Riga – Latvia’s foreign trade demonstrated resilience in 2025, with exports reaching EUR 19.54 billion – a 3.7% increase compared to the previous year, according to provisional data released by the Central Statistical Bureau (CSB) on February 19th. The overall foreign trade turnover reached EUR 42.73 billion, representing a 5.4% rise year-on-year. While exports showed positive momentum, imports too increased, climbing 6.9% to EUR 23.19 billion.
The growth in Latvian exports signals continued economic activity despite a complex geopolitical landscape and ongoing challenges in key trading partner regions. The CSB data reveals a shift in commodity flows, with mineral products and live animals leading the export gains. This positive trend is particularly noteworthy given the economic pressures impacting global trade routes and supply chains.
Key Drivers of Export Growth
The surge in export value was primarily driven by mineral products, increasing by EUR 353.5 million (24.7%), and live animals and animal products, which saw a rise of EUR 212.3 million (22.4%). Wood, articles of wood, and wood charcoal remained the dominant export commodity, accounting for 15.3% of total exports, followed by electrical machinery and equipment (10.2%) and mineral fuels, mineral oils, and their distillates (8.5%).
The primary destinations for Latvian wood products continued to be the United Kingdom (24.8%), Sweden (9.3%), and Lithuania (7%). Electrical machinery and equipment were largely exported to Lithuania (25.2%), Estonia (11.1%), and France (8%), while mineral fuels found their largest markets in Lithuania (17.4%), Nigeria (15.9%), and Estonia (9.6%).
Expanding Global Reach
In 2025, Latvia exported goods to 201 countries worldwide. The five largest export partners – Lithuania, Estonia, Germany, the United Kingdom, and Sweden – collectively represented 47.4% of the total export value. A significant 69.9% of Latvia’s exports were destined for European Union (EU) countries, totaling EUR 13.6619 billion, with EUR 10.4328 billion going to Eurozone nations. Exports to the Commonwealth of Independent States (CIS) accounted for 7.2%, while trade with other countries comprised 22.9%.
Import Trends and Key Commodities
On the import side, electrical machinery and equipment constituted the largest share at 11.7% of total imports. Mineral fuels, mineral oils, and products of their distillation followed closely at 10.7%, with vehicles other than railway or tramway rolling stock, and their parts and accessories, accounting for 9.4%. Latvia sourced its electrical machinery and equipment primarily from Lithuania (16.4%), China (12.6%), and Germany (8.4%). Mineral fuels were largely imported from Lithuania (47%), Finland (21.5%), and Estonia (9%), while vehicles and related parts came mainly from Germany (37%), Estonia (20%), and Poland (9.8%).
Goods were imported into Latvia from 167 countries, with Lithuania, Germany, Poland, Estonia, and Finland being the largest import partners, representing 58.4% of the total import value. Mineral products were the main imports from Lithuania and Finland, transport equipment from Germany, and agricultural and food products from Poland and Estonia.
Impact of Regional Conflicts on Trade
Trade relations with Russia, Belarus, and Ukraine experienced notable shifts in 2025. Exports to Russia decreased by 7.3% to EUR 962.5 million, largely due to a 13.1% decline in prepared foodstuffs. Imports from Russia plummeted by 68.2% to EUR 125.6 million, primarily driven by a 98.5% reduction in mineral product imports. Exports to Ukraine fell by 13% to EUR 316.7 million, while imports decreased by 15.9% to EUR 242.2 million.
Similarly, exports to Belarus decreased by 7.1% to EUR 132.5 million, and imports fell by 56.1% to EUR 65.4 million. These declines reflect the ongoing geopolitical instability in the region and the impact of international sanctions and trade restrictions.
Here’s a summary of trade with Belarus, Russia, and Ukraine:
| Exports | Imports | |||||
|---|---|---|---|---|---|---|
| million EUR | % of total value | changes as %, compared to 2024 | million EUR | % of total value | changes as %, compared to 2024 | |
| Total | 19 537.7 | 100 | 3.7 | 23 193.9 | 100 | 6.9 |
| Belarus | 132.5 | 0.7 | -7.1 | 65.4 | 0.3 | -56.1 |
| Russia | 962.5 | 4.9 | -7.3 | 125.6 | 0.5 | -68.2 |
| Ukraine | 316.7 | 1.6 | -13.0 | 242.2 | 1.0 | -15.9 |
Looking ahead, Latvia’s trade performance will likely continue to be influenced by global economic conditions, geopolitical developments, and the evolving trade relationships with its key partners. The CSB will continue to monitor these trends and provide updated data on Latvia’s foreign trade activity.
What are your thoughts on Latvia’s trade performance? Share your comments below and let us know how you think these trends will impact the Latvian economy.
