In October 2025, Latvia experienced an increase in its trade deficit, reaching EUR 290 million, compared to EUR 270 million in October the previous year. This change was largely due to a 2.9% rise in imports, totaling EUR 2,095 million. Key drivers of this growth included significant upticks in purchases of electrical appliances and equipment by 27.1%, land vehicles and their parts by 15.6%, and machinery and mechanical devices by 9.5%. Notably, imports from the European Union increased by 2.2%, with the Euro Area contributing a 2.7% rise. Conversely, imports from CIS countries fell sharply by 56.4%, while imports from non-European countries surged by 16.5%.
On the export front, there was a 2.2% year-on-year increase, reaching EUR 1,806 million. This was bolstered by stronger sales in sectors such as wood and wood-related products, including charcoal, which saw a 2.8% rise, electrical appliances and equipment with a 10.5% increase, and mineral fuels, oil, and refined products, which jumped 17.1%. Exports to the European Union recorded a 6.8% increase, with a specific 6.1% rise to the Euro Area. However, there was a downturn in sales to CIS countries, which decreased by 1.6%, and other regions, which dropped by 8.2%. Notably, exports to the United States fell by 5%.
