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Latvia: Trade Statistics

Exporter Rank

67 / 119

Importer Rank

66 / 119

Trade Balance Rank

75 / 119

Total Trade [1]

Total Exports (2018) $14,631,519,228
Total Imports (2018) $18,310,069,441
Trade Balance (2018) ($3,678,550,213)
Exports of goods and services (% of GDP) (2018) [2] 61.3%
Imports of goods and services (% of GDP) (2018) [2] 61.49%

Trade Partners [1]

Export Partners

Top 10 Export Countries

Country Export USD$
Lithuania $2,344,024,691
Estonia $1,682,257,495
Russia $1,338,000,142
Sweden $1,063,063,474
Germany $1,017,351,195
United Kingdom $832,325,438
Denmark $664,449,890
Poland $598,108,358
United States $551,573,567
Finland $354,426,383

Import Partners

Top 10 Import Countries

Country Import USD$
Lithuania $3,201,471,121
Germany $1,936,134,723
Poland $1,631,133,217
Russia $1,496,120,438
Estonia $1,401,092,128
Canada $872,900,359
Finland $804,078,123
Netherlands $639,641,440
China $580,831,250
Sweden $561,442,485

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

Top 10 Export Goods

HS Code Export USD$
(44) Wood $2,659,563,882
(85) Electrical Machinery $1,486,734,000
(84) Industrial Machinery $1,177,597,971
(87) Motor Vehicles & Parts $835,064,316
(22) Beverages $743,328,111
(72) Iron & Steel $599,212,544
(27) Oil & Mineral Fuels $576,762,191
(30) Pharmaceuticals $519,884,191
(73) Iron & Steel Articles $487,260,713
(94) Furniture $422,744,828

Top 10 Import Goods

HS Code Import USD$
(84) Industrial Machinery $2,133,560,789
(85) Electrical Machinery $1,864,928,308
(27) Oil & Mineral Fuels $1,662,138,155
(87) Motor Vehicles & Parts $1,549,155,948
(72) Iron & Steel $790,350,440
(39) Plastics $737,700,040
(30) Pharmaceuticals $710,312,057
(22) Beverages $701,070,681
(44) Wood $692,655,264
(88) Aircraft $536,996,473

Sources:

  1. UN Comtrade (2018) except where stated otherwise.
  2. The World Bank. Accessed: 6/3/2020
Latvia