Latvia had a favourable balance of trade last year when it exported $2.3 billion and imported $3.9 billion.

Name: Latvia had a favourable balance of trade last year when it exported $2.3 billion and imported $3.9 billion.
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A favourable balance of trade occurs when a country exports more than it imports. In this case, Latvia imported more ($3.9 billion) than it exported ($2.3 billion), resulting in an unfavourable balance of trade.

Latvia Had a Favourable Balance of Trade Last Year When