Latvia recorded a deficit of EUR 262.1 million in March 2024 compared to EUR 275.4 million deficit in the corresponding month of the previous year. Exports dropped by 18.8% to EUR 1,522 million, led by lower sales of wood, articles of wood & wood charcoal (-14.1%), electrical machinery & equipment (-20.6%) and mineral fuels, mineral oils & products of their distillation (-47%). Most exports were to Lithuania (18.2%) of total exports, followed by Estonia (12.8%) and Germany (6.9%). Moreover, imports also fell by -17% to EUR 1,784 million as purchases decreased for electrical machinery & equipment (-18.2%), vehicles & their parts (-32.4%) and machinery & mechanical appliances (-23%). The main importing partners for the period were Lithuania, accounting for (19.6%) of total imports, followed by Poland (11.6%) and Germany (11.2%). source: Central Statistical Bureau of Latvia

Latvia recorded a trade deficit of 262.10 EUR Million in March of 2024. Balance of Trade in Latvia averaged -187.39 EUR Million from 1993 until 2024, reaching an all time high of 40.13 EUR Million in February of 1993 and a record low of -641.97 EUR Million in December of 2022. This page provides - Latvia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on June of 2024.

Latvia recorded a trade deficit of 262.10 EUR Million in March of 2024. Balance of Trade in Latvia is expected to be -470.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Latvia Balance of Trade is projected to trend around -325.00 EUR Million in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-04-10 10:00 AM
Balance of Trade
Feb €-240.2M €40.1M €25.0M
2024-05-10 10:00 AM
Balance of Trade
Mar €-262.1M €-240.2M € -640M
2024-06-11 10:00 AM
Balance of Trade
Apr €-262.1M


Related Last Previous Unit Reference
Balance of Trade -262.10 -240.16 EUR Million Mar 2024
Exports 1522.60 1516.10 EUR Million Mar 2024
Imports 1784.71 1756.26 EUR Million Mar 2024
Tourist Arrivals 91885.00 69936.00 Mar 2024

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.
Actual Previous Highest Lowest Dates Unit Frequency
-262.10 -240.16 40.13 -641.97 1993 - 2024 EUR Million Monthly


News Stream
Latvia Trade Deficit Shrinks Slightly in March
Latvia recorded a deficit of EUR 262.1 million in March 2024 compared to EUR 275.4 million deficit in the corresponding month of the previous year. Exports dropped by 18.8% to EUR 1,522 million, led by lower sales of wood, articles of wood & wood charcoal (-14.1%), electrical machinery & equipment (-20.6%) and mineral fuels, mineral oils & products of their distillation (-47%). Most exports were to Lithuania (18.2%) of total exports, followed by Estonia (12.8%) and Germany (6.9%). Moreover, imports also fell by -17% to EUR 1,784 million as purchases decreased for electrical machinery & equipment (-18.2%), vehicles & their parts (-32.4%) and machinery & mechanical appliances (-23%). The main importing partners for the period were Lithuania, accounting for (19.6%) of total imports, followed by Poland (11.6%) and Germany (11.2%).
2024-05-10
Latvia Trade Deficit Widens in February
Latvia recorded a deficit of EUR 240.2 million in February 2024 compared to a EUR 198 million deficit in the corresponding month of the previous year. Exports dropped by 5.3% to EUR 1,516 million, led by a fall in sales of wood, articles of wood & wood charcoal (-7.9%), electrical machinery & equipment (-13.6%) and mineral fuels, mineral oils & their products (-31.1%). Most exports were to Lithuania (17%) of total exports, followed by Estonia (13%) and Germany (6.7%). Moreover, imports also fell by 2.4% to EUR 1,756 million, where purchases decreased for electrical machinery & equipment (-17.7%), vehicles other than railway (-16.6%) and machinery & mechanical appliances (-14.6%). The main importing partners for the period were Lithuania, accounting for (19%) of total imports, followed by Germany (12%) and Poland (11%).
2024-04-10
Latvia Records First Trade Surplus in 30 Years
Latvia recorded a EUR 40.1 million trade surplus in January 2024, the first surplus since at least 1993, compared to a EUR 229.6 million deficit in the corresponding month of the previous year. The reversal is mainly due to 15.3% drop in imports to EUR 1,598 million, the lowest since April 2021, led by falls in purchases of electrical machinery and equipment (-17.7%), mineral fuels & mineral oils (-55%), vehicles other than railway (-7.4%) and machinery and mechanical appliances (-19.5%). The main importing partners for the period were Lithuania which accounted for 20.9% of total imports, Germany (11.2%), Poland (10.9%) and Estonia (8.2%). On the other hand, exports dropped by 1.1% to EUR 1,638 million, with sales falling for wood (-5.7%), mineral fuels & mineral oils (-12.2%) and electrical machinery and equipment (-10.6%). Most exports went to Lithuania (19.2%) and Estonia (12.8%).
2024-03-11