FX.co ★ Latvia Trade Deficit Widens in August

Latvia’s trade deficit widened to EUR 342.6 million in August 2026, up from EUR 223.2 million in the same month a year earlier. Exports grew by 10.9% year-on-year to EUR 1,749.8 million, supported primarily by higher shipments of mineral fuels, oil and refined products (up 66.2%), electrical appliances and equipment (up 9.2%), and wood, wood products and charcoal (up 0.7%).

By destination, exports increased to the European Union (up 11.6%), CIS countries (up 10.9%), and other countries (up 8.7%).

Imports rose at a faster pace, climbing 16.2% to EUR 2,094.2 million, driven by stronger purchases of mineral fuels, oil and refined products (up 52.1%), electrical appliances and equipment (up 21.6%), and land vehicles and parts (up 22.1%). Imports increased notably from the European Union (up 14.2%) and from other countries (up 30.4%), while they declined from CIS countries (down 33.1%).

Over the January–August period, Latvia’s trade deficit reached EUR 2,754.4 million, widening from EUR 2,370.4 million in the corresponding period of the previous year.