Value of exported goods increased by 6.9 % in May

Central Statistical Bureau provisional data show that in May 2026 Latvia had foreign trade turnover of 3.86 billion euro, and at current prices it was 8.4 % higher than a year ago. Value of exported goods increased by 6.9 % and of imported goods by 9.6 %. The exported goods were valued at 1.74 billion euro and imported goods at 2.12 billion euro.

As exports in the total foreign trade decreased from 45.8 % in May 2025 to 45.2 % in May 2026, foreign trade balance worsened.

In the first five months of this year, Latvian foreign trade turnover at current prices reached 18.93 billion euro, which is 936.9 million euro or 5.2 % more than in the corresponding period of 2025. The exported goods were valued at 8.72 billion euro (up by 295.2 million euro or 3.5 %) and imported goods at 10.21 billion euro (up by 641.7 million euro or 6.7 %).

Please note that the statistics for foreign trade in goods is presented at actual prices and calculated based on the goods value in euro, not the physical amount or quantity.

Data for March, May, June, November 2025 and February 2026 have been revised.

Year on year, the value of exported goods rose by 9.8 % and the value of imported goods increased by 12 % (calendar and seasonally adjusted data at current prices). Month on month, the value of exports fell by 3.8 %, whereas the value of imports grew by 0.8 %.

Main changes in exports in May 2026, compared with May 2025:

• exports of mineral products up by 86.3 million euro or 59.8 %;
• exports of machinery and mechanical appliances, electrical equipment up by 28.9 million euro or 11.6 %;
• exports of vegetable products up by 23.1 million euro or 27.7 %;
• exports of prepared foodstuffs up by 13.1 million euro or 8.2 %;
• exports of base metals and articles of base metals down by 17.9 million euro or 15.6 %.

Main changes in imports in May 2026, compared with May 2025:

• imports of mineral products up by 112.6 million euro or 56 %;
• imports of machinery and mechanical appliances, electrical equipment up by 18.8 million euro or 4.7 %;
• imports of vehicles and associated transport equipment up by 17.5 million euro or 8.5 %;
• imports of base metals and articles of base metals up by 12.5 million euro or 10.1 %;
• imports of products of the chemical or allied industries down by 12.4 million euro or 5.3 %.

With a share of 18.9 % in the total exports, Lithuania remained the largest destination for goods exported from Latvia in May. Estonia followed with 10.6 %, Germany with 6.8 %, and Poland with 5 %. Lithuania was also the leading trading partner for imports, with a share of 22.5 %. Germany followed with 11.7 %, Estonia with 10 %, and Poland with 9.9 %.

Exports to the United States increased by 1.3 % year on year and was valued at 59.9 million euro. The upturn was driven primarily by increased exports of mineral products, which grew by 17.1 million euro. Imports from the United States rose by 44.9 % and was valued at 40.5 million euro. The rise was also mainly due to higher imports of mineral products (up by 18.4 million euro).

Year-on-year data show that the rise in the exports of mineral fuels, mineral oils and products of their distillation was boosted by growing export of aromatic hydrocarbon mixtures and electrical energy, which went up by 20.9 million euro and 19.7 million euro respectively. Meanwhile, downturn in the exports of pharmaceutical products was caused by reduced export of medicaments in measured doses or in forms or packings for retail sale, which fell by 12.5 million euro or 21.3 %.

Main exports by product, May 2026

(at current prices)

The year-on-year rise in imports of mineral fuels, mineral oils and products of their distillation was mainly due to higher import of natural gas in gaseous state and diesel, which went up by 33.7 million euro and 30.8 million euro respectively. Meanwhile, decline in imports of machinery and mechanical appliances was caused by the drop in imports of turbojets, which fell by 15.5 million euro.

Main imports by product, May 2026

(at current prices)

In May 2026, Latvia had surplus trade balance (meaning that value of exports was greater than the value of imports) with 121 countries and deficit trade balance with 48 countries.

The share of the European Union countries in the total value of exports increased by 2.3 percentage points year on year, while in the total value of imports it decreased by 2.2 percentage points. The share of CIS countries fell by 0.6 percentage points in exports and by 0.5 percentage points in imports.

Latvian foreign trade by country group, May 2026 

(at current prices)

Year-on-year comparison indicates a 4.8 % decrease in the exports to Russia, which was valued at 70.7 million euro. The downturn was mainly driven by the drop in export of products of the chemical and allied industries, which fell by 7.7 million euro or 51.1 %. Imports from Russia went down by 40.8 % and was valued at 4.4 million euro. Reduced supply of goods from Russia was mainly caused by lower import of products of animal or vegetable fats and oils, which went down by 1.8 million euro.

Exports to Ukraine fell by 23.4 % and was valued at 30.3 million euro. The main cause of this decline was reduced export of vehicles and associated transport equipment, which fell by 10.2 million euro or 91.1 %. Imports from Ukraine dropped by 13.1 % and was valued at 18.3 million euro. The downturn was driven primarily by reduced import of products of the chemical and allied industries, which went down by 2.7 million euro or 79.4 %.

Exports to Belarus increased by 30.2 % and was valued at 16.2 million euro. The rise was mainly affected by increased export of optical instruments and apparatus (including medical), which grew by 3.6 million euro. Imports from Belarus reduced by 59.2 % and was valued at 2.8 million euro. The main cause for this reduction was reduced import of products of animal or vegetable fats and oils, which went down by 3.7 million euro. Month on month, imports from Belarus grew by 52.9 %, mainly due to higher imports of products of the chemical and allied industries as well as prepared foodstuffs, which went up by 0.5 million euro each.

Latvian foreign trade with Belarus, Russia, and Ukraine, May 2026

(at current prices)

Additional statistics for Latvian foreign trade by month and quarter as well as by country group and product 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, Latvian exports include businesses exporting goods from Latvia to third countries through other EU countries where they have filled in export customs declarations for the export of goods to third countries. In May 2026, the value of these transactions made up 4.6 million euro, or 0.3 % of the total exports.

* As of 1 January 2026, Bulgaria has joined the euro area.

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

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