Foreign trade , Good for Business, Latvia, Statistics

In May 2018, Latvian exports rose 6.2% from April 2018 and 8.5% against May 2017 to EUR 1.047 bln. Imports increased 11.6% from April 2018 and rose 10.4% against May 2017 to EUR 1.277 bln.

Compared to May 2017, Latvia's foreign trade balance worsened slightly as the share of exports decreased from 45.5% to 45%.

In May 2018, Latvian timber, timber products and charcoal were exported for EUR 197.824 mln or 18.9% of total exports, growing 6.5% from April 2018 and 17.4% from May 2017. Exports of electric appliances and equipment accounted for EUR 97.476 mln or 9.3% of total exports, up 10.7% month-on-month and down 13.7% year-on-year.

Machinery and mechanical appliances prevailed in Latvian imports in May 2018 at EUR 192.426 mln or 15.1% of total imports, soaring 51.7% from April 2018 and surging 73.6% from May 2017. Imports of electric appliances and equipment made up EUR 118.963 mln or 9.3% of total imports, up 0.4% from April 2018 but down 7% year-on-year.

In May 2018, Latvia's main export partners in the EU included Lithuania, which received 16.4% of Latvia's total exports, Estonia (11.8%), Sweden (7%) and Germany (6.6%), while the key import partners were Lithuania (18.1% of total imports), Germany (10.6%), Poland (8.7%) and Estonia (8.2%).

Russia was Latvia's main partner in trade with third countries as its share in total Latvian exports in May 2018 accounted for 9%, whereas in imports for 6.2%.

Foreign trade of Latvia in April 2018 by country group
(at current prices)

Main commodities in exports of Latvia in May 2018