25.Feb .2021 00:00

In 2020 Exports of Goods of Latvia Reached a Record

In 2020 Exports of Goods of Latvia Reached a Record
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In 2020 export value of goods of Latvia comprised EUR 13.19 billion, which is EUR 224 million or 1.7 % more than in 2019, and so far this is the highest export value.

Provisional data of the Central Statistical Bureau of Latvia show that imports value of goods has reached EUR 15.08 billion, which is EUR 836.6 million or 5.3 % less than in 2019. The foreign trade turnover of Latvia at current prices reached EUR 28.27 billion – EUR 612.5 million or 2.1 % less than in 2019.
 
Last year main commodities in exports of Latvia were wood, articles of wood and wood charcoal; electrical machinery and equipment; machinery and mechanical appliances. Wood, articles of wood and wood charcoal was mostly exported to the United Kingdom (21.7 %), Estonia (13.6 %) and Sweden (9.3 %), electrical machinery and equipment – to Lithuania (23.3 %), Estonia (10.2 %), and Russia (9.5 %), machinery and mechanical appliances – to Lithuania (19 %), Russia (18.7 %) and Estonia (13.6 %).
 
In 2020 goods were exported from Latvia to 197 countries worldwide. The five largest export partners were Lithuania, Estonia, Russia, Germany, and Sweden. Their share comprised 49.7 % of total exports value. Machinery, mechanical appliances, and electrical equipment were mostly exported to Lithuania, agricultural and food products – to Estonia, Russia, and Germany, but wood and articles of wood – to Sweden.
 
Last year main commodities in imports of Latvia were electrical machinery and equipment; machinery and mechanical appliances; vehicles other than railway or tramway rolling stock, and parts and accessories thereof. Electrical machinery and equipment were mostly imported from Lithuania (14.3 %), China (13.6 %) and Poland (9.6 %), machinery and mechanical appliances – from Germany (17.6 %), Lithuania (12.2 %) and Poland (9.8 %), vehicles other than railway or tramway rolling stock, and parts and accessories thereof – from Germany (31.2%), Estonia (19.8 %) and Poland (9.6 %).
 
In 2020 goods were imported to Latvia from 163 countries worldwide. The five largest import partners were Lithuania, Germany, Poland, Estonia, and Russia. Their share comprised 53 % of total imports value. Agricultural and food products were mostly imported from Lithuania and Estonia, machinery, mechanical appliances, and electrical equipment – from Germany and Poland, but base metals and articles of base metals – from Russia.
 
The epidemiological crisis caused by coronavirus Covid-19 has enhanced trade in certain specific goods. In 2020, compared to 2019, imports of protective oral-nasal masks have risen by EUR 37.7 million or seven times, and they mainly were imported from China – in the amount of EUR 30.8 million or 70 %. Exports of these goods have risen by EUR 9.5 million or 85.8 %, and mostly they were exported to Sweden – 31.7 %, Estonia – 13.6 %, and Germany – 11.6 %. Imports of diagnostic or laboratory reagents, including Covid-19 test kits went up by EUR 21.7 million or 71.5 %. Mostly this good was imported from Ukraine – 31.6 %, Germany – 15.4 % and China – 12.4 %.