In 2014, the value of merchandise exports of Latvia increased slightly by 1.9 percent to reach 13.6 bln US$, while its merchandise imports decreased slightly by 0.4 percent to reach 16.7 bln US$ (see graph 1, table 2 and table 3). The merchandise trade balance recorded a moderate deficit of 3.1 bln US$ (see graph 1). The largest merchandise trade balance was with MDG Developed Europe at -3.4 bln US$ (see graph 4). Merchandise exports in Latvia were diversified amongst partners; imports were also diversified. The top 15 partners accounted for 80 percent or more of exports and 12 partners accounted for 80 percent or more of imports (see graph 5). In 2013, the value of exports of services of Latvia increased substantially by 14.2 percent, reaching 5.2 bln US$, while its imports of services increased moderately by 8.0 percent and reached 2.8 bln US$ (see graph 2). There was a moderate trade in services surplus of 2.4 bln US$.

Related Subject(s): International Trade and Finance
Countries: Latvia
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