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Latvia: Trade Statistics

Exporter Rank

72 / 146

Importer Rank

78 / 145

Trade Balance Rank

85 / 145

Total Trade [1]

Total Exports (2016) $11,433,078,234
Total Imports (2016) $13,595,786,240
Trade Balance (2016) ($2,162,708,006)
Exports of goods and services (% of GDP) (2017) [2] 60.47%
Imports of goods and services (% of GDP) (2017) [2] 61.8%

Trade Partners [1]

Export Partners

Top 10 Export Countries

Country Export USD$
Lithuania $2,087,541,977
Estonia $1,384,978,585
Russia $871,417,779
Germany $826,900,114
Sweden $688,213,968
United Kingdom $659,991,380
Poland $597,185,005
Denmark $534,644,927
Netherlands $329,134,657
Norway $262,576,171

Import Partners

Top 10 Import Countries

Country Import USD$
Lithuania $2,383,526,345
Germany $1,614,068,132
Poland $1,462,275,583
Estonia $1,081,758,175
Russia $1,050,898,261
Finland $615,895,258
Netherlands $552,793,489
Sweden $484,456,661
China $444,089,200
Italy $424,985,794

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

Top 10 Export Goods

HS Code Export USD$
(44) Wood $1,984,948,163
(85) Electrical Machinery $1,301,604,321
(84) Industrial Machinery $702,540,730
(87) Motor Vehicles & Parts $627,951,767
(27) Oil & Mineral Fuels $529,744,197
(30) Pharmaceuticals $449,286,595
(10) Cereals $442,323,991
(22) Beverages $436,825,521
(73) Iron & Steel Articles $374,275,769
(72) Iron & Steel $338,234,955

Top 10 Import Goods

HS Code Import USD$
(85) Electrical Machinery $1,573,659,997
(84) Industrial Machinery $1,307,800,688
(87) Motor Vehicles & Parts $1,257,670,227
(27) Oil & Mineral Fuels $1,175,107,801
(30) Pharmaceuticals $634,936,559
(39) Plastics $566,935,297
(72) Iron & Steel $451,786,973
(44) Wood $451,778,885
(22) Beverages $404,454,082
(48) Paper $294,964,986

Sources:

  1. UN Comtrade (2016) except where stated otherwise.
  2. The World Bank. Accessed: 9/22/2018
Latvia