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Latvia Trade Summary

2021

Latvia exports, imports, tariff by year.

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 2021

Overall Exports and Imports for Latvia 2021

Exports and imports of Latvia in 2021 are below, along with number of countries and products

  • The total value of exports (FoB) was 19,459 million.
  • The total value of imports (CIF) was 23,086 million.
  • At the HS6 digit level, 3,716 products were exported to 193 countries and 4,255 products were imported from 165 countries.

Latvia top 5 Export and Import partners 2021

Top five countries to which Latvia exported in 2021 are below, along with the percent of total exports that went to that country:

  1. Latvia exports to Lithuania worth US$ 3,456 million, with a partner share of 17.76 percent.
  2. Latvia exports to Estonia worth US$ 2,067 million, with a partner share of 10.62 percent.
  3. Latvia exports to United Kingdom worth US$ 1,491 million, with a partner share of 7.66 percent.
  4. Latvia exports to Germany worth US$ 1,416 million, with a partner share of 7.28 percent.
  5. Latvia exports to Russian Federation worth US$ 1,416 million, with a partner share of 7.28 percent.

Top five countries from which Latvia imported goods in 2021 are below, along with percent of total imports that came from the country :

  1. Latvia imports from Lithuania worth US$ 3,975 million, with a partner share of 17.22 percent.
  2. Latvia imports from Germany worth US$ 2,431 million, with a partner share of 10.53 percent.
  3. Latvia imports from Poland worth US$ 2,215 million, with a partner share of 9.59 percent.
  4. Latvia imports from Russian Federation worth US$ 2,096 million, with a partner share of 9.08 percent.
  5. Latvia imports from Estonia worth US$ 2,046 million, with a partner share of 8.86 percent.

Latvia Top 5 Productsexports imports at HS 6 digit level 2021

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

  1. Latvia exported Coniferous wood sawn or chipped lengthwise, sli , worth 1,281,055.61 (US$ Thousands).
  2. Latvia exported Transmission apparatus, for radioteleph incorpo , worth 831,368.41 (US$ Thousands).
  3. Latvia exported Spelt, common wheat and meslin , worth 606,034.04 (US$ Thousands).
  4. Latvia exported Other medicaments of mixed or unmixed products, , worth 544,591.84 (US$ Thousands).
  5. Latvia exported Sawdust, wood waste and scrap (incl. agglomerat , worth 426,650.43 (US$ Thousands).

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

  1. Latvia imported Petroleum oils, etc, (excl. crude); preparation , worth 947,454.37 (US$ Thousands).
  2. Latvia imported Transmission apparatus, for radioteleph incorpo , worth 691,529.35 (US$ Thousands).
  3. Latvia imported Aircraft nes of an unladen weight exceeding 15, , worth 681,382.35 (US$ Thousands).
  4. Latvia imported Other medicaments of mixed or unmixed products, , worth 623,410.81 (US$ Thousands).
  5. Latvia imported Natural gas in gaseous state , worth 510,225.79 (US$ Thousands).

Exports and Imports of Product Groups 2021

Exports and imports of products by stages of processing in 2021 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2021

Tariffs imposed by Latvia in 2021 are below

  • The maximum rate of tariff in percentage on any product was 193.43 percent.
  • The simple average tariff across all products was 2.36 percent.
  • The trade weighted average tariff was 1.28 .
  • The total duty free imports in thousands of US dollars were 4,074,522.11 and duty free tariff line items share was 56.49 percent.

Development Indicators 2021

Key Development Indicators of Latvia in 2021 are below

  • Latvia GDP in current US dollar was 39,725 million.
  • GNI per capita, Atlas method (current US$) was 19,830.00 .
  • Latvia Trade balance: as % of GDP was -3.44.
  • Trade balance in current US$ was -1,365.00 million.
  • Trade as percentage of GDP was 130.79 .
  • Trade in services as percentage of GDP was 26.58 .

Trade Indicators 2021

Trade Indicators for Latvia in 2021 are below

  • Hirschman Herfindahl market concentration index was 0.07.
  • Index of export market penetration was 6.98.
  • World Growth in percentage was 12.50 and Latvia Country Growth was 10.83 .