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Latvia's trade turnover took a 2.1% hit in 2020

In 2020, the foreign trade turnover of Latvia at current prices reached EUR 28.27 billion – EUR 612.5 million or 2.1 % less than in 2019, according to provisional data released February 9 by the Central Statistical Bureau (CSB).

The exports value constituted EUR 13.19 billion (a growth of EUR 224 million or 1.7 %), whereas the imports value comprised EUR 15.08 billion (a drop of EUR 836.6 million or 5.3 %).

In December 2020 the foreign trade turnover of Latvia amounted to EUR 2.56 billion, which at current prices was 5.8 % larger than a year earlier, of which the exports value of goods was 12.5 % higher, but imports value of goods – 0.9 % higher. 

In December Latvia exported goods in the amount of EUR 1.15 billion, but imported – in the amount of EUR 1.41 billion. Compared to December 2019, foreign trade balance has improved slightly as exports in total foreign trade amount increased from 42.2 % to 44.9 %.

In December, the main export partners of Latvia in trade with EU countries were Lithuania (15.7 % of total exports), Estonia (11.8 %), Germany (5.9 %) and Denmark (4.8 %), whereas the main import partners were Lithuania (15.6 % of total imports), Germany (9.6 %), Poland (8.8 %) and Estonia (7.8 %). Russia was the main export partner in trade with third countries; its share in total Latvian exports in December accounted for 9.4 %, whereas the main import partner was Canada –11.9 % of total imports.

More information on the foreign trade of Latvia by month and quarter, as well as by country group and commodity group is available in the “Foreign trade” section of the official statistics portal and export and import tool.

 

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