Value of exported goods increased by 10.9 % in August

Central Statistical Bureau provisional data show that in August 2026 Latvia had foreign trade turnover of 3.84 billion euro, and at current prices it was 13.7 % higher than a year ago. Value of exported goods increased by 10.9 %, and value of imported goods rose by 16.2 %. The exported goods were valued at 1.75 billion euro and imported goods at 2.09 billion euro.

As exports in the total foreign trade decreased from 46.7 % in August 2025 to 45.5 % in August 2026, foreign trade balance worsened.

In the first eight months of this year, Latvian foreign trade turnover at current prices reached 30.78 billion euro, which is 2 440.4 million euro or 8.6 % more than in the corresponding period of 2025. The exported goods were valued at 14.01 billion euro (up by 1 028.3 million euro or 7.9 %) and imported goods at 16.76 billion euro (up by 1 412.1 million euro or 9.2 %).

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 May 2026 have been revised.

Calendar and seasonally adjusted data at current prices show that the value of exported goods rose by 11.4 % year on year, and the value of imported goods increased by 14.5 %. Month on month, the value of exports grew by 0.7 %, and the value of imports increased by 1 %.

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

• exports of mineral products up by 80.8 million euro or 61.5 %;
• exports of machinery and mechanical appliances, electrical equipment up by 35.9 million euro or 15.1 %;
• exports of base metals and articles of base metals up by 27.1 million euro or 30.9 %;
• exports of products of the chemical or allied industries up by 13 million euro or 9.7 %;
• plastics and articles thereof, rubber and articles thereof up by 10.2 million euro or 20.8 %.

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

• imports of mineral products up by 96.1 million euro or 50.2 %;
• imports of vehicles and associated transport equipment up by 40.6 million euro or 24.1%;
• imports of machinery and mechanical appliances, electrical equipment up by 37.5 million euro or 10.1 %;
• imports of products of the chemical or allied industries up by 25.8 million euro or 13.3 %;
• imports of prepared foodstuffs up by 20.5 million euro or 11.8 %.

With a share of 18.6 % in the total exports, Lithuania was the largest destination for goods exported from Latvia in August 2026. Estonia followed with 10.9 %, Germany with 6.6 %, and Russia with 5.6 %. Lithuania was also the leading trading partner for imports, with a share of 22.8 %. Germany followed with 11.4 %, Poland with 10.7 %, and Estonia with 9.4 %. 

Exports to the United States reduced by 8.4 % year on year and was valued at 29.1 million euro. The downturn was driven primarily by reduced exports of optical instruments and apparatus (including medical), which fell by 56.9 % or 4.4 million euro. Imports from the United States dropped by 44.5 % and was valued at 19.5 million euro. The decline was mainly due to lower imports of machinery and mechanical appliances, electrical equipment (down by 65.7 % or 10.2 million euro).

The year-on-year rise in the exports of mineral fuels, mineral oils and products of their distillation was boosted by growing export of light petroleum oils and preparations, which went up by 41.6 million euro. Meanwhile, downturn in the exports of beverages, spirits and vinegar was caused by reduced export of sparkling wine, which fell by 5.3 million euro or 53.7 %.

Main exports by product, August 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 diesel, which went up by 48.6 million euro or 72.8 %. Decline in imports of articles of iron or steel, however, was caused by the drop in imports of metal structures and parts of structures, which fell by 8 million euro or 54.8 %.

Main imports by product, August 2026

(at current prices)

In August 2026, Latvia had surplus trade balance with 123 countries (meaning that value of exports was greater than the value of imports) and deficit trade balance with 47 countries.

The share of the European Union countries in the total value of exports increased by 0.4 percentage points year on year, while in the total value of imports it decreased by 1.4 percentage points. The share of the CIS countries remained stable in exports and fell by 0.3 percentage points in imports.

Latvian foreign trade by country group, August 2026

(at current prices)

Year-on-year comparison indicates a 7.1 % increase in the exports to Russia, which was valued at 98.8 million euro. The upturn was mainly driven by the rise in export of products of the chemical and allied industries, which increased by 62.5 % or 6.1 million euro. Imports from Russia went down by 67.7 % and was valued at 1.1 million euro. Reduced supply of goods from Russia was also mainly caused by reduced import of products of the chemical and allied industries, which went down by 95.2 % or 1.4 million euro.

Exports to Ukraine rose by 4 % and was valued at 27.6 million euro. The main cause of this increase was higher export of machinery and mechanical appliances, electrical equipment, which grew by 8 million euro. Imports from Ukraine dropped by 15.2 % and was valued at 15.3 million euro. The downturn was driven primarily by reduced import of products of the chemical and allied industries, which went down by 72.8 % or 2.2 million euro.

Exports to Belarus increased by 8.9 % and was valued at 13.2 million euro. The rise was primarily affected by increased export of products of the chemical and allied industries, which grew by 51.9 % or 2.1 million euro. Imports from Belarus rose by 22.6 % and was valued at 3.1 million euro. The main cause for this increase was higher import of products of the chemical and allied industries, which went up by 0.7 million euro.

Latvian foreign trade with Belarus, Russia, and Ukraine, August 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, under Foreign trade in goods, as well as in the 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 August 2026, the value of these transactions made up 5.5 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