Letonia Balanza Comercial

Latvia’s trade deficit widened to EUR 300.8 million in May 2025 from EUR 222.7 million in the same month a year ago, as imports rose more than exports. Year-on-year, imports grew by 5.6% to EUR 1,891.8 million, largely due to increased purchases of electrical machinery & equipment (6.9%), vehicles other than railway or tramway rolling stock, and parts & accessories thereof (16.5%), machinery & mechanical appliances (18.6%), and pharmaceutical products (24.6%). Imports from both the EU (8%) and other countries (3.7%) went up, while those from CIS countries declined sharply (-43.6%). Meanwhile, exports rose by 1.4% to EUR 1,591.0 million, supported mainly by higher sales of mineral fuels, mineral oils & products of their distillation (17.2%), vehicles other than railway or tramway rolling stock, and parts & accessories thereof (14.4%), and pharmaceutical products (16.8%). Exports to other countries increased (21.9%), while those to the EU (-2.6%) and CIS countries (-14.9%) dropped.