2025.09.0910:41:15UTC+00Latvia Trade Gap Widens in July

In July 2025, Latvia reported a trade deficit of EUR 514.2 million, expanding from EUR 406.2 million in the same month the previous year. Imports increased by 5.7% compared to the previous year, totaling EUR 2,021.0 million. This rise was primarily driven by significant upticks in the importation of machinery and mechanical appliances, which grew by 26.3%, base metals and related products, which rose by 15.6%, and products from the chemical industry, which saw a 7.9% increase. Regionally, imports from the European Union rose by 4.5%, and imports from non-EU countries surged by 19.3%. However, there was a notable 36.2% decline in imports from CIS countries, and imports from the United States dropped by 4.9%. On the export front, there was a mild increase of 0.1%, bringing the total to EUR 1,506.8 million. This slight rise in exports was facilitated by a significant 29.5% increase in live animals and animal products, along with a 5.8% increase in machinery and mechanical appliances. However, these gains were partially counterbalanced by considerable declines in vegetable products, which fell by 32.5%, base metals and related products, down by 18.8%, and mineral products, which decreased by 13.3%. In terms of export destinations, shipments to EU countries increased by 2.3%, with a 9.2% rise to CIS countries, but exports to non-EU countries decreased by 10.0%. Exports to the US specifically dropped by 24.3%.