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Latvia Trade Summary

2022

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 2022

Overall Exports and Imports for Latvia 2022

Exports and imports of Latvia in 2022 are below, along with number of countries and products

  • The total value of exports (FoB) was 22,494 million.
  • The total value of imports (CIF) was 27,901 million.
  • At the HS6 digit level, 3,738 products were exported to 197 countries and 4,208 products were imported from 167 countries.

Latvia top 5 Export and Import partners 2022

Top five countries to which Latvia exported in 2022 are below, along with the percent of total exports that went to that country:

  1. Latvia exports to Lithuania worth US$ 4,096 million, with a partner share of 18.21 percent.
  2. Latvia exports to Estonia worth US$ 2,635 million, with a partner share of 11.72 percent.
  3. Latvia exports to Germany worth US$ 1,509 million, with a partner share of 6.71 percent.
  4. Latvia exports to Russian Federation worth US$ 1,261 million, with a partner share of 5.61 percent.
  5. Latvia exports to Sweden worth US$ 1,255 million, with a partner share of 5.58 percent.

Top five countries from which Latvia imported goods in 2022 are below, along with percent of total imports that came from the country :

  1. Latvia imports from Lithuania worth US$ 6,793 million, with a partner share of 24.35 percent.
  2. Latvia imports from Estonia worth US$ 2,810 million, with a partner share of 10.07 percent.
  3. Latvia imports from Germany worth US$ 2,673 million, with a partner share of 9.58 percent.
  4. Latvia imports from Poland worth US$ 2,630 million, with a partner share of 9.43 percent.
  5. Latvia imports from Russian Federation worth US$ 1,928 million, with a partner share of 6.91 percent.

Latvia Top 5 Productsexports imports at HS 6 digit level 2022

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

  1. Latvia exported Natural gas in gaseous state , worth 1,151,021.54 (US$ Thousands).
  2. Latvia exported Coniferous wood sawn or chipped lengthwise, sli , worth 1,102,022.23 (US$ Thousands).
  3. Latvia exported Spelt, common wheat and meslin , worth 950,788.14 (US$ Thousands).
  4. Latvia exported Transmission apparatus, for radioteleph incorpo , worth 800,827.09 (US$ Thousands).
  5. Latvia exported Electrical energy , worth 710,158.68 (US$ Thousands).

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

  1. Latvia imported Natural gas in gaseous state , worth 2,526,818.07 (US$ Thousands).
  2. Latvia imported Petroleum oils, etc, (excl. crude); preparation , worth 1,599,553.58 (US$ Thousands).
  3. Latvia imported Electrical energy , worth 1,349,480.20 (US$ Thousands).
  4. Latvia imported Transmission apparatus, for radioteleph incorpo , worth 712,310.18 (US$ Thousands).
  5. Latvia imported Aircraft nes of an unladen weight exceeding 15, , worth 662,876.16 (US$ Thousands).

Exports and Imports of Product Groups 2022

Exports and imports of products by stages of processing in 2022 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2022

Tariffs imposed by Latvia in 2022 are below

  • The maximum rate of tariff in percentage on any product was 134.47 percent.
  • The simple average tariff across all products was 2.21 percent.
  • The trade weighted average tariff was 1.37 .
  • The total duty free imports in thousands of US dollars were 3,725,170.06 and duty free tariff line items share was 62.80 percent.

Development Indicators 2022

Key Development Indicators of Latvia in 2022 are below

  • Latvia GDP in current US dollar was 41,154 million.
  • GNI per capita, Atlas method (current US$) was 21,500.00 .
  • Latvia Trade balance: as % of GDP was -5.82.
  • Trade balance in current US$ was -2,393.00 million.
  • Trade as percentage of GDP was 146.50 .
  • Trade in services as percentage of GDP was 30.94 .

Trade Indicators 2022

Trade Indicators for Latvia in 2022 are below

  • Hirschman Herfindahl market concentration index was 0.07.
  • Index of export market penetration was 6.80.
  • World Growth in percentage was 5.18 and Latvia Country Growth was 7.15 .