Foreign Trade Statistics

Foreign Trade Statistics in 2010(provisional data)
 
Latvia possesses a unique geographical location on the shore of the Baltic Sea and at the centre of the Baltic countries. For centuries, this has placed Latvia squarely at a crossroads of international commerce. Since the 14th century, Latvia has been a major commercial hub between west and east, and was at the centre of the Hanseatic League, the world’s first Free Trade Area.

Foreign trade in Latvia has consistently increased since the regaining of independence, particularly after Latvia’s accession to the EU.

In 2010 the exports increased by 29.5%, but imports increased by 24% compared with the previous year.
In 2010, exports to EU countries made up 71.1% of the total volume of Latvian exports and increased by 731 million lats or 28.3% compared to 2009.

Wood and articles of wood comprise the most significant commodity group in Latvian exports and constituted 19.3% of them in 2010, followed by such traditional export products as metal products, machinery and mechanical appliances; electrical equipment.

The most important commodities among Latvian imports were machinery and mechanical appliances; electrical equipment  making up 16.4% of the total value of imports, whereas mineral products comprised 15.9% and metal products 11.6%.

In 2010, Latvia’s biggest trading partners were Lithuania (16.5% of Latvia's total trade turnover), Russia (10.5%), Germany (10.3%), Estonia (9.8%), Poland (6.5%) and Sweden (4.8%)).

Latvian Exports by Sector, 2010

Source: Central Statistical Bureau of Latvia, 2011

Imports to Latvia by Sectors, 2010

Source: Central Statistical Bureau of Latvia, 2011

Exports from Latvia by Countries, 2010

Source: Central Statistical Bureau of Latvia, 2011

Imports to Latvia by Countries, 2010

Source: Central Statistical Bureau of Latvia, 2011

Foreign Trade by Groups by Countries 1997-2010

Source: Central Statistical Bureau of Latvia, 2011