Trading Partner Portal: Latvia
Overview
Trade Overview
Latvia is a country in the Baltic region of Northern Europe and is a member of the European Union. As of 2024, Latvia has a population of 1.86 million and a GDP of $43.52 billion.
U.S. – Latvia Trade
Two-way trade between the U.S. and Latvia in 2025 was $1.15 billion, with U.S. exports to Latvia totaling $544 million. Over $124 million of which was transportation equipment, followed by oil and gas ($75 million), petroleum & coal products ($60 million), computer & electronics products ($55 million), and non-electrical machinery ($43 million).
The U.S. imported $610 million worth of products from Latvia in 2025. Wood products made up $135 million of the total, followed by non-electrical machinery ($92 million), computer and electronic products ($70 million), beverage and tobacco products ($68 million), and electrical equipment, appliances and components ($37 million).
Trade in services between the U.S. and Latvia in 2025 totaled $514 million, with exports from the U.S. to Latvia totaling $364 million. Top exports were maintenance & repair services, travel, financial services, telecommunications, computer & information services, and other business services.
The total of service imports from Latvia to the U.S. was $150 million, with top imports being travel, other business services, telecommunications, computer &information services, transport services, and government goods and services not reported elsewhere.
California – Latvia Trade
California exported $57 million worth of products in 2025, a 30% decrease when compared to 2024 exports. Top exports were agricultural products ($17 million), computer & electronic products ($15 million), chemicals ($7 million), non-electrical machinery ($4 million), and transportation equipment ($3 million).
California imported $41 million worth of products from Latvia in 2025. Of that total, $9 million was in beverage and tobacco products, followed by minerals and ores ($5 million), processed foods ($5 million), goods returned ($4 million), and computer and electronic products ($4 million).
FDI – Latvia
In 2024, U.S. foreign direct investment into Latvia totaled $58 million, unchanged from the year prior (BEA).
Trade Agreements
Trade Agreements and Issues
Three Seas Initiative (3SI)
The Three Seas Initiative (3SI), getting its name from the three seas that border the region, was launched in 2015 by Croatian President Kolinda Grabar-Kitarović and Polish President Andrzej Duda to promote interconnectivity on energy, infrastructure, and digitization projects in Central and Eastern Europe. The region has a total population of 10 million and a combined GDP of about $1.7 trillion, and has emerged as a significant driver of European economic growth. (Atlantic Council)
The U.S. has committed up to $1 billion to the 3SI, adding momentum to the project and its investment fund, helping to attract international private capital to the region. The initiative has been endorsed diplomatically by the United States, Germany, and the European Union, among others.
Currently, the Three Seas Initiative (3SI) includes:
- 13 participating states (only EU members): Austria, Bulgaria, Croatia, Czech Republic, Estonia, Greece, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia, and Hungary.
- 6 strategic partners – 2022: the United States, Germany, and the European Commission; 2024: Japan; 2025: Turkey and Spain.
- 4 associated participating states – 2023: Ukraine and Moldova; 2025: Albania and Montenegro.
Pompeo Pledges $1 Billion in US Support for European Energy Initiative
The Hill, February 15, 2020
Key Country Contacts
Resources
CalChamber Resources
Business
Business
Cultural
Cultural/Educational
- American Latvian Association
(ALA) is the main representative organization for the Latvian American community. Through 100 member organizations, churches, clubs and some 4,000 individual members, we represent over 90,000 people of Latvian descent living in the United States. - International Universities/Programs
- Sister Cities International