Latvia

Latvia ranked No. 99 in total trade value through May with a total of $333.74 million. Exports totaled $119.99 million and Imports totaled $213.75 million, a deficit of $93.77 million.

U.S. trade with Latvia rose to $273.62 million through May

Latvia’s trade with the United States rose to $273.62 million through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 9.58 percent below its total trade during the same time period last year. U.S. exports to Latvia decreased 9.36 percent while U.S. imports from Latvia fell 9.7 percent. The U.S. deficit with Latvia was $79.84 million.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Huntsville International Airport, Ala.; No. 2 Port of Newark; No. 3 Port of Charleston; No. 4 Port of Baltimore, Md.; and No. 5 Hartsfield-Jackson Atlanta International Airport. During the same period the previous year, the top five were No. 1 Dallas-Fort Worth International Airport, Texas; No. 2 Hartsfield-Jackson Atlanta International Airport; No. 3 Port of Newark; No. 4 Port of Baltimore, Md. and No. 5 Port of Charleston. In the current time period, the top five accounted for 46.9 percent of Latvia’s U.S. trade.

Among those top five:

  • Trade with No. 1 Huntsville International Airport, Ala. rose 66061 percent to $56.86 million.
    There were no exports. Imports totaled $56.86 million.
  • Trade with No. 2 Port of Newark fell 23.33 percent to $35.47 million.
    Exports fell 67.25 percent to $4.63 million. Imports fell 4.03 percent to $30.84 million.
  • Trade with No. 3 Port of Charleston fell 2.09 percent to $24.22 million.
    Exports rose 3.38 percent to $21.55 million. Imports fell 31.46 percent to $2.66 million.
  • Trade with No. 4 Port of Baltimore, Md. fell 15 percent to $21.43 million.
    Exports fell 38.82 percent to $579,518. Imports fell 14.07 percent to $20.85 million.
  • Trade with No. 5 Hartsfield-Jackson Atlanta International Airport fell 62.69 percent to $18.56 million.
    Exports fell 31.74 percent to $18.21 million. Imports fell 98.51 percent to $344,069.

Latvia ranked No. 99 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 89.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Latvia by value through May were the categories of Rum, gin, vodka, other liquors; Civilian aircraft, parts; Returned exports, without change; Cell phones, related equipment; and Passenger vehicles, respectively. They accounted for 42.61 percent of total exports to Latvia.

The value of the top five categories of U.S. imports from Latvia –– Misc. aircraft parts; Rum, gin, vodka, other liquors; Cell phones, related equipment; Glass fibers, glass yarn; and Peat –– accounted for 65.41 percent of all inbound shipments.

Looking more closely at U.S. exports to Latvia:

  • Rum, gin, vodka, other liquors rose 18.56 percent compared to last year to $22.33 million.
  • Civilian aircraft, parts fell 38.44 percent compared to last year to $20.21 million.
  • Returned exports, without change fell 29.09 percent compared to last year to $3.54 million.
  • Cell phones, related equipment fell 78.09 percent compared to last year to $2.76 million.
  • Passenger vehicles fell 44.92 percent compared to last year to $2.28 million.

Looking more closely at U.S. imports from Latvia:

  • Misc. aircraft parts fell 36.28 percent compared to last year to $68.14 million.
  • Rum, gin, vodka, other liquors fell 7.06 percent compared to last year to $49.29 million.
  • Cell phones, related equipment fell 17.38 percent compared to last year to $11.25 million.
  • Glass fibers, glass yarn fell 16.64 percent compared to last year to $5.83 million.
  • Peat fell 19.4 percent compared to last year to $5.3 million.

In the latest annual figures available, Latvia recorded $1.36 billion in trade with the United States. Total U.S. exports to Latvia were $ 541.5 million and imports from Latvia were $814.88 million. The U.S. deficit with Latvia was $273.38 million.