Latvia’s Foreign Trade Growth: April 2026 Performance and Market Shifts
Latvia’s foreign trade turnover reached 4.13 billion euros in April 2026, marking a 12.6% increase compared to the same period in 2025, according to preliminary data from the Central Statistical Bureau (CSP). Exports grew by 13.9% to 1.94 billion euros, while imports rose by 11.4% to 2.19 billion euros. This trade activity reflects a broader, multi-month trend where the export-to-import ratio improved, with exports accounting for 47% of total trade volume, up from 46.4% a year prior.
In April 2026, Latvia maintained a positive trade balance with 126 partner countries, meaning the value of goods exported to these nations exceeded the value of imports received from them.
What Drove the Surge in Export and Import Values?
The primary driver for the export growth was the mineral fuel and oil sector, which saw a significant boost in motor gasoline shipments. According to the CSP, the export value of mineral products rose by 71.9 million euros compared to April 2025. Conversely, the dairy and egg sector faced headwinds, with the export of unrefined milk and cream dropping by 7.7 million euros, a 37.4% decline.
On the import side, the 11.4% increase was largely fueled by energy needs. The import of natural gas and diesel fuel rose by 58.3 million euros and 47.8 million euros, respectively. While total import values climbed, certain segments like iron and steel construction materials saw a contraction, with imports falling by 5.5 million euros or 34.9% compared to the previous year.
How Has Trade with Non-EU Partners Changed?
Latvia’s trade relationship with the United States saw a notable spike in April 2026. Data from the CSP indicates that exports to the U.S. jumped by 56.9% to 59.3 million euros, while imports from the U.S. doubled to 55.6 million euros. These shifts were largely tied to increased traffic in mineral products, which accounted for a 29.4 million euro rise in exports and a 30.9 million euro rise in imports.
Trade with Eastern neighbors showed a divergent pattern. Exports to the Russian Federation grew by 10.6%, reaching 89.4 million euros, driven primarily by a 92.4% surge in food industry products, specifically spirits. In contrast, trade with Ukraine and Belarus declined. Exports to Ukraine fell by 21.1%, while trade with Belarus saw a 22.4% drop in exports and a 77.6% collapse in imports, heavily influenced by a reduction in animal and vegetable oil shipments.
Pro Tip: Understanding “Actual Prices”
When analyzing these trade figures, it is vital to remember that the CSP reports data in “actual prices.” This means the statistics reflect the monetary value of goods in euros at the time of the transaction, rather than the physical volume or quantity of the goods. Inflation or changes in market pricing can influence these totals even if the physical amount of goods traded remains stable.
Frequently Asked Questions
Which countries are Latvia’s primary trading partners?
As of April 2026, Lithuania remains the top destination for Latvian exports (16.7%) and the largest source of imports (21.8%). Other key partners include Germany, Estonia, Poland, and Sweden.
Is the trade balance improving?
Yes, the trade balance showed improvement compared to April 2025. The share of exports in the total foreign trade volume increased from 46.4% to 47%.
How does the entry of Bulgaria into the Eurozone impact these figures?
Starting January 1, 2026, Bulgaria joined the Eurozone. This change is reflected in the cumulative trade data for the first four months of 2026, shifting how Eurozone trade statistics are aggregated.
For deeper insights into specific commodity groups or to track monthly trade fluctuations, explore the official Central Statistical Bureau of Latvia portal. Want to stay updated on economic trends? Subscribe to our newsletter for monthly snapshots of Latvia’s industrial and trade performance.