Foreign Trade Statistics

Foreign Trade Statistics in 2009 (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.

Due to the global financial crisis, in 2009 the exports decreased by 19%, but imports decreased by 38% compared with the previous year.

In 2009, exports to EU countries made up 71.3% of the total volume of Latvian exports and decreased by 697 million lats or 21% compared to 2008.

Wood and articles of wood comprise the most significant commodity group in Latvian exports and constituted 16% of them in 2009, followed by such traditional export products as machinery and mechanical appliances, lectrical equipment and metal products.

The most important commodities among Latvian imports were mineral products, making up 18% of the total value of imports, whereas machinery and mechanical appliances, electrical equipment comprised 16% and chemical products 12%.

In 2009, Latvia’s biggest trading partners were Lithuania (17% of Latvia's total trade turnover), Germany (10%), Russia (10%), Estonia (10%), Poland (6%) and Sweden (5%)).

Latvian Exports by Sector, 2009

Source: Central Statistical Bureau of Latvia, 2010

Latvian Exports by Countries, 2009

Source: Central Statistical Bureau of Latvia, 2010

Imports to Latvia by Sectors, 2009

Source: Central Statistical Bureau of Latvia, 2010

Imports to Latvia by Countries, 2009

Source: Central Statistical Bureau of Latvia, 2010

Source: Central Statistical Bureau of Latvia, 2009