Latvia Balance of Trade

Last Release

Oct 31, 2024

Actual

-291.1

Units In

EUR Million

-264.2

Frequency

Monthly

Next Release

Jan 10, 2025

Time to Release

29 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
40.13 Feb 1993	-650.57 Dec 2022	-191.06 EUR Million	1993-2024	Central Statistical Bureau of Latvia

Latvia exports mainly wood and wood products, machinery and equipment, iron and steel, textiles and foodstuffs. Latvia's main export partners are Lithuania, Russia, Estonia, Germany and Sweden. Latvia imports machinery and equipment, chemicals, fuels and vehicles. Main import partners are Lithuania, Germany, Russia, Poland and Estonia.

Latest Updates

Latvia’s trade deficit widened to EUR 291.9 million in October 2024, from EUR 205.3 million in the corresponding month of the previous year. Exports increased by 1.3% year-on-year to EUR 1,718.9 million, driven by higher sales in mineral fuels, oils & its refined products (44.8%), wood & its products, charcoal (16.2%), and dairy products, bird eggs, honey (15.4%). Most exports were to Lithuania (17.5% of total exports), followed by Estonia (11.1%), Germany (6.4%) and the United Kingdom (5.5%). Meanwhile, imports rose faster at 5.8% to EUR 2,010.8 million, where purchases advanced for woods & its products, charcoal (27.4%), mineral fuels, oils & its refined products (21.2%), and plastics & their products (16.2%). The main import partners were Lithuania (20.9% of total imports), followed by Poland (11.3%), Germany (10.9%) and Estonia (9.6%).