Annual International Trade Statistics by Country (HS)
Publication date: 2024-01-28
Reporting period: 2002 - 2022
Timeseries: 194 million
Source:TrendEconomy
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Latvia | Imports and Exports | World | ALL COMMODITIES | Value (US$) and Value Growth, YoY (%) | 2012 - 2023

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2012
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2023
TOTAL. ALL COMMODITIESLatviaWorldExportsValue (US$)12,685,521,524.0013,324,704,654.0013,782,781,935.3911,649,939,894.5611,607,295,065.3113,189,947,231.0415,064,999,864.0714,447,101,696.6015,196,527,243.7719,458,821,916.2722,494,202,398.6020,329,492,937.70
Value Growth, YoY (%)5.815.033.43-15.47-0.3613.6314.21-4.105.1828.0415.59-9.62
ImportsValue (US$)16,082,387,658.0016,778,948,555.0017,127,924,107.8114,095,807,354.8413,736,506,776.6316,053,149,440.4618,612,965,523.0217,767,574,788.6217,315,082,294.2623,085,527,945.0327,901,013,028.9024,978,867,122.64
Value Growth, YoY (%)4.224.332.07-17.70-2.5416.8615.94-4.54-2.5433.3220.85-10.47

The value of merchandise exports from Latvia totalled $ 20 billion in 2023. Overall commodity exports from Latvia decreased by 9.62% compared to 2022. Merchandise exports decreased by $ 2.16 billion (the value of merchandise exports from Latvia amounted to $22 billion in 2022)

Latvia's exports 2023 by country

Top export destinations of commodities from Latvia in 2023:

  • Lithuania with a share of 18.1% (3.67 billion US$)
  • Estonia with a share of 11.6% (2.35 billion US$)
  • Germany with a share of 6.99% (1.42 billion US$)
  • Russia with a share of 5.96% (1.21 billion US$)
  • Sweden with a share of 5.93% (1.2 billion US$)
  • United Kingdom with a share of 4.77% (970 million US$)
  • Denmark with a share of 4.19% (851 million US$)
  • Poland with a share of 3.92% (796 million US$)
  • Finland with a share of 3.66% (744 million US$)
  • Netherlands with a share of 2.99% (608 million US$)

Exports structure from Latvia in 2023 represented by the following main commodity groups:

  • 15.1% (3.07 billion US$): 44 - Wood and articles of wood; wood charcoal
  • 10.7% (2.18 billion US$): 85 - Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles
  • 7.38% (1.5 billion US$): 27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
  • 5.36% (1.09 billion US$): 84 - Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof
  • 5.11% (1.04 billion US$): 87 - Vehicles other than railway or tramway rolling stock, and parts and accessories thereof
  • 4.24% (862 million US$): 22 - Beverages, spirits and vinegar
  • 4.21% (856 million US$): 10 - Cereals
  • 4.12% (839 million US$): 30 - Pharmaceutical products
  • 3.44% (700 million US$): 40 - Rubber and articles thereof
  • 3.15% (640 million US$): 73 - Articles of iron or steel

What did Latvia export in 2023?

Latvia's Top Exports in 2023:

  • 4.21% ($857 million): 8517 - Electrical apparatus for line telephony or line telegraphy, including line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones
  • 3.64% ($741 million): 4407 - Wood sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or end-jointed, of a thickness exceeding 6 mm
  • 3.14% ($638 million): 4401 - Fuel wood, in logs, in billets, in twigs, in faggots or in similar forms; wood in chips or particles; sawdust and wood waste and scrap, whether or not agglomerated in logs, briquettes, pellets or similar forms
  • 3.05% ($620 million): 1001 - Wheat and meslin.
  • 2.8% ($570 million): 3004 - Medicaments (excluding goods of heading 30.02, 30.05 or 30.06) consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses (including those in the form of transdermal administration systems) or in forms or packings for retail sale
  • 2.79% ($568 million): 2711 - Petroleum gases and other gaseous hydrocarbons
  • 2.35% ($479 million): 2208 - Undenatured ethyl alcohol of an alcoholic strength by volume of less than 80 % vol; spirits, liqueurs and other spirituous beverages
  • 1.83% ($373 million): 4412 - Plywood, veneered panels and similar laminated wood
  • 1.7% ($347 million): 8703 - Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars

The value of merchandise imports to Latvia totalled $ 24 billion in 2023. Overall commodity imports to Latvia decreased by 10.4% compared to 2022. Merchandise imports decreased by $ 2.92 billion (the value of merchandise imports to Latvia was equal to $27 billion in 2022)

Latvia's imports 2023 by country

Top trading partners (import sources) of Latvia in 2023:

  • Lithuania with a share of 21% (5.29 billion US$)
  • Germany with a share of 11.1% (2.77 billion US$)
  • Poland with a share of 10.5% (2.64 billion US$)
  • Estonia with a share of 8.52% (2.13 billion US$)
  • Netherlands with a share of 4.33% (1.08 billion US$)
  • Finland with a share of 4.01% (1 billion US$)
  • China with a share of 3.74% (935 million US$)
  • Italy with a share of 3.64% (910 million US$)
  • Sweden with a share of 3.15% (787 million US$)
  • Canada with a share of 2.78% (694 million US$)

Imports structure to Latvia in 2023 represented by the following main commodity groups:

  • 11% (2.75 billion US$): 27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
  • 10.6% (2.66 billion US$): 85 - Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles
  • 9.01% (2.25 billion US$): 87 - Vehicles other than railway or tramway rolling stock, and parts and accessories thereof
  • 8.62% (2.15 billion US$): 84 - Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof
  • 4.91% (1.22 billion US$): 30 - Pharmaceutical products
  • 3.54% (885 million US$): 88 - Aircraft, spacecraft, and parts thereof
  • 3.53% (881 million US$): 39 - Plastics and articles thereof
  • 3.29% (823 million US$): 22 - Beverages, spirits and vinegar
  • 2.73% (682 million US$): 40 - Rubber and articles thereof
  • 2.43% (608 million US$): 44 - Wood and articles of wood; wood charcoal

What did Latvia import in 2023?

Latvia's Top Imports in 2023:

  • 5.11% ($1.27 billion): 2710 - Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils
  • 4.09% ($1.02 billion): 8703 - Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars
  • 3.9% ($975 million): 2711 - Petroleum gases and other gaseous hydrocarbons
  • 3.15% ($786 million): 3004 - Medicaments (excluding goods of heading 30.02, 30.05 or 30.06) consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses (including those in the form of transdermal administration systems) or in forms or packings for retail sale
  • 2.83% ($707 million): 8802 - Other aircraft (for example, helicopters, aeroplanes); spacecraft (including satellites) and suborbital and spacecraft launch vehicles
  • 2.8% ($700 million): 8517 - Electrical apparatus for line telephony or line telegraphy, including line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones
  • 1.68% ($420 million): 2716 - Electrical energy. (optional heading)
  • 1.35% ($338 million): 2208 - Undenatured ethyl alcohol of an alcoholic strength by volume of less than 80 % vol; spirits, liqueurs and other spirituous beverages
  • 1.33% ($333 million): 8708 - Parts and accessories of the motor vehicles of headings 87.01 to 87.05

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Latvia | Imports and Exports | World | ALL COMMODITIES | Value (US$) and Value Growth, YoY (%) | 2012 - 2023