In January foreign trade turnover of Latvia was 7.2 % larger than a year ago

Central Statistical Bureau (CSB) provisional data show that in January 2025 Latvia had foreign trade turnover of EUR 3.52 billion (at current prices 7.2 % more than a year ago), of which value of exported goods reduced by 2.1 % and of imported goods rose by 16.8 %. In January Latvia exported goods in the amount of EUR 1.64 billion, but imported – in the amount of EUR 1.88 billion.

Compared to January 2024, foreign trade balance has worsened as exports in total foreign trade amount decreased from 51 % to 46.6 %. Please note that the statistics for foreign trade in goods is shown in actual prices and calculated based on the goods value in euro, not the physical amount or quantity.

Data on April, May, June and October 2024 have been revised.

Calendar and seasonally adjusted data show that over the year (in January 2025 compared to January 2024) value of exports reduced by 3.5 % and of imports rose by 16.8 % whereas, compared to the previous month, the exports value went up by 4.1 %, but the imports value by 8.8 %.

Main changes in exports in January 2025, compared to January 2024:

• exports of mineral products up by EUR 33.1 million or 18 %;
• exports of vegetable products down by EUR 37.1 million or 23.6 %;
• export of vehicles and associated transport equipment down by EUR 20.8 million or 21.7 %;
• exports of base metals and articles of base metals down by EUR 14.5 million or 14.7 %;
• exports of products of the chemical and allied industries down by EUR 14.1 million or 10 %.

Main changes in imports in January 2025, compared to January 2024:

• imports of mineral products up by EUR 117.9 million or 80.6 %;
• imports of machinery and mechanical appliances; electrical equipment up by EUR 59.8 million or 18.7 %;
• imports of base metals and articles of base metals up by EUR 39.4 million or 37.3 %;
• imports of products of the chemical and allied industries up by EUR 32.3 million or 18.4 %;
• imports of prepared foodstuffs down by EUR 18.2 million or 10.4 %.

In January main exports partners were Lithuania (17.2 % of total exports), Estonia (11.2 %), Germany (6.6 %) and United Kingdom (5.3 %), whereas the main imports partners were Lithuania (19.7 % of total imports), Germany (10.5 %), Poland (10 %) and Finland (8.1 %).

The rise in exports of dairy produce, birds' eggs, natural honey in January 2025, compared to January 2024, was mostly facilitated by upturn in exports of cheese and curd by EUR 2.1 million or 17.4 %. In turn, fall in exports of cereals was mostly affected by drop in exports of wheat and meslin by EUR 22.6 million or 27 %.

Main commodities in Latvian exports in January 2025

(at current prices)

The rise in imports of mineral fuels, mineral oils and products of their distillation in January 2025, as compared to January 2024, was mostly facilitated by an increase in imports of motor gasoline by EUR 76.4 million. In turn, reduction in imports of optical instruments and apparatus was mostly influenced by drop in imports of medical, surgical, dental or veterinary instruments and apparatus by EUR 3.6 million or 36.6 %.

The rise in imports of iron and steel in January 2025, as compared to a month before, was mostly facilitated by purchase of cast iron for EUR 28.8 million.

Main commodities in imports of Latvia in January 2025

(at current prices)

In January 2025 foreign trade balance of Latvia was positive with 124 partner countries, as exports value of goods exceeded imports value of goods and deficit trade balance with 39 countries.

In January 2025, compared to January 2024, share of the European Union countries in total exports value increased by 0.8 percentage points, but in total imports value fell by 0.4 percentage points. Share of CIS countries reduced by 1.2 percentage points in exports and by 1.6 percentage points in imports.

Foreign trade of Latvia in January 2025 by country group

(at current prices)

In January 2025, compared to January 2024, exports to Russia decreased by 13.6 % and comprised EUR 77.1 million. The drop was mostly affected by downturn in exports of prepared foodstuffs by EUR 6.1 million or 16.5 %. During this period, imports from Russia fell by 30.7 % and comprised EUR 38.7 million. Decrease in imports was mainly affected by the drop in imports of vegetable products and mineral products by 96.4 % and 90.1 %, respectively.

Exports to Ukraine fell by 51 % and comprised EUR 15.9 million. The drop was mainly affected by the fall in exports of machinery and mechanical appliances by EUR 2.1 million or 37.8 %. Imports from Ukraine fell by 10.9 % and comprised EUR 21.8 million. The drop was mainly affected by the fall in imports of vegetable products of EUR 3 million or 84 %.

Exports to Belarus fell by 54.8 % and comprised EUR 4.4 million. The decrease was mainly affected by the drop in exports of plastics and articles thereof of EUR 2.2 million or 98.5 %. Imports from Belarus fell by 41.8 % and comprised EUR 8.5 million. Decrease in imports from Belarus was mostly affected by the drop in imports of prepared foodstuffs by EUR 2.7 million or 78.4 %.

Foreign trade of Latvia with Belarus, Russian Federation and Ukraine in January 2025

(at current prices)

More information on Latvian foreign trade by month and quarter as well as by country group and commodity group is available in the official statistics portal section Foreign trade as well as exports and imports data analysis tool.

Methodological information:

Starting with the data on 2024, exports of Latvia includes data on enterprises that exported goods from Latvia to third countries through other EU member states by filling in export customs declarations for the export of goods to third countries. In January 2025 the value of these transactions comprised EUR 6.3 million or 0.4 % of total exports.

Goods in foreign trade are counted taking into account the physical movement of goods. Although commercial import of electricity from the Russian Federation was banned, import and export of electricity is registered by using the transmission system operator’s monthly information on the transmission of the physical flow of electricity (expressed in MWh) across the border of Latvia, including of that transported through the country. Value of the physical flow of electricity in euro is calculated from the average monthly price specified by the electricity exchange Nord Pool AS.

Media requests:
Public Relations Section
E-mail: media@csp.gov.lv
Phone: +371 27880666

More information on the data:
Ieva Jansone
Foreign Trade Statistics Section
E-mail: Ieva.Jansone@csp.gov.lv
Phone: +371 67366721