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Latvia: Trade Statistics

Exporter Rank

71 / 127

Importer Rank

71 / 127

Trade Balance Rank

84 / 127

Total Trade [1]

Total Exports (2019) $14,447,101,696
Total Imports (2019) $17,767,574,788
Trade Balance (2019) ($3,320,473,092)
Exports of goods and services (% of GDP) (2020) [2] 60.33%
Imports of goods and services (% of GDP) (2020) [2] 59.15%

Trade Partners [1]

Export Partners

Top 10 Export Countries

Country Export USD$
Lithuania $2,474,565,960
Estonia $1,689,465,574
Russia $1,323,923,277
Germany $1,045,696,669
Sweden $955,304,154
United Kingdom $813,140,088
Denmark $619,564,664
Poland $522,463,559
Netherlands $390,156,957
Finland $357,773,228

Import Partners

Top 10 Import Countries

Country Import USD$
Lithuania $3,133,363,891
Germany $1,941,954,506
Poland $1,673,042,578
Estonia $1,504,770,129
Russia $1,209,071,643
Finland $751,967,157
Netherlands $702,799,696
Canada $669,443,683
Sweden $586,068,897
Italy $584,772,833

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

Top 10 Export Goods

HS Code Export USD$
(44) Wood $2,500,020,338
(85) Electrical Machinery $1,526,804,324
(84) Industrial Machinery $855,323,396
(87) Motor Vehicles & Parts $783,392,205
(22) Beverages $743,488,931
(27) Oil & Mineral Fuels $655,885,355
(10) Cereals $580,838,600
(30) Pharmaceuticals $546,403,692
(73) Iron & Steel Articles $497,315,009
(72) Iron & Steel $469,152,185

Top 10 Import Goods

HS Code Import USD$
(85) Electrical Machinery $1,878,262,317
(84) Industrial Machinery $1,690,977,666
(27) Oil & Mineral Fuels $1,553,661,947
(87) Motor Vehicles & Parts $1,487,256,944
(88) Aircraft $761,770,811
(39) Plastics $715,837,564
(30) Pharmaceuticals $713,221,810
(22) Beverages $662,493,588
(44) Wood $642,809,828
(72) Iron & Steel $607,716,209

Sources:

  1. UN Comtrade (2019) except where stated otherwise.
  2. The World Bank. Accessed: 1/21/2022
Latvia