Latvia’s foreign trade turnover reached EUR 42.73 billion in 2025, a 5.4% increase compared to the previous year, according to data released by the Central Statistical Bureau (CSB) on February 19th. Exports rose to EUR 19.54 billion, up 3.7% from 2024, while imports increased by 6.9% to EUR 23.19 billion.
The increase in export value was primarily driven by mineral products, which saw a rise of EUR 353.5 million, a 24.7% increase, and live animals and animal products, up 22.4% or EUR 212.3 million. The value of exports increased by 4.5% when adjusted for calendar and seasonal variations, while imports grew by 7%.
Wood and articles of wood remained Latvia’s primary export commodity, accounting for 15.3% of total exports. Electrical machinery and equipment followed at 10.2%, and mineral fuels, mineral oils, and their distillates comprised 8.5% of the export total. Wood products were largely destined for the United Kingdom (24.8%), Sweden (9.3%), and Lithuania (7%). Electrical machinery and equipment were primarily exported to Lithuania (25.2%), Estonia (11.1%), and France (8%), while mineral fuels were shipped to Lithuania (17.4%), Nigeria (15.9%), and Estonia (9.6%).
Latvia exported goods to 201 countries in 2025. Lithuania, Estonia, Germany, the United Kingdom, and Sweden were the largest export partners, collectively representing 47.4% of the total export value. The majority of exports, 69.9% or EUR 13.66 billion, went to European Union countries, with EUR 10.43 billion going to euro area countries specifically. Exports to the Commonwealth of Independent States (CIS) totaled EUR 1.399 billion, or 7.2% of the total, while exports to other countries reached EUR 4.476 billion, representing 22.9%.
On the import side, electrical machinery and equipment accounted for 11.7% of total imports, mineral fuels, mineral oils, and their distillates for 10.7%, and vehicles other than railway or tramway rolling stock, along with their parts and accessories, for 9.4%. Electrical machinery and equipment were primarily imported from Lithuania (16.4%), China (12.6%), and Germany (8.4%). Mineral fuels were sourced mainly from Lithuania (47%), Finland (21.5%), and Estonia (9%), while vehicles and related parts came primarily from Germany (37%), Estonia (20%), and Poland (9.8%).
Latvia imported goods from 167 countries in 2025. The five largest import partners – Lithuania, Germany, Poland, Estonia, and Finland – accounted for 58.4% of the total import value. Imports from Lithuania and Finland were largely mineral products, from Germany transport equipment, and from Poland and Estonia agricultural and food products.
Trade with Russia, Belarus, and Ukraine saw declines in 2025. Exports to Russia decreased by 7.3% to EUR 962.5 million, largely due to a 13.1% drop in prepared foodstuffs exports. Imports from Russia fell by a significant 68.2% to EUR 125.6 million, driven by a 98.5% reduction in mineral product imports. Exports to Ukraine decreased by 13% to EUR 316.7 million, with reductions in mineral products and chemical industry products. Imports from Ukraine fell by 15.9% to EUR 242.2 million, primarily due to a decline in chemical industry imports. Exports to Belarus decreased by 7.1% to EUR 132.5 million, while imports from Belarus reduced by 56.1% to EUR 65.4 million, largely due to a decrease in imports of fats and oils.
According to the CSB, as of this year, population estimates are being produced using a new method based on administrative data and a ‘signs of life’ approach, enabling more accurate determination of population status without traditional census methods. Latvia’s population stood at approximately 1,857,000 at the beginning of 2025, a decrease of 1.0% or 18,400 people compared to 2024.
