1.  Overview the trade of LATVIA in goods current year until 202212

According to Dalian Infobank, in 202212, LATVIA's exports and imports of goods amounted to 4561.2840 million, and were up 16.50% comparing with the same period of last year. Among these, exports were up 2.84% at 1942.0548 million, and imports were up 29.21% at 2619.2293 million. And the corresponding trade deficit was 677.1745 million and up 388.21%.

During the current year until 202212, LATVIA's total exports and imports of goods were 53051.3843 million and were up 17.16% comparing to the same period of last year. Among these, exports were 23667.3771 million and up 13.60%; imports were 29384.0072 million and up 20.20%. The total trade deficit was 5716.6301 million and up 58.20%.

If considering by country (region), LITHUANIA, ESTONIA, RUSSIA, GERMANY, POLAND were LATVIA's top five trading partners. During the current year until 202212, LATVIA's imports and exports to five countries/territories were 10146.2312 million, 5192.2013 million, 4417.0181 million, 4066.1408 million, 3252.6670 million. These values correspond to 19.13%, 9.79%, 8.33%, 7.66%, 6.13% of LATVIA's imports and exports, and, respectively, were up 34.87%, up 17.10%, down 4.49%, up 1.85%, up 6.19% comparing to the same period of last year.

Current year until 202212, LATVIA and the top five trade partners LITHUANIA, ESTONIA, RUSSIA, GERMANY, INTRA-EU are the top five countries/territories that LATVIA exports to in terms of the total export amount. During the current year until 202212, LATVIA's exports to these five countries/territories were 3792.6889 million, 2485.5505 million, 2314.6334 million, 1454.2179 million, 1270.6800 million. These values correspond to 16.02%, 10.50%, 9.78%, 6.14%, 5.37% of LATVIA's exports and, respectively, were up 9.75%, up 8.09%, up 1.29%, up 1.76%, 0 comparing with the same period of last year.

Current year until 202212, 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 202212, LATVIA's imports from these five countries/territories were 6353.5423 million, 2706.6508 million, 2611.9229 million, 2438.6602 million, 2102.3848 million. These values correspond to 21.62%, 9.21%, 8.89%, 8.30%, 7.15% of LATVIA's total imports and, respectively, were up 56.20%, up 26.81%, up 1.91%, up 9.38%, down 10.15% comparing with the same period of last year.

During the current year until 202212, the trade surplus of LATVIA was mainly from UNITED KINGDOM, SWEDEN, UNITED STATES, DENMARK, NORWAY at 967.2710 million, 472.2352 million, 343.6285 million, 333.4455 million, 313.0585 million, and down 28.02%, up 30.11%, up 47.22%, down 8.34%, up 5.13%. And the trade deficits were mainly from LITHUANIA, POLAND, GERMANY, CHINA, CANADA at 2560.8535 million, 1624.6534 million, 1157.7050 million, 807.5424 million, 663.8320 million, and up 318.62%, up 16.40%, up 2.11%, down 1.66%, down 0.51%.

Current year until 202212, LATVIA's trade surplus or deficit with top five countries/territories During the current year until 202212,  commodities with hs2 codes, 27, 44, 85, 84, 99, were LATVIA's top five traded commodities. They correspond to the import and export values of 7905.2476 million, 4660.6658 million, 4484.0377 million, 3635.2041 million, 3185.6711 million, which were up 112.94%, down 6.02%, down 1.86%, down 0.17%, up 36632.51% comparing with the same period of last year and account for 14.90%, 8.79%, 8.45%, 6.85%, 6.00% of LATVIA's total imports and exports.

During the current year until 202212, 44, 27, 85, 84, 99 were LATVIA's top five traded commodities, with total import and export values of 3690.8113 million, 2465.2021 million, 1963.3985 million, 1373.9950 million, 1354.9114 million. These values correspond to 15.59%, 10.42%, 8.30%, 5.81%, 5.72% of LATVIA's total exports and, respectively, were down 2.50%, up 81.67%, down 4.83%, up 4.33%, up 15522.86% comparing to the same period of last year.

During the current year until 202212, 27, 85, 84, 99, 87 were LATVIA's top five traded commodities, with total import values of 5440.0454 million, 2520.6392 million, 2261.2091 million, 1830.7597 million, 1724.8451 million. These values correspond to 18.51%, 8.58%, 7.70%, 6.23%, 5.87% of LATVIA's total exports and, respectively, were up 130.94%, up 0.59%, down 2.72%, 0, up 5.71% comparing to the same period of last year.

2. Current year until 202212, LATVIA binational trade profile

According to Dalian Infobank, during the current year until 202212, LATVIA-China binational exports and imports of goods amounted to 1289.6362 million and were up 6.54% comparing with the same period of last year. Among these, exports from LATVIA to China were 241.0469 million and up 23.84%, imports from China to LATVIA were 1048.5893 million and up 3.22%. The total binational trade deficit was 807.5424 million and down 1.66%.

During the urrent year until 202212, 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 394.0555 million, 162.2755 million, 75.2850 million, 61.2632 million, 61.0479 million and makes up 30.56%, 12.58%, 5.84%, 4.75%, 4.73% of the total binational imports and exports. These values were also down 8.63%, up 1.24%, down 5.35%, down 4.36%, down 10.03% comparing to the same period last year.

During the current year until 202212, 44, 27, 90, 85, 74 were the top five traded commodities exported to China from LATVIA, with export values of 71.9771 million, 49.1371 million, 25.4077 million, 24.8731 million, 15.2760 million. These values account for 29.86%, 20.38%, 10.54%, 10.32%, 6.34% of LATVIA's total exports and were down 7.95%, up 93.21%, up 92.97%, up 31.69%, down 9.13% comparing to the same period of last year.

During the current year until 202212, 85, 84, 38, 40, 94 were LATVIA's top five traded commodities importing from China , with import values of 369.1825 million, 156.8168 million, 54.6268 million, 52.0207 million, 40.5557 million. These values account for 35.21%, 14.96%, 5.21%, 4.96%, 3.87% of LATVIA's total imports and were down 10.47%, down 0.55%, down 12.74%, up 21.85%, down 5.30% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Eurostat