Latvia

Compare Latvia →

LV · LVA · BACI 428 · latest data 2024

Exports

$18.4B USD, nominal · 2024

= $18,369 M26.6% over 5 yrs (up)

Imports

$22.2B USD, nominal · 2024

= $22,246 M22.7% over 5 yrs (up)

Trade balancedeficit

−$3.9B USD, nominal · 2024

= −$3,877 M

Total trade

$40.6B USD, nominal · 2024

= $40,615 M24.4% over 5 yrs (up)

World position: #79 of 225 exporters · top half · #78 of 225 importers · top half · 2024
World export share since 1995: +0.0 pp

Trade timeline

Latvia's exports grew from $2.7B in 1995 to $18.4B in 2024; the 2024 balance was −$3.9B.

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Exports, imports, trade balance and total trade of Latvia per year, USD millions.
Year	Exports ($M)	Imports ($M)	Balance ($M)	Total ($M)
1995	$2,674 M	$2,086 M	$588 M	$4,760 M
1996	$2,954 M	$2,902 M	$52 M	$5,857 M
1997	$3,213 M	$3,379 M	−$166 M	$6,592 M
1998	$2,973 M	$3,781 M	−$808 M	$6,754 M
1999	$2,740 M	$3,621 M	−$881 M	$6,361 M
2000	$2,998 M	$3,548 M	−$550 M	$6,546 M
2001	$3,070 M	$4,183 M	−$1,113 M	$7,253 M
2002	$3,177 M	$4,336 M	−$1,159 M	$7,513 M
2003	$3,973 M	$5,932 M	−$1,960 M	$9,905 M
2004	$5,621 M	$7,308 M	−$1,687 M	$12,929 M
2005	$7,023 M	$9,223 M	−$2,199 M	$16,246 M
2006	$8,382 M	$11,948 M	−$3,566 M	$20,329 M
2007	$9,939 M	$16,586 M	−$6,647 M	$26,525 M
2008	$11,390 M	$17,887 M	−$6,496 M	$29,277 M
2009	$8,399 M	$13,377 M	−$4,978 M	$21,777 M
2010	$9,720 M	$11,965 M	−$2,245 M	$21,686 M
2011	$12,905 M	$18,513 M	−$5,609 M	$31,418 M
2012	$12,809 M	$19,405 M	−$6,596 M	$32,214 M
2013	$13,089 M	$16,860 M	−$3,771 M	$29,950 M
2014	$14,216 M	$17,385 M	−$3,169 M	$31,600 M
2015	$11,670 M	$14,887 M	−$3,217 M	$26,557 M
2016	$11,755 M	$18,278 M	−$6,524 M	$30,033 M
2017	$12,989 M	$19,974 M	−$6,985 M	$32,964 M
2018	$15,613 M	$19,376 M	−$3,763 M	$34,990 M
2019	$14,505 M	$18,134 M	−$3,629 M	$32,639 M
2020	$15,242 M	$18,748 M	−$3,506 M	$33,990 M
2021	$18,733 M	$22,500 M	−$3,766 M	$41,233 M
2022	$22,387 M	$27,611 M	−$5,224 M	$49,999 M
2023	$19,927 M	$24,361 M	−$4,435 M	$44,288 M
2024	$18,369 M	$22,246 M	−$3,877 M	$40,615 M

30 rows

World share & rank

World export share moved from 0.1% in 1995 to 0.1% in 2024; export rank #77 → #79.

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World export and import share in percent, and world ranks, of Latvia per year.
Year	Export share (%)	Import share (%)	Export rank	Import rank
1995	0.05%	0.04%	#77	#93
1996	0.06%	0.05%	#78	#89
1997	0.06%	0.06%	#79	#86
1998	0.05%	0.07%	#79	#82
1999	0.05%	0.06%	#82	#81
2000	0.05%	0.05%	#90	#89
2001	0.05%	0.07%	#87	#85
2002	0.05%	0.07%	#88	#85
2003	0.05%	0.08%	#84	#80
2004	0.06%	0.08%	#80	#81
2005	0.07%	0.09%	#78	#81
2006	0.07%	0.10%	#83	#78
2007	0.07%	0.12%	#79	#74
2008	0.07%	0.11%	#83	#78
2009	0.07%	0.11%	#85	#79
2010	0.06%	0.08%	#86	#87
2011	0.07%	0.10%	#83	#79
2012	0.07%	0.11%	#83	#78
2013	0.07%	0.09%	#85	#87
2014	0.08%	0.09%	#82	#86
2015	0.07%	0.09%	#86	#88
2016	0.08%	0.12%	#82	#77
2017	0.07%	0.11%	#82	#77
2018	0.08%	0.10%	#81	#82
2019	0.08%	0.10%	#84	#83
2020	0.09%	0.11%	#77	#74
2021	0.09%	0.11%	#80	#78
2022	0.09%	0.11%	#77	#76
2023	0.09%	0.11%	#79	#76
2024	0.08%	0.10%	#79	#78

30 rows

Trading partners

Lithuania was Latvia's top trading partner in 2024, at 19.0% of total trade; the top five partners covered 46.8%.

Year

Top partner share: 19.0%
Top-5 share: 46.8%
Partners: 204
Partner HHI (0–1): 0.068

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Lithuania $3.4B

Estonia $1.2B

United Kingdom $1.1B

Russia $1.1B

Germany $1.1B

Sweden $975M

Denmark $844M

Poland $736M

Netherlands $704M

United States $641M

Finland $558M

France $429M

Italy $334M

Belgium $245M

China $236M

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Top partners of Latvia in 2024, USD millions.
Rank	Partner	Exports to ($M)	Imports from ($M)	Total ($M)	Balance ($M)
#1	Lithuania	$3,435 M	$4,301 M	$7,736 M	−$866 M
#2	Germany	$1,060 M	$2,418 M	$3,478 M	−$1,358 M
#3	Poland	$736 M	$2,324 M	$3,060 M	−$1,588 M
#4	Estonia	$1,234 M	$1,715 M	$2,948 M	−$481 M
#5	Finland	$558 M	$1,218 M	$1,777 M	−$660 M
#6	Netherlands	$704 M	$1,002 M	$1,706 M	−$298 M
#7	Sweden	$975 M	$708 M	$1,684 M	$267 M
#8	Russia	$1,087 M	$414 M	$1,501 M	$672 M
#9	United Kingdom	$1,103 M	$203 M	$1,306 M	$901 M
#10	Denmark	$844 M	$453 M	$1,297 M	$392 M
#11	China	$236 M	$872 M	$1,108 M	−$636 M
#12	Italy	$334 M	$771 M	$1,105 M	−$438 M
#13	United States	$641 M	$260 M	$901 M	$381 M
#14	France	$429 M	$368 M	$798 M	$61 M
#15	Belgium	$245 M	$454 M	$699 M	−$209 M

15 rows

Products & sectors

Product composition of Latvia's trade in 2024.

Year

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Concentration & risk

Latvia's export partners diversified over 1995–2024 — HHI 0.088 → 0.063, a diversified export base across 200 partners in 2024.

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Export and import partner HHI (0–1) and partner counts of Latvia per year.
Year	Export HHI	Import HHI	Export partners	Import partners
1995	0.088	0.086	97	109
1996	0.085	0.103	101	121
1997	0.089	0.096	113	113
1998	0.083	0.068	124	109
1999	0.082	0.066	132	108
2000	0.075	0.075	138	113
2001	0.073	0.076	142	123
2002	0.084	0.069	143	132
2003	0.084	0.071	154	131
2004	0.073	0.067	156	132
2005	0.084	0.069	161	131
2006	0.097	0.068	176	141
2007	0.063	0.070	180	140
2008	0.055	0.071	183	145
2009	0.055	0.118	179	133
2010	0.060	0.067	178	142
2011	0.061	0.081	180	147
2012	0.056	0.083	190	145
2013	0.063	0.075	196	141
2014	0.061	0.073	195	150
2015	0.065	0.070	193	143
2016	0.066	0.122	196	154
2017	0.060	0.101	197	155
2018	0.057	0.068	202	150
2019	0.059	0.069	198	155
2020	0.057	0.077	196	161
2021	0.067	0.072	196	164
2022	0.063	0.092	194	166
2023	0.063	0.073	198	166
2024	0.063	0.078	200	170

30 rows

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