Imports to Latvia rose 8.6 percent year-on-year to EUR 1,430 million in May 2019, 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%). Imports in Latvia averaged 611.81 EUR Million from 1993 until 2019, reaching an all time high of 1544.20 EUR Million in October of 2018 and a record low of 52.50 EUR Million in September of 1993.
Imports in Latvia is expected to be 1420.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Latvia to stand at 1520.00 in 12 months time. In the long-term, the Latvia Imports is projected to trend around 1590.00 EUR Million in 2020, according to our econometric models.