Latvia
Europe
Trade in Latvia
| Latvia was the world’s 74th largest exporter of goods and 71st largest exporter of commercial services in 2022. Export values were $24.10 billion and $7.37 billion USD respectively. Latvia’s top export category was Manufactures, followed by Agricultural products, and Machinery and transport equipment. In 2022, Latvia’s main export destination markets for goods and services trade were to Lithuania, Estonia and Russian Deferation, with trade representing 148.50 per cent of GDP. In terms of imports, Latvia is the world’s 75th largest importer of goods and 84th largest importer of commercial services. Import values were $29.50 billion and $5.05 billion USD respectively in 2022. Latvia’s top import category was Manufactures, followed by Machinery and transport equipment and Fuels and mining products. Leading import partners were Lithuania, Germany and Poland. Latvia is part of 47 different Regional Trade Agreements, including EU – Albania and EU – Algeria. |
General InformationThis section includes general information on the economy, legal system, official languages and links to additional demographic information. |
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Official Name |
Republic of Latvia |
Abbreviation |
LV |
Capital |
Riga |
WTO Membership Date |
10 February 1999 |
Legal System |
civil law system with traces of socialist legal traditions and practices |
Language |
Latvian |
Number of Time Zone(s) |
1 |
Additional Information | |
Financial InformationThis section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance. |
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Currency |
Euro |
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Exchange Rate |
Google Finance Currencies |
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GTFP Confirming Banks Through the IFC's Global Trade Finance Program (GTFP) bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. This extends and complements the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in challenging markets where trade lines may be limited. |
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Contact InformationThis section includes contact information for business support organizations and national resources. |
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Business Support Organizations |
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Copyright Offices |
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Industrial Property Offices |
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SPS Enquiry Points Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements. |
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TBT Enquiry Points Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements. |
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Additional Information |
ePing alert |
Links to other helpful resourcesThis section includes additional links to trade-related resources. |
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National Tariff Finder |
https://taxation-customs.ec.europa.eu/index_en |
Trade Information Portal |
https://latvija.lv/en/PPK/Uznemejdarbiba/Imports-eksports |
Last Reviewed: June, 2024
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