FX.co ★ Latvia Trade Deficit Narrows in January

Latvia’s trade deficit narrowed to EUR 171.3 million in January 2026, down from EUR 218.9 million in the same month a year earlier. Exports fell by 6.6% year-on-year to EUR 1,575.1 million, pressured by weaker sales of wood and articles of wood; wood charcoal (-2.9%), mineral fuels, mineral oils and products of their distillation (-17.1%), machinery and mechanical appliances (-5.1%), and cereals (-41.1%). By destination, exports declined most sharply to CIS countries (-16.5%) and to other non-EU markets (-38.1%), while exports to EU countries increased by 6.2%.

Imports dropped by 8.3% compared with a year earlier, to EUR 1,746.4 million, largely reflecting lower purchases of electrical machinery and equipment (-5.6%), mineral fuels, mineral oils and products of their distillation (-16.7%), vehicles and parts (-3.0%), plastics and articles thereof (-12.4%), and iron and steel (-49.6%). By origin, arrivals from CIS countries plunged (-64.4%) and those from EU countries also declined (-8.8%), whereas imports from other countries rose by 6.5%.