Latvia's Foreign Trade Turnover Rises by 11.3% in September 2025, Reaching EUR 3.83 Billion

Significant Growth in Latvian Foreign Trade

Latvia's foreign trade turnover experienced a notable increase in September 2025, rising by 11.3% compared to the previous year. Provisional data released by the Central Statistical Bureau (CSB) on November 11th indicates that the total turnover reached EUR 3.83 billion at current prices. This growth reflects dynamic activity in both export and import sectors of the Latvian economy.

Detailed Breakdown of Exports and Imports

The increase in overall trade was driven by substantial rises in both exports and imports. The value of goods exported from Latvia in September 2025 stood at EUR 1.73 billion, marking an 8.8% increase year-on-year. Imports, meanwhile, saw an even more pronounced surge, growing by 13.5% to reach EUR 2.09 billion.

Despite the overall growth in turnover, the foreign trade balance worsened slightly. Exports as a share of total foreign trade decreased from 46.4% in September 2024 to 45.3% in September 2025. In September 2025, Latvia maintained a positive foreign trade balance with 122 partner countries, while recording a deficit with 46 partners.

Key Trading Partners and Commodity Flows

Latvia's foreign trade in September 2025 continued to be concentrated with its regional and European partners. The main export destinations included Lithuania (17.3% of total exports), Estonia (10.8%), Germany (7.1%), and the United Kingdom (5.6%). On the import side, the primary partners were Lithuania (21.3% of total imports), Poland (10.8%), Germany (10.8%), and Estonia (9.1%).

Historically, Latvia's key export commodities have included:

• Wood, articles of wood and wood charcoal
• Electrical machinery and equipment
• Mineral fuels, mineral oils and products of their distillation
• Wheat

• Mineral fuels, mineral oils and products of their distillation
• Electrical machinery and equipment
• Vehicles
• Packaged medicaments

Economic Context and Outlook

The increase in foreign trade turnover aligns with broader economic forecasts for Latvia in 2025. Economists, such as Joona Widgren, senior economist at OP Financial Group, have projected a low to moderate economic growth for Latvia in 2025, with GDP potentially growing by 1.5% and inflation rising by 2.5%. The European Commission also projected real GDP growth to reach 0.5% in 2025, with exports expected to recover gradually. This recovery is anticipated to be supported by rising private consumption, public investment, and modest export growth, despite ongoing global uncertainties and trade policy challenges.