FX.co ★ Latvia Trade Gap Widens in June

In June 2025, Latvia experienced a trade deficit amounting to EUR 464.4 million, expanding from EUR 332.1 million in the same month the previous year. This was largely due to a rise in imports coupled with a decline in exports. On an annual comparison, imports rose by 5.4% to EUR 1,862.3 million. This increase was largely fueled by elevated purchases in machinery and mechanical appliances (up by 18.6%), vehicles and related equipment (up by 12.3%), and products from the chemical industry (up by 9.7%). Imports from the European Union (EU) increased by 5.2%, and those from other countries surged by 26.9%, whereas imports from CIS countries plummeted by 64.9%. Conversely, exports saw a reduction of 2.6%, falling to EUR 1,397.9 million. This decline was mainly attributed to a significant drop in sales of plant products (down by 27.9%), wood and its products, including charcoal (down by 8.1%), and base metals along with their products (down by 18.6%). The export shipments decreased to CIS countries by 0.1% and to other countries by 11.4%, although there was a marginal increase to EU countries by 0.1%.