FX.co ★ Latvia Trade Deficit Widens in October

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%.