FX.co ★ Latvia Trade Deficit Narrows in July

Latvia’s trade deficit narrowed to EUR 453.7 million in July 2026, down from EUR 532.1 million in July 2025. Exports rose by 14.9% year-on-year to EUR 1,778.0 million, supported mainly by stronger shipments of machinery and mechanical appliances (+27.2%), electrical machinery and equipment (+24.7%), and vehicles other than railway or tramway rolling stock, along with related parts and accessories (+18.4%).

By destination, exports increased to EU countries (+15.6%), CIS countries (+5.7%), and other countries (+16.4%).

Imports grew 7.3% to EUR 2,231.7 million, driven primarily by higher purchases of fuels, mineral oils and related distillation products (+55.5%), pharmaceutical products (+23.9%), and plastics and articles thereof (+15.8%). Imports from EU countries rose by 6.3% and from other countries by 15.1%, while purchases from CIS countries fell by 27.7%.

Over the January–July period, Latvia’s cumulative trade deficit reached EUR 2,422 million.