Latvia’s foreign trade turnover reached 30.78 billion euros at actual prices during the first eight months of the year, marking an 8.6 percent increase compared to the same period in 2025, according to data reported by Diena. Export values climbed by 7.9 percent to 14.01 billion euros, while import values grew by 9.2 percent to reach 16.76 billion euros.
Trade Deficit Widens Amid Shifting Export Shares
Despite overall growth in turnover, the foreign trade balance worsened in August compared to the same month in the previous year. Exports as a share of total foreign trade volume dropped from 46.7 percent to 45.5 percent. When measured using calendar and seasonally adjusted data for August, export value at actual prices rose by 11.4 percent year-over-year, while import value increased by 14.5 percent. Compared to July, August exports grew by 0.7 percent and imports ticked up by 1 percent.
Mineral Products and Machinery Drive Growth
Mineral products fueled the largest shifts in August trade. Mineral product exports jumped by 80.8 million euros, or 61.5 percent, higher compared to August 2025, driven largely by a 41.6 million euro increase in exports of light petroleum oils and products. Mineral product imports surged by 96.1 million euros, or 50.2 percent, pushed primarily by a 48.6 million euro, or 72.8 percent, increase in diesel fuel imports.
Other sectors also posted gains. Machinery, mechanical appliances, and electrical equipment exports grew by 35.9 million euros, while imports in the same category rose by 37.5 million euros. Ordinary metals and their products saw exports increase by 27.1 million euros, whereas iron and steel product imports fell due to an 8 million euro drop in metal structures and parts.
Regional Partners and US Trade Adjustments
Lithuania remained Latvia’s dominant trading partner in August, absorbing 18.6 percent of total exports and supplying 22.8 percent of all imports. Estonia followed as the second-largest export destination at 10.9 percent, ahead of Germany at 6.6 percent and the Russian Federation at 5.6 percent. On the import side, Germany accounted for 11.4 percent, Poland for 10.7 percent, and Estonia for 9.4 percent.
Trade with the United States contracted sharply. Exports to the US fell by 8.4 percent to 29.1 million euros, pulled down by a 56.9 percent drop in optical devices and apparatus. Imports from the US plummeted by 44.5 percent to 19.5 million euros, driven by a 65.7 percent decline in machinery and electrical equipment.
Trade Shifts with Russia, Ukraine, and Belarus
Exports to the Russian Federation grew by 7.1 percent in August to 98.8 million euros, aided by a 6.1 million euro increase in chemical industry products. Conversely, imports from Russia dropped by 67.7 percent to 1.1 million euros, led by a steep reduction in chemical imports.
Trade with Ukraine showed mixed results. Exports to Ukraine rose by 4 percent to 27.6 million euros, boosted by higher machinery and electrical equipment shipments. Imports from Ukraine fell by 15.2 percent to 15.3 million euros, largely due to a decline in chemical industry products.
Exports to Belarus increased by 8.9 percent to 13.2 million euros, while imports from Belarus rose by 22.6 percent to 3.1 million euros, both movements heavily influenced by chemical sector products.
Frequently Asked Questions About Latvia Trade Data
-
How many countries maintained a positive trade balance with Latvia in August?
Latvia recorded a positive foreign trade balance with 123 countries in August, meaning the value of goods exported exceeded imports. Conversely, the balance was negative in trade with 47 countries. -
What specific export category suffered the largest drop among alcoholic beverages?
Sparkling wine exports drove the drop in the broader alcoholic and non-alcoholic beverage category, falling by 5.3 million euros or 53.7 percent. -
How did the European Union’s share of Latvia’s trade shift in August?
EU member states’ share of total export value increased by 0.4 percentage points compared to August 2025, while their share of total import value decreased by 1.4 percentage points.
Related reading