Latvia Balance of Trade

Last Release

Aug 31, 2025

Actual

-230

Units In

EUR Million

-514.2

Frequency

Monthly

Next Release

Nov 11, 2025

Time to Release

30 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
40.13 Feb 1993	-650.57 Dec 2022	-193.69 EUR Million	1993-2025	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 recorded a trade deficit of EUR 230.0 million in August 2025, narrowing from EUR 296.0 million a year earlier. Imports declined 1.6% year-on-year to EUR 1,769.1 million, led by lower purchases of mineral products (-17.5%), products of the chemical and allied industries (-7.7%), and prepared foodstuffs (-4.1%). By region, imports fell from CIS countries (-69.2%) and EU (-0.6%), while purchases rose from other countries (+4.6%). Notably, imports from the US surged 4.3 times, driven by machinery and mechanical appliances, and electrical equipment and mineral products. Exports rose 2.5% to EUR 1,539.1 million, supported by higher shipments of mineral products (+20.8%), vehicles and associated transport equipment (+22.6%), and live animals and animal products (+21.0%). By destination, exports increased to EU countries (+3.7%) and other countries (+0.04%), but declined to CIS (-0.3%). Exports to the US dropped 8.7%, mainly due to a reduction in chemical and allied industries products.