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Latvia Trade Summary

2020

Latvia exports, imports, tariff by year.
Latvia monthly trade data

Country and Region
Year
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Please note the exports, imports and tariff data are based on reported data and not gap filled. Please check the Data Availability for coverage.

Imports/Exports


Products

TRADE SUMMARY FOR LATVIA 2020

Overall Exports and Imports for Latvia 2020

Exports and imports of Latvia in 2020 are below, along with number of countries and products

  • The total value of exports (FoB) was 15,197 million.
  • The total value of imports (CIF) was 17,315 million.
  • At the HS6 digit level, 3,685 products were exported to 196 countries and 4,225 products were imported from 160 countries.

Latvia top 5 Export and Import partners 2020

Top five countries to which Latvia exported in 2020 are below, along with the percent of total exports that went to that country:

  1. Latvia exports to Lithuania worth US$ 2,478 million, with a partner share of 16.30 percent.
  2. Latvia exports to Estonia worth US$ 1,772 million, with a partner share of 11.66 percent.
  3. Latvia exports to Russian Federation worth US$ 1,293 million, with a partner share of 8.51 percent.
  4. Latvia exports to Germany worth US$ 1,099 million, with a partner share of 7.23 percent.
  5. Latvia exports to United Kingdom worth US$ 871 million, with a partner share of 5.73 percent.

Top five countries from which Latvia imported goods in 2020 are below, along with percent of total imports that came from the country :

  1. Latvia imports from Lithuania worth US$ 3,103 million, with a partner share of 17.92 percent.
  2. Latvia imports from Germany worth US$ 1,807 million, with a partner share of 10.43 percent.
  3. Latvia imports from Poland worth US$ 1,762 million, with a partner share of 10.18 percent.
  4. Latvia imports from Estonia worth US$ 1,477 million, with a partner share of 8.53 percent.
  5. Latvia imports from Russian Federation worth US$ 1,064 million, with a partner share of 6.14 percent.

Latvia Top 5 Productsexports imports at HS 6 digit level 2020

The top five exported HS 6 digit level products to world by Latvia along with trade value are:

  1. Latvia exported Transmission apparatus, for radioteleph incorpo , worth US$ 916,332.44 million.
  2. Latvia exported Coniferous wood sawn or chipped lengthwise, sli , worth US$ 688,577.41 million.
  3. Latvia exported Spelt, common wheat and meslin , worth US$ 640,362.30 million.
  4. Latvia exported Other medicaments of mixed or unmixed products, , worth US$ 414,448.58 million.
  5. Latvia exported Sawdust, wood waste and scrap (incl. agglomerat , worth US$ 382,172.15 million.

The top five imported HS 6 digit level products from world by Latvia along with trade value are

  1. Latvia imported Transmission apparatus, for radioteleph incorpo , worth US$ 740,114.18 million.
  2. Latvia imported Petroleum oils, etc, (excl. crude); preparation , worth US$ 672,191.95 million.
  3. Latvia imported Other medicaments of mixed or unmixed products, , worth US$ 551,332.12 million.
  4. Latvia imported Aircraft nes of an unladen weight exceeding 15, , worth US$ 276,342.72 million.
  5. Latvia imported Television receivers including video monitors a , worth US$ 253,004.38 million.

Exports and Imports of Product Groups 2020

Exports and imports of products by stages of processing in 2020 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2020

Tariffs imposed by Latvia in 2020 are below

  • The maximum rate of tariff in percentage on any product was 74.90 percent.
  • The simple average tariff across all products was 2.34 percent.
  • The trade weighted average tariff was 1.50 .
  • The total duty free imports in thousands of US dollars were 2,273,832.93 and duty free tariff line items share was 53.22 percent.

Development Indicators 2020

Key Development Indicators of Latvia in 2020 are below

  • Latvia GDP in current US dollar was 34,602 million.
  • GNI per capita, Atlas method (current US$) was 18,240.00 .
  • Latvia Trade balance: as % of GDP was 0.97.
  • Trade balance in current US$ was 335.00 million.
  • Trade as percentage of GDP was 118.83 .
  • Trade in services as percentage of GDP was 25.60 .

Trade Indicators 2020

Trade Indicators for Latvia in 2020 are below

  • Hirschman Herfindahl market concentration index was 0.06.
  • Index of export market penetration was 6.58.
  • World Growth in percentage was -3.75 and Latvia Country Growth was 1.85 .