Exports from Latvia fell 2.6 percent year-on-year to EUR 1,068.3 million in May 2019, 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%). Exports in Latvia averaged 442.65 EUR Million from 1993 until 2019, reaching an all time high of 1214.20 EUR Million in November of 2018 and a record low of 53.10 EUR Million in January of 1994.
Exports in Latvia is expected to be 1090.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Latvia to stand at 1220.00 in 12 months time. In the long-term, the Latvia Exports is projected to trend around 1360.00 EUR Million in 2020, according to our econometric models.