The exports value of goods was 15.1 % lower, but imports value of goods – 14.8 % lower. In May Latvia exported goods in the amount of EUR 1.51 billion, but imported – in the amount of EUR 2.02 billion.
Compared to May 2022, foreign trade balance has slightly worsened as exports in total foreign trade amount decreased from 42.9 % to 42.8 %. It should be taken into account that the data on foreign trade in goods are reflected in actual prices and are calculated on the basis of the value of goods in euro and not their physical quantity.
During the five months of this year foreign trade turnover of Latvia at current prices reached EUR 17.93 billion – EUR 718.4 million or 3.9 % less than in the corresponding period of the previous year. The exports value constituted EUR 8.12 billion (a drop of EUR 281.2 million or 3.3 %), whereas the imports value comprised EUR 9.81 billion (a fall of EUR 437.2 million or 4.3 %).
The main exports partners in May were Lithuania (18.9 % of total exports), Estonia (11.9 %), Germany (7.2 %) and Sweden (6.5 %), whereas the main import partners were Lithuania (19.6 % of total imports), Germany (10.7 %), Poland (10 %) and Estonia (9.2 %).
In May 2023 foreign trade balance of Latvia was positive with 107 partner countries, as exports value of goods exceeded imports value of goods. It was negative in trade with 50 countries.