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Latvia: Trade Statistics

Exporter Rank

67 / 138

Importer Rank

70 / 138

Trade Balance Rank

84 / 138

Total Trade [1]

Total Exports (2021) $19,458,821,916
Total Imports (2021) $23,085,527,945
Trade Balance (2021) ($3,626,706,029)
Exports of goods and services (% of GDP) (2022) [2] 70.34%
Imports of goods and services (% of GDP) (2022) [2] 76.16%

Trade Partners [1]

Export Partners

Top 10 Export Countries

Country Export USD$
Lithuania $3,456,409,326
Estonia $2,067,042,658
United Kingdom $1,490,889,769
Germany $1,416,188,330
Russia $1,415,920,834
Sweden $1,070,856,380
Denmark $840,926,935
Poland $815,641,905
Netherlands $634,734,201
Finland $493,929,995

Import Partners

Top 10 Import Countries

Country Import USD$
Lithuania $3,975,194,245
Germany $2,430,928,438
Poland $2,214,623,337
Russia $2,095,726,178
Estonia $2,046,383,970
China $1,016,931,637
Netherlands $934,118,322
Finland $855,453,782
Italy $719,532,614
Canada $707,711,921

Traded Goods [1] (at the 2-digit HS Code level)

Top 10 Export Goods

HS Code Export USD$
(44) Wood $3,719,807,863
(85) Electrical Machinery $2,024,097,779
(27) Oil & Mineral Fuels $1,147,991,269
(84) Industrial Machinery $1,147,476,485
(72) Iron & Steel $905,829,718
(87) Motor Vehicles & Parts $835,240,066
(10) Cereals $718,027,760
(30) Pharmaceuticals $669,633,118
(73) Iron & Steel Articles $655,646,192
(22) Beverages $650,019,320

Top 10 Import Goods

HS Code Import USD$
(85) Electrical Machinery $2,473,801,346
(84) Industrial Machinery $2,180,541,793
(27) Oil & Mineral Fuels $2,145,231,843
(87) Motor Vehicles & Parts $1,614,174,255
(72) Iron & Steel $1,110,149,035
(44) Wood $1,108,024,720
(39) Plastics $1,014,174,953
(30) Pharmaceuticals $928,364,476
(88) Aircraft $788,278,826
(22) Beverages $597,124,101

Sources:

  1. UN Comtrade (2021) except where stated otherwise.
  2. The World Bank. Accessed: 10/8/2023
Latvia