Latvia Major Exports by Category and Value

Navigate Latvia's export landscape with category-by-category analysis and key market insights

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Main Exported Product

$19.1 b

Market Size

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Highest-Volume Exports

~6.49%

Market Growth Rate

Latvia Export Market

AI Insight

Latvia's export economy shows a healthy 6.49% growth trajectory, driven by a mix of high-tech electronics and traditional forestry products. Lithuania and Estonia remain the dominant destination markets, representing 43.68% of total exports. Key pricing dynamics are influenced by the $747 million electronics sector and $732 million wood industry. Emerging momentum in the United Kingdom (7.4% growth) and Poland (6.6% growth) indicates successful market diversification beyond immediate neighbors, offering a stable yet expanding environment for trade and investment.

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Top 10 Exported Products

AI Insight

Latvia's 2024 export profile is led by HS 852520 (electronics) at $747.4 million and wood at $732.7 million. The data reveals a strong reliance on natural resources, including cereals ($601.5M) and wood pellets ($410.4M), alongside high-value pharmaceuticals. This diverse mix balances technology with primary commodities.

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Leading Destination Countries

Lithuania

26.6%

Estonia

17.08%

Germany

9.57%

Russia

8.44%

Sweden

8.32%

United Kingdom

8.1%

Denmark

6.39%

Poland

6.29%

Netherlands

4.79%

Finland

4.42%

AI Insight

Export activity is concentrated within the Baltic states. Lithuania is the top destination, capturing 26.6% of market share ($3.4 billion). Estonia follows with 17.08%. Together with Germany and Russia, these top four partners account for over 60% of Latvia's total export value, highlighting strong regional trade integration.

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Export Growth Performance

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6.5%Annual Growth

AI Insight

Latvia achieved a consistent 6.49% growth rate in its export sector. This steady upward trend reflects a competitive trade environment and the successful positioning of Latvian products in both regional and international markets.

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Emerging Supply Markets

AI Insight

The United Kingdom and Poland are emerging as high-growth partners for Latvia. The UK market grew by 7.4% to reach $1.04 billion, while Poland saw a 6.6% increase to $810 million. These figures significantly outpace the 1.24% growth observed in the Netherlands, signaling shifting trade priorities toward these expanding markets.

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Latvia Export Requirements

Before Shipment

1. EORI number registration. 2. CE marking for industrial goods. 3. Phytosanitary/Veterinary certificates for agri-food. 4. Import licenses for specific restricted items. 5. REACH compliance for chemical substances entering the EU market.

Documentation Required

1. Commercial Invoice. 2. Bill of Lading or Air Waybill. 3. Packing List. 4. Single Administrative Document (SAD). 5. Certificate of Origin for preferential tariff treatment.

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Latvia free trade agreements and preferential access markets.

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EU-UK Trade and Cooperation Agreement
EU-Canada Comprehensive Economic and Trade Agreement (CETA)
EU-Japan Economic Partnership Agreement
EU-South Korea Free Trade Agreement
EU-Vietnam Free Trade Agreement

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