Export Data

Latvia Import Data

Trade between the EU and Eastern Europe is facilitated by Latvia, a Baltic country in Northern Europe. For its industries and customers, imports are essential, particularly for food, machinery, and energy. The capital and primary center of commerce is Riga. As per Latvia import data, with a population of over 1.8 million and a GDP of almost USD 44 billion, Latvia is expected to import approximately USD 25 billion in 2024, underscoring its open economy and reliance on trade.

According to Latvia customs data, Latvia is heavily dependent on sophisticated machinery and refined petroleum, as seen by its top imports. Meeting domestic demand also heavily relies on consumer items like automobiles.

81

Latvia is ranked around 81st among global importers.

0.06%

Latvia contributes about 0.06% of the world’s total imports.

Germany

Germany is Latvia’s largest supplier, sending machinery, vehicles, and electronics.

Refined Petroleum

Refined petroleum tops Latvia’s imports due to its energy needs and limited domestic production.

Top 10 Import Products of Latvia

As per Latvia customs import data, with the largest import volumes coming from consumer items, equipment, and fuel, Latvia's import portfolio reflects its strong industrial base and energy dependence.

Refined Petroleum (HS 2710): USD 3.75 Billion — 15.0%
Cars & Motor Vehicles (HS 8703): USD 2.50 Billion — 10.0%
Electrical Machinery (HS 8542): USD 2.00 Billion — 8.0%
Industrial Machinery (HS 8479): USD 1.75 Billion — 7.0%
Plastics & Articles (HS 3901): USD 1.50 Billion — 6.0%
Pharmaceuticals (HS 3004): USD 1.50 Billion — 6.0%
Telecommunications Equipment (HS 8517): USD 1.25 Billion — 5.0%
Iron & Steel (HS 7208): USD 1.25 Billion — 5.0%
Food & Beverages (HS 2106): USD 1.00 Billion — 4.0%
Furniture & Bedding (HS 9403): USD 0.75 Billion — 3.0%

Top 10 Import Trading Partners of Latvia

As per Latvia shipments data, Germany, Lithuania, and Poland are the major source nations for Latvia's imports, which are primarily from EU nations and close European allies.

Germany: 15.0% — USD 3.75 Billion
Lithuania: 12.0% — USD 3.00 Billion
Poland: 10.0% — USD 2.50 Billion
Estonia: 8.0% — USD 2.00 Billion
Russia: 7.0% — USD 1.75 Billion
Netherlands: 6.0% — USD 1.50 Billion
China: 5.0% — USD 1.25 Billion
Sweden: 5.0% — USD 1.25 Billion
Finland: 4.0% — USD 1.00 Billion
Belgium: 3.0% — USD 0.75 Billion

What Details Contain In Latvia Import Data?

Every shipment arriving by land, air, or sea is included in Latvia’s statistical import data. Businesses and analysts may use a comprehensive statistical dataset that includes essential trade statistics to gain a thorough understanding of the Italian import sector. The information helps customers assess trade flows, identify new possibilities, and follow supplier trends by recording each shipment's route, product categorization, stated values, and more. An essential resource for making well-informed decisions, whether assessing competition or broadening market reach, is Latvia’s import statistics. Usually, the statistical dataset consists of:

Date
HS Code
HS Code Description
Total Value in USD
FOB Value
Quantity
Weight
Way of Transport
Destination Country
Import Country
Port of Loading
Port of Unloading

Benefits of Latvia Import data in your business

Gain a competitive edge by benchmarking competitors, finding new suppliers, and thoroughly understanding your industry using Latvia’s import statistical data.
Investigate International Markets: Examine Latvia’s purchasing trends to identify potential import markets for your goods.
Data-Driven Decisions: Make defensible decisions supported by up-to-date, transparent shipping data.
Reduce Risks: Before signing contracts, review shipping history and look for any possible warning signs.
Reliable and Accurate: High accuracy is ensured by the data's sourcing from official customs records.
Competitor insights: Keep tabs on where and how rivals obtain their goods.