The export value of goods was 3.9 % higher, but the import value of goods was 11.6 % higher, resulting in a widening trade gap as exports in total foreign trade amount decreased from 44 % to 42.3 %.
In 2019 as a whole, the foreign trade turnover of Latvia at current prices reached EUR 28.52 billion – EUR 14.7 million or 0.1 % less than in 2018. The exports value constituted EUR 12.8 billion (an increase of EUR 52 million or 0.4 %), whereas the imports value – EUR 15.73 billion (a drop of EUR 66.7 million or 0.4 %).
Calendar and seasonally adjusted data show that, compared to December 2018, in December 2019 the exports value at current prices went up by 2.7 % and the imports value by 7.4 %, whereas, compared to the previous month, the exports value went up by 4.1 % and the imports value – by 11.6 %.
In December, the main export partners of Latvia in trade with EU countries were Lithuania (16.4 % of total exports), Estonia (11.4 %), Germany (6.1 %) and Sweden (5.6 %), whereas the main import partners were Lithuania (16.2 % of total imports), Germany (10.9 %), Poland (8 %) and Estonia (7.1 %).
In exports Russia was the main partner in trade with third countries; its share in total Latvian exports in December accounted for 10.1 %, whereas Canada was the main partner in imports – 12.6 % of total imports, as a result of the deal which airBaltic has to buy planes from Airbus' Canadian operation (formerly Bombardier).
