Summary
- Latvia → Russia
- $1.1billion
- Russia → Latvia
- $414million
- Latvia’s balance
- $672million
Balance
Latvia’s trade balance with Russia
Trade between Latvia and Russia grew 2.1-fold since 1995
USD billions (current). Latvia’s exports and imports; bars: its balance (green surplus, red deficit).
- Exports 1.1
- Imports 0.4
- Balance +0.7
Source: CEPII BACI
Show the numbers
| Year | Exports | Imports | Trade balance |
|---|---|---|---|
| 1995 | $320 million | $395 million | -$74 million |
| 1996 | $320 million | $630 million | -$309 million |
| 1997 | $388 million | $669 million | -$281 million |
| 1998 | $255 million | $497 million | -$242 million |
| 1999 | $131 million | $491 million | -$360 million |
| 2000 | $87 million | $583 million | -$495 million |
| 2001 | $120 million | $450 million | -$330 million |
| 2002 | $149 million | $388 million | -$239 million |
| 2003 | $177 million | $569 million | -$392 million |
| 2004 | $256 million | $794 million | -$538 million |
| 2005 | $430 million | $1.1 billion | -$646 million |
| 2006 | $524 million | $929 million | -$405 million |
| 2007 | $731 million | $2 billion | -$1.3 billion |
| 2008 | $832 million | $1.9 billion | -$1.1 billion |
| 2009 | $588 million | $1.3 billion | -$733 million |
| 2010 | $962 million | $1.4 billion | -$415 million |
| 2011 | $1.1 billion | $1.8 billion | -$702 million |
| 2012 | $1.2 billion | $2.1 billion | -$870 million |
| 2013 | $1.4 billion | $1.9 billion | -$485 million |
| 2014 | $1.2 billion | $2 billion | -$799 million |
| 2015 | $732 million | $1.6 billion | -$850 million |
| 2016 | $712 million | $1.3 billion | -$618 million |
| 2017 | $978 million | $1.7 billion | -$701 million |
| 2018 | $1 billion | $2 billion | -$989 million |
| 2019 | $906 million | $1.9 billion | -$971 million |
| 2020 | $898 million | $1.3 billion | -$428 million |
| 2021 | $1 billion | $2.2 billion | -$1.2 billion |
| 2022 | $1.3 billion | $1.9 billion | -$667 million |
| 2023 | $1.2 billion | $656 million | $567 million |
| 2024 | $1.1 billion | $414 million | $672 million |
What they sell each other
What Latvia sells to Russia
The top 10 headings in 2024, with their share of the total.
What Russia sells to Latvia
The top 10 headings in 2024, with their share of the total.
How it travels
Latvia and Russia traded $1.5 billion in 2024 (both directions together). They trade mostly over land: 86% of the value travels by truck, rail or pipeline.
Split by transport mode
Mode estimated from value per kilo and geography; both directions together.
How much each matters to the other
Russia was Latvia’s 8th largest trading partner (4% of its trade), and Latvia was Russia’s 36th (0.3%).
- Russia in Latvia’s trade
- 3.7%
- Russia’s rank among Latvia’s partners
- 8th
- Latvia in Russia’s trade
- 0.3%
- Latvia’s rank among Russia’s partners
- 36th
Compare with
Other partners of Latvia
Other partners of Russia
Sources and methodology
Sources and licenses
- CEPII BACI · Licence Ouverte Etalab 2.0
- World Bank, Global Shipping Traffic Density · CC BY 4.0 (route network derived by this site)
- World Port Index (NGA) · Public domain (US Government work)
- Natural Earth · Public domain
Methodology
Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. The sea route comes from our own network derived from World Bank shipping density (not from nautical charts), between one main reference port per country (World Port Index); days are the distance at 14 and 18 knots, without port calls or waiting. Data up to 2024.