FX.co ★ Latvia Trade Gap Widens in September

Latvia’s trade deficit widened to EUR 369.8 million in September 2026, up from EUR 362.9 million in the same month a year earlier. Exports increased by 12.8% year-on-year to EUR 1,991.8 million, driven by stronger shipments of mineral fuels, oil and refined products (up 2.1 times), electrical appliances and equipment (up 11.3%), and wood, wood products and charcoal (up 2.9%).

By destination, exports grew to the EU (up 6.4%), CIS countries (up 5.5%), and other countries (up 34.5%).

Imports rose 10.9% to EUR 2,361.6 million, supported by higher purchases of mineral fuels, oil and refined products (up 63.5%), electrical appliances and equipment (up 14.1%), and land vehicles and parts (up 5.8%). Imports increased from the EU (up 13.1%) and from other countries (up 0.7%), but declined from CIS countries (down 20.6%).

Over January–September, the trade deficit reached EUR 3,101.4 million, compared with EUR 2,733.3 million in the same period a year earlier, indicating a further deterioration in the country’s trade balance.