The trade gap in Latvia widened to EUR 361.7 million in May 2019 from EUR 220.3 million in the same month of the previous year. Exports fell 2.6% year-on-year to EUR 1,068.3 million, mostly due to lower sales of machinery & mechanical appliances and electrical equipment (-47.3%); wood & articles of wood (-7.3%); iron & steel (-17.5%); beverages, spirits & vinegar (-9.2%); and mineral fuels, mineral oils & products of their distillation (-0.1%). Main export partners were: Lithuania (17.6% of total exports), Estonia (11.9%), Germany (7.4 percent) and Sweden (7.3%). Imports rose 8.6% to EUR 1,430 million, driven by higher purchases of vehicles (5.8%); mineral fuels, mineral oils & products of their distillation (21.8%); aircraft, spacecraft and parts thereof (46.4%); pharmaceutical products (11.2%); and plastics & articles thereof (7.1%). The most important import partners were: Lithuania (16.7% of total imports), Germany (10.9%), Poland (8.7%) and Estonia (8.3%). Balance of Trade in Latvia averaged -169.16 EUR Million from 1993 until 2019, reaching an all time high of 40.10 EUR Million in February of 1993 and a record low of -557.20 EUR Million in July of 2007.

Balance of Trade in Latvia is expected to be -330.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Latvia to stand at -300.00 in 12 months time. In the long-term, the Latvia Balance of Trade is projected to trend around -230.00 EUR Million in 2020, according to our econometric models.

Latvia Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-04-09 10:00 AM Balance of Trade Feb €-140.5M €-144.2M €-175M
2019-05-10 10:00 AM Balance of Trade Mar €-273.3M €-140.5M € -220M
2019-06-11 10:00 AM Balance of Trade Apr €-290.6M €-271.1M € -180M
2019-07-10 10:00 AM Balance of Trade May €-361.7M €-290.6M € -210M
2019-08-09 10:00 AM Balance of Trade Jun €-361.7M € -310M
2019-09-10 10:00 AM Balance of Trade Jul € -350M
2019-10-10 10:00 AM Balance of Trade Aug € -330M


Latvia Trade Last Previous Highest Lowest Unit
Balance of Trade -361.70 -290.60 40.10 -557.20 EUR Million [+]
Current Account -13.00 -115.00 343.00 -546.00 EUR Million [+]
Current Account to GDP -1.00 0.70 11.90 -20.70 percent [+]
Imports 1429.97 1347.00 1544.20 52.50 EUR Million [+]
Exports 1068.28 1056.40 1214.20 53.10 EUR Million [+]
External Debt 36107.00 35732.00 37824.00 825.57 EUR Million [+]
Capital Flows 555000.00 -310000.00 1032590.00 -1383970.00 EUR THO [+]
Gold Reserves 6.60 6.60 7.75 6.60 Tonnes [+]
Terrorism Index 0.46 0.00 0.66 0.00 [+]
Foreign Direct Investment 1.00 79.00 314.00 -324.00 EUR Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Latvia Balance of Trade

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. This page provides - Latvia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia Balance of Trade - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-361.70 -290.60 40.10 -557.20 1993 - 2019 EUR Million Monthly




Country Last Previous
Argentina 1373.00 May/19
Australia 5745.00 May/19
Brazil 5020.00 Jun/19
Canada 762.30 May/19
China 509.76 Jun/19
Euro Area 23033.60 May/19
France -3278.00 May/19
Germany 20600.00 May/19
India -15280.00 Jun/19
Indonesia 196.00 Jun/19
Italy 5347.00 May/19
Japan 589.46 Jun/19
Mexico 1030.71 May/19
Netherlands 5579.00 May/19
Russia 11823.00 May/19
Saudi Arabia 131636.00 Mar/19
Singapore 2447.29 Jun/19
South Africa 1737.21 May/19
South Korea 4168.00 Jun/19
Spain -2110200.00 May/19
Switzerland 3251.00 Jun/19
Turkey -1837.83 May/19
United Kingdom -2324.00 May/19
United States -55520.00 May/19


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