Foreign trade as a share of GDP rose 9.71% to 130% in Latvia in 2021, according to the National Statistical Office.
Historically, foreign trade as a share of GDP in Latvia reached an all time high of 153% in 1992 and an all time low of 60.7% in 1991. When compared to Latvia's main peers, foreign trade as a share of GDP in Belarus amounted to 139%, 157% in Estonia, 156% in Lithuania and 52.2% in Russia in 2021.
Latvia has been ranked 27th within the group of 152 countries we follow in terms of foreign trade as a share of GDP, 1 place above the position seen 10 years ago.
| Foreign Trade (As % of GDP) | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| Belarus | % | 116% | 125% | 133% | 139% | 131% | ||||||||||||||||
| China | % | 39.5% | 36.9% | 37.6% | 37.6% | 35.9% | ||||||||||||||||
| Estonia | % | 151% | 150% | 148% | 146% | 144% | ||||||||||||||||
| Finland | % | 71.4% | 70.9% | 75.1% | 78.2% | 79.6% | ||||||||||||||||
| Germany | % | 86.2% | 84.8% | 87.2% | 88.5% | 87.7% | ||||||||||||||||
| Japan | % | 35.4% | 31.3% | 34.4% | 36.6% | 35.2% | ||||||||||||||||
| Latvia | % | 122% | 119% | 124% | 124% | 120% | ||||||||||||||||
| Lithuania | % | 139% | 134% | 145% | 149% | 149% | ||||||||||||||||
| Poland | % | 92.8% | 97.5% | 101% | 103% | 103% | ||||||||||||||||
| Russia | % | 49.4% | 46.5% | 46.9% | 51.6% | 49.2% | ||||||||||||||||
| USA | % | 27.8% | 26.6% | 27.3% | 27.6% | 26.5% | ||||||||||||||||
| Ukraine | % | 108% | 106% | 104% | 99.2% | 90.5% |
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