Latvia exported EUR 16.49 billion worth of goods, EUR 3.19 billion or 24 % more than in 2020, and imported EUR 19.43 billion, EUR 4.27 billion or 28.2 % more. These are the highest export and import values yet recorded, topping even the pre-pandemic figures.
Foreign trade turnover of Latvia at current prices reached EUR 35.92 billion in 2021 – EUR 7.46 billion or 26.2 % more than in 2020.
Last year, main commodities in exports of Latvia were wood, wood products and charcoal; electrical machinery and equipment; mineral products. Wood, wood products and charcoal were mostly exported to the United Kingdom (31 %), Germany (7.3 %) and Sweden (7.2 %), electrical machinery and equipment to Lithuania (26.5 %), Estonia (12.2%) and the Russian Federation (8.1 %), mineral products to Lithuania (43.7 %), Estonia (12.7 %) and Finland (7.8 %).
In 2021, goods were exported from Latvia to 195 countries worldwide. The five largest export partners were Lithuania, Estonia, the United Kingdom, Germany and the Russian Federation. Their share comprised 50.8 % of the total exports value. The main exports to Lithuania were machinery, mechanical appliances and electrical equipment, to Estonia, the Russian Federation and Germany - agricultural and food products , and to the United Kingdom - wood and wood products.
Latvia imported goods from 167 countries worldwide. The five largest import partners were Lithuania, Germany, Poland, the Russian Federation and Estonia. Their share comprised 55.2 % of the total imports value. The main imports from Lithuania were agricultural and food products, from Germany and Poland - machinery, mechanical appliances and electrical equipment, and from the Russian Federation and Estonia - mineral products.
More information on Latvia's foreign trade in 2021 and the 4th quarter is available in this publication (only in Latvian).
