In January 2022, Latvia’s foreign trade turnover amounted to 2.95 billion euros, which was 32.9% more in real terms than a year ago, including an increase of 29.6% in exports and 35.8% in imports. preliminary data from the Central Statistical Bureau (CSB) show.
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In January, Latvia exported goods worth 1.37 billion euros and imported 1.58 billion euros. Compared to January 2021, the foreign trade balance deteriorated, exports in total foreign trade decreased from 47.6% to 46.4%. The CSB notes that foreign trade data on goods are reflected in actual prices and calculated taking into account the value of goods in euros and not their physical quantity.
According to calendar and seasonally adjusted data, in January this year, compared to January 2021, the value of exports at current prices was 26.7% higher, but that of imports – 30.6%. Compared to the previous month, the value of exports decreased by 1.4%, while that of imports increased by 13.2%.
In January, the most important export partners were Lithuania (16.4% of total exports), Estonia (12.8%), Germany (7.7%) and the Russian Federation (6.5%). The most important import partners are Lithuania (17.5% of total imports), the Russian Federation (12.2%), Germany (10.1%) and Poland (9.1%).
In January this year, Latvia’s foreign trade balance was positive with 112 partner countries, with the value of exports exceeding the value of imports. It was negative in trade with 47 countries.
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