1.  Overview the trade of LATVIA in goods current year until 202211

According to Dalian Infobank, in 202211, LATVIA's exports and imports of goods amounted to 4632.5355 million, and were up 14.27% comparing with the same period of last year. Among these, exports were up 4.39% at 2084.7375 million, and imports were up 23.86% at 2547.7980 million. And the corresponding trade deficit was 463.0606 million and up 671.71%.

During the current year until 202211, LATVIA's total exports and imports of goods were 48288.6210 million and were up 16.74% comparing to the same period of last year. Among these, exports were 21520.5327 million and up 13.60%; imports were 26768.0883 million and up 19.40%. The total trade deficit was 5247.5556 million and up 51.02%.

If considering by country (region), LITHUANIA, ESTONIA, RUSSIA, GERMANY, INTRA-EU were LATVIA's top five trading partners. During the current year until 202211, LATVIA's imports and exports to five countries/territories were 9147.2656 million, 4710.7892 million, 3953.0659 million, 3694.6377 million, 3570.3500 million. These values correspond to 18.94%, 9.76%, 8.19%, 7.65%, 7.39% of LATVIA's imports and exports, and, respectively, were up 34.97%, up 16.18%, down 6.83%, up 0.66%, 0 comparing to the same period of last year.

Current year until 202211, 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 202211, LATVIA's exports to these five countries/territories were 3481.6050 million, 2221.1672 million, 2089.9842 million, 1428.1400 million, 1335.0425 million. These values correspond to 16.18%, 10.32%, 9.71%, 6.64%, 6.20% of LATVIA's exports and, respectively, were up 12.63%, up 5.55%, up 0.81%, 0, up 0.66% comparing with the same period of last year.

Current year until 202211, LATVIA's exports to top five countries/territories LITHUANIA, ESTONIA, GERMANY, POLAND, INTRA-EU are the top five countries/territories that LATVIA imports from in terms of the total export amount. During the current year until 202211, LATVIA's imports from these five countries/territories were 5665.6605 million, 2489.6220 million, 2359.5953 million, 2218.8937 million, 2142.2100 million. These values correspond to 21.17%, 9.30%, 8.81%, 8.29%, 8.00% of LATVIA's total imports and, respectively, were up 53.70%, up 27.65%, up 0.67%, up 8.48%, 0 comparing with the same period of last year.

During the current year until 202211, the trade surplus of LATVIA was mainly from UNITED KINGDOM, SWEDEN, UNITED STATES, DENMARK, NORWAY at 895.4616 million, 430.2412 million, 342.5153 million, 300.2139 million, 291.5415 million, and down 29.13%, up 27.61%, up 60.55%, down 9.70%, up 6.39%. And the trade deficits were mainly from LITHUANIA, POLAND, GERMANY, CHINA, INTRA-EU at 2184.0555 million, 1495.9291 million, 1024.5528 million, 749.1656 million, 714.0700 million, and up 266.94%, up 15.87%, up 0.68%, up 0.23%, 0.

Current year until 202211, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202211,  commodities with hs2 codes, 27, 44, 85, 99, 84, were LATVIA's top five traded commodities. They correspond to the import and export values of 6942.6383 million, 4316.8566 million, 4029.8504 million, 3605.5516 million, 3292.7027 million, which were up 111.40%, down 6.66%, down 3.59%, up 45467.26%, up 0.09% comparing with the same period of last year and account for 14.38%, 8.94%, 8.35%, 7.47%, 6.82% of LATVIA's total imports and exports.

During the current year until 202211, 44, 27, 85, 99, 84 were LATVIA's top five traded commodities, with total import and export values of 3409.4916 million, 2143.9933 million, 1747.8543 million, 1436.8939 million, 1247.6946 million. These values correspond to 15.84%, 9.96%, 8.12%, 6.68%, 5.80% of LATVIA's total exports and, respectively, were down 3.18%, up 86.18%, down 7.73%, up 18059.59%, up 5.67% comparing to the same period of last year.

During the current year until 202211, 27, 85, 99, 84, 87 were LATVIA's top five traded commodities, with total import values of 4798.6451 million, 2281.9961 million, 2168.6577 million, 2045.0081 million, 1573.6505 million. These values correspond to 17.93%, 8.53%, 8.10%, 7.64%, 5.88% of LATVIA's total exports and, respectively, were up 125.01%, down 0.16%, 0, down 3.04%, up 4.83% comparing to the same period of last year.

2. Current year until 202211, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202211, LATVIA-China binational exports and imports of goods amounted to 1197.2242 million and were up 9.16% comparing with the same period of last year. Among these, exports from LATVIA to China were 224.0293 million and up 28.28%, imports from China to LATVIA were 973.1949 million and up 5.54%. The total binational trade deficit was 749.1656 million and up 0.23%.

During the urrent year until 202211, 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 363.9050 million, 147.4779 million, 72.0490 million, 60.4146 million, 55.5506 million and makes up 30.40%, 12.32%, 6.02%, 5.05%, 4.64% of the total binational imports and exports. These values were also down 9.17%, up 2.53%, down 1.83%, up 24.19%, down 13.05% comparing to the same period last year.

During the current year until 202211, 44, 27, 90, 85, 74 were the top five traded commodities exported to China from LATVIA, with export values of 68.8669 million, 45.4917 million, 23.8259 million, 21.8108 million, 13.8528 million. These values account for 30.74%, 20.31%, 10.64%, 9.74%, 6.18% of LATVIA's total exports and were down 4.56%, up 98.26%, up 91.74%, up 34.72%, up 8.92% comparing to the same period of last year.

During the current year until 202211, 85, 84, 38, 40, 94 were LATVIA's top five traded commodities importing from China , with import values of 342.0942 million, 142.4116 million, 53.8277 million, 51.2672 million, 37.8911 million. These values account for 35.15%, 14.63%, 5.53%, 5.27%, 3.89% of LATVIA's total imports and were down 11.02%, up 0.60%, up 13.61%, up 29.22%, down 1.89% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat