In March Latvia exported goods in the amount of EUR 1.52 billion, but imported – in the amount of EUR 1.78 billion.
Compared to March 2023, the foreign trade balance has worsened as exports in total foreign trade amount decreased from 46.6 % to 46 %. Please note that the statistics for foreign trade in goods is shown in actual prices and calculated based on the value of the goods in euro, not the physical amount or quantity.
During the first quarter of this year foreign trade turnover of Latvia at current prices reached EUR 9.82 billion – EUR 1.16 billion or 10.5 % less than in the corresponding period of 2023. The total value of exports was EUR 4.68 billion (down by EUR 457.3 million or 8.9 %) and of imports EUR 5.14 billion (down by EUR 697.9 million or 12 %).
Calendar and seasonally adjusted data show that, compared to March 2023, in March 2024 the exports value at current prices reduced by 12 %, but the imports value – by 10.2 %. While over the month (in March 2024 compared to February 2024) value of exports decreased by 0.6 % and of imports by 5.8 %.
The main exports partners in March were Lithuania (18.2 % of total exports), Estonia (12.8 %), Germany (6.9 %) and Sweden (6.3 %). The main import partners were Lithuania (19.6 % of total imports), Poland (11.6 %), Germany (11.2 %) and Estonia (7 %).
In March 2024 foreign trade balance of Latvia was positive with 116 partner countries, as exports value of goods exceeded imports value of goods, and deficit trade balance with 52 countries.
