IMPORT EXPORT
Latvia import Statistics

Latvia Import Data

The Republic of Latvia is another name for Latvia. The nation is located in northern Europe's Baltic region. Latvia is bordered by several nations, including Belarus, Estonia, Lithuania, and Russia. Liepaja, Riga, Ventils, and Sklute are Latvia's four main ports. Based on the complexity index, the nation is ranked 34th in the world. When it came to GDP, however, the nation ranked 99th. Based on Latvia trade statistics, Latvia is ranked 74th out of 226 nations in terms of total imports in 2023. In today's globalized economy, having access to accurate and up-to-date import data is crucial for companies looking to expand their business horizons. 

According to the Latvia import data, Latvia imported goods worth $27.1 billion in 2023. Latvia had 10% less goods imports in 2023 than in the previous year. Based on Latvia shipment data for 2023, mineral fuels and oils are Latvia’s biggest imports, while Lithuania is its biggest import partner. Latvia’s total GDP is $43.63 billion, with a GDP import share of 76.16%. Latvia is a part of trading blocs such as the EU, WTO, and OECD. Let’s delve into Latvia's import data for 2023 and how Latvia statistical data serves as a valuable tool for decision-makers, businesses, and entrepreneurs aiming to maximize their growth potential. 

Latvia Import Data | Latvia Statistical Data

74

The country has been ranked 74th in global imports, showing a significant position in the international trade landscape. 

0.1%

With a mere 0.1% share in global import trade, it becomes evident that its presence in the international import market is fairly on the rise.

LITHUANIA

Lithuania holds a significant role as the largest import partner of the country in terms of goods imports.

MINERAL FUELS AND OILS

Mineral fuels and oils are the major and biggest import commodities of the country, playing a vital role in its economy.

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Top 10 imports of Latvia: Latvia Import Data by HS Code

Latvia, a prominent player in the global trade market, has a diverse range of imports that contribute significantly to its economic growth. The top 10 imports of Latvia encompass a wide spectrum of goods, including mineral fuels, machinery, electric equipment, vehicles, pharmaceutical products, plastics, and more. The top 10 imports of Latvia in 2023 according to the Latvia import data and Latvia trade data are:

  • Mineral fuels and oils (HS code 27): 11.01% ($2.75 billion)
  • Electrical machinery and equipment (HS code 85): 10.68% ($2.66 billion)
  • Vehicles (HS code 87): 9.01% ($2.25 billion)
  • Nuclear reactors and machinery (HS code 84): 8.62% ($2.15 billion)
  • Pharmaceutical products (HS code 30): 4.92% ($1.22 billion)
  • Aircraft, spacecraft, and parts thereof (HS code 88): 3.55% ($885.71 million)
  • Plastics and articles thereof (HS code 39): 3.53% ($881.93 million)
  • Beverages, spirits, and vinegar (HS code 22): 3.3% ($823.40 million)
  • Rubber and articles thereof (HS code 40): 2.73% ($682.41 million)
  • Wood and articles of wood (HS code 44): 2.44% ($608.99 million)
    • Partners

    Top 10 Import Partners of Latvia: Latvia Import Data by Country

    Demonstrating its strong trade relationships, Latvia's top 10 import partners consist of countries from both within and outside the European Union. Lithuania takes the lead, followed by Estonia. Latvia’s top 10 import partners in 2023 based on the Latvia shipment data and Latvia statistical data include:

    Value In Percentage(%)

  • Lithuania: 21.2% (5.29 billion US$)
  • Germany: 11.1% (2.77 billion US$)
  • Poland: 10.6% (2.64 billion US$)
  • Estonia: 8.5% (2.13 billion US$)
  • Netherlands: 4.3% (1.08 billion US$)
  • Finland: 4% (1 billion US$)
  • China: 3.7% (935.69 million US$)
  • Italy: 3.6% (910.62 million US$)
  • Sweden: 3.2% (787.77 million US$)
  • Canada: 2.8% (694.96 million US$)
    • Sample Data

    What is Latvia Statistical Import Data?

    We obtain trustworthy data from organizations, shipping businesses, and customs ports. This Trade Data contains a wide range of fields, such as HS codes, product descriptions, prices, quantities, origin country, destination country, and port names together with currency values. For traders and marketers, this trade data is crucial information that helps them to make informed decisions. From the HS codes and product descriptions to the quantity and cost of each product, everything can be obtained through this trade data. We have included a sample of this trade data for your convenience and greater understanding so that you can see what the trade data looks like as a whole, with complete details.

    Latvia import data which comes under the statistical data, refers to the detailed information and statistics related to the goods and services brought into the country from international sources. This data offers invaluable insights into the types of products being imported, their origin countries, quantity, value, and other essential details. It provides a comprehensive overview of trade trends within the Latvian market. According to the Latvia statistical data, Latvia imported goods worth $27.1 billion in 2023. The information we provide you in Latvia import data and Latvia shipment data is highly helpful and informative. All of the information in our database is derived from recently updated shipping bills, invoices, and other crucial transaction documents. You will undoubtedly find our database and information to be very helpful in identifying the ideal market for gauging possible gains and market risks. We obtain trustworthy data from approved ports in Latvia, organizations, and other shipping firms. We obtain trustworthy data from organizations, shipping businesses, government authorities, and customs ports. For traders and marketers, this statistical trade data is crucial information that helps them make informed decisions. Everything can be obtained through this shipment data from the HS codes and product descriptions to the quantity and cost of each product. We have included a sample of the trade data for your convenience and greater understanding so that you can see what the trade data looks like as a whole, with complete details. So, as you can see, in this statistical report, we also include the number of goods needed to be imported/exported, HS codes, the product description, quantity, and price of each product from the country's shipment data. In this comprehensive statistical database, we ensure that every detail is meticulously recorded, which makes this trade data efficient for businesses worldwide. 

    Latvia Import Data
    ID 22576 MONTH Jul-24
    FLOW Import STAT REGIME Normal
    HS CODE 01022929 PRODUCT DESCRIPTION Live cattle of a weight > 80 kg but <= 160 kg (excl. for slaughter, pure-bred for breeding)
    IMPORTER COUNTRY Latvia ORIGIN COUNTRY Lithuania
    TRADE TYPE Intra-EU Trade SUP QUANTITY 71
    SUPP UNIT NUMBER OF ITEMS NET WEIGHT 8148
    US CIF 21183 VALUE IN EUROS 19538
    Benefits

    Benefits of Latvia Import Data

  • Latvia import data allows businesses to conduct a comprehensive market analysis.
  • Latvia's import data helps companies gain insights into Latvia trade activities.
  • Find exclusive import trends in Latvia.
  • Obtain High-Quality Business Leads.
  • Boost Your Company's ROI.
  • Stay informed of import market trends.

    • Frequently Asked Questions!!

    According to Latvia trade statistics, Latvia imported goods worth $27.1 billion in 2023.

    Based on Latvia trade records for 2023, the top imports of Latvia include mineral fuels, vehicles, and electrical machinery. 

    As per Latvia trade activities for 2023, Latvia's top import partners include Lithuania, Germany, Poland, Russia, and Estonia.

    Yes, there has been a slight decrease in Latvia's imports over the years, with a noticeable decline in 2023.

    Yes, there has been a noticeable increase in imports of pharmaceutical products, as well as machinery and equipment, as Latvia continues to modernize and develop its industries.

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