Latvia
3B €
Exports
2022
2004 January2022 December
2.4B €
Imports
2022
2004 January2022 December
Latvia is the 2nd largest export partner of Estonia. In 2022, Estonia's exports to Latvia amounted to €3B and imports from Latvia to €2.4B, resulting in positive trade balance of €599M.
Exports
2022
In 2022, Estonia's exports to Latvia amounted to €3B, making it the 2nd largest export partner in the world. Compared to the previous year, exports from Estonia to Latvia experienced growth at an annualized rate of 63.7%, from €1.83B in 2021 to €3B in 2022. Most recently, exports were led by electricity, which represent 44.5% of the total exports to Latvia, followed by petroleum gases, which account for 6.89%.
Imports
2022
In 2022, Estonia's imports from Latvia ammounted to €2.4B, making it the 4th largest import partner in the world. Compared to the previous year, imports from Latvia to Estonia experienced growth at an annualized rate of 35.2%, from €1.78B in 2021 to €2.4B in 2022. Most recently, imports were led by petroleum gases, which represent 22.8% of the total imports from Latvia, followed by wood sawn or chipped lengthwise, sliced or peeled,..., which account for 22.8%.
Trade Balance
As of 2022 December, Estonia had positive trade balance of €112M with Latvia. In 2021 December, it had positive trade balance of €24.8M.
