899.0540 million and up 8.16%. The total binational trade deficit was 691.9323 million and up 2.54%.

During the urrent year until 202210, commodities with hs2 code, 85, 84, 44, 38, 40, were binational trade's top five traded commodities. They correspond to import and export values of 331.9077 million, 136.6149 million, 67.6962 million, 59.7566 million, 50.5745 million and makes up 30.00%, 12.35%, 6.12%, 5.40%, 4.57% of the total binational imports and exports. These values were also down 9.11%, up 9.31%, up 3.62%, up 34.57%, up 42.80% comparing to the same period last year.

During the current year until 202210, 44, 27, 90, 85, 74 were the top five traded commodities exported to China from LATVIA, with export values of 64.8001 million, 42.0087 million, 22.5687 million, 18.9160 million, 12.6415 million. These values account for 31.29%, 20.28%, 10.90%, 9.13%, 6.10% of LATVIA's total exports and were up 0.89%, up 109.60%, up 98.00%, up 28.31%, up 12.62% comparing to the same period of last year.

During the current year until 202210, 85, 84, 38, 40, 94 were LATVIA's top five traded commodities importing from China , with import values of 312.9917 million, 131.7813 million, 53.4343 million, 50.5196 million, 35.7109 million. These values account for 34.81%, 14.66%, 5.94%, 5.62%, 3.97% of LATVIA's total imports and were down 10.68%, up 7.24%, up 22.50%, up 42.76%, up 4.22% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat