Latvia Trade Gap Widens in July

Latvia recorded a trade deficit of EUR 514.2 million in July 2025, widening from EUR 406.2 million a year earlier. Imports rose 5.7% year-on-year to EUR 2,021.0 million, led by higher purchases of machinery & mechanical appliances (+26.3%), base metals and related products (+15.6%), and chemical industry products (+7.9%). By region, imports increased from the EU (+4.5%) and other countries (+19.3%), while declining sharply from CIS countries (-36.2%). Notably, imports from the US fell 4.9%. Exports edged up 0.1% to EUR 1,506.8 million, supported by higher shipments of live animals and animal products (+29.5%) and machinery & mechanical appliances (+5.8%), partially offset by declines in vegetable products (-32.5%), base metals and related products (-18.8%), and mineral products (-13.3%). By destination, exports rose to EU countries (+2.3%) and CIS (+9.2%), while shipments to other countries fell (-10.0%). Exports to the US dropped 24.3%.