FX.co ★ Latvia Trade Deficit Widens in February

Latvia’s trade deficit widened to EUR 334.2 million in February 2026, up from EUR 121.3 million in the same month a year earlier. Exports declined by 5% year-on-year to EUR 1,550.8 million, weighed down by lower shipments of wood and wood products, including charcoal (-8.3%), mineral fuels and refined petroleum products (-6.8%), as well as plastics and related products (-11.5%). Among key trading partners, exports to CIS countries fell by 2.8%.

By contrast, imports increased by 7.5% to EUR 1,885 million, supported by higher purchases of mineral fuels, oil and refined petroleum products (42.1%), electrical machinery and equipment (17.3%), mechanical appliances (2.5%), and pharmaceutical products (20%). Import volumes rose from EU member states (83.4%), CIS countries (0.7%), and other markets (15.9%).

Over the first two months of the year, the trade deficit expanded to EUR 505.5 million, compared with EUR 340.2 million in the corresponding period a year earlier.