Latvia’s trade deficit widened to EUR 334.2 million in February 2026 from EUR 121.3 million in the same month a year earlier. Exports fell 5% year-on-year to EUR 1,550.8 million, weighed down by lower sales of wood and wood products, charcoal (-8.3%), mineral fuels and refined petroleum products (-6.8%), and plastics and related products (-11.5%). Among major partners, exports to CIS countries declined 2.8%. Meanwhile, imports rose 7.5% to EUR 1,885 million, driven by higher purchases of mineral fuels, oil and refined petroleum products (42.1%), electrical machinery and equipment (17.3%), mechanical appliances (2.5%), and pharmaceutical products (20%). Imports increased across EU countries (83.4%), CIS countries (0.7%), and other markets (15.9%). Over the first two months of the year, the country’s trade deficit rose to EUR 505.5 million, up from EUR 340.2 million in the same period last year.