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Pricing

2022
Flag → Flag
Exports $1.1BRnk 124 / 211
2022
Flag → Flag
Top Product $130MBroadcasting Equipment
2022
Flag → Flag
Exports $240MRnk 21 / 194
2022
Flag → Flag
Top Product $60.4MRough Wood
2022
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Economic Complexity (ECI) ECI 1.12Rnk 22 / 133
2022
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GDP$18TCURRENT US$
Rnk 2 / 186
2012-2022
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GDP GROWTH111%CURRENT US$
Rnk 11 / 186
2022
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 GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
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GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
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GDP PC $12,720CURRENT US$
Rnk 67 / 186
2012-2022
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GDP PC GROWTH102%CURRENT US$
Rnk 8 / 186
2022
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GDP PC$21,851CURRENT US$
Rnk 47 / 186
2012-2022
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GDP PC GROWTH57.8%CURRENT US$
Rnk 30 / 186

About

China-Latvia Trade: In 2022, China exported $1.1B to Latvia. The main products that China exported to Latvia were Broadcasting Equipment ($130M), Other Plastic Products ($63.7M), and Rubber Tires ($46.6M). Over the past 5 years the exports of China to Latvia have increased at an annualized rate of 5.01%, from $865M in 2017 to $1.1B in 2022.

In 2022, China did not export any services to Latvia.

Latvia-China Trade: In 2022, Latvia exported $240M to China. The main products that Latvia exported to China were Rough Wood ($60.4M), Peat ($50.6M), and Other Measuring Instruments ($14.2M). Over the past 5 years the exports of Latvia to China have increased at an annualized rate of 2.13%,  from $175M in 2017 to $240M in 2022.

In 2020, Latvia exported services to China worth $46.8M, with Communications services ($40M), Other business services ($4.57M), and Travel ($1.14M) being the largest in terms of value.

Comparison In 2022,  China ranked 22 in the Economic Complexity Index (ECI 1.12),  and 1 in total exports ($3.73T). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Latest Trends

August, 2024

About

Overview In August 2024, China exported $68.9M and imported $23.6M from Latvia, resulting in a positive trade balance of $45.3M. Between August 2023 and August 2024 the exports of China have decreased by $-19M (-21.6%) from $87.9M to $68.9M, while imports increased by $1.06M (4.71%) from $22.5M to $23.6M.

Trade In August 2024, the top exports of China to Latvia were Telephones ($9.4M), Other Nitrogen Compounds ($5.58M), Other Electrical Machinery ($4.48M), Commodities not elsewhere specified ($3.47M), and Computers ($3.16M). In August 2024 the top imports of China from Latvia were Rough Wood ($10.5M), Peat ($5.02M), Scrap Copper ($3.24M), Telephones ($966k), and Motor vehicles; parts and accessories (8701... ($868k).

Origins In August 2024 the exports of China were mainly from Guangdong Province ($20.6M), Jiangsu Province ($11.1M), Zhejiang Province ($10.6M), Shandong Province ($4.92M), and Guizhou Province ($4.35M), while imports destinations were mainly Zhejiang Province ($5.13M), Shanghai Province ($4.57M), Fujian Province ($3.15M), Shandong Province ($3.01M), and Beijing ($2.78M).

Growth In August 2024, the decrease in China's year-by-year exports to Latvia was explained primarily by an decrease in product exports in Laboratory Reagents ($-18.1M or -95.8%), Other Plastic Products ($-2.63M or -69.4%), and Chemical Analysis Instruments ($-2.4M or -86.2%). In August 2024, the increase in China's year-by-year imports  from Latvia was explained primarily by an increase in product imports  in Scrap Copper ($2.17M or 203%), Peat ($803k or 19%), and Rough Wood ($779k or 8.02%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)$-19M(-21.6%)
IMPORT GROWTH (August 2023 - August 2024)$1.06M(4.71%)
MAIN EXPORTER (August 2024)Guangdong Province$20.6M

This section shows exports and imports data at subnational level for China. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of China over time.

To check Latvia and China trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Latvia and China Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, China exported $1.1B to Latvia. The main products exported from China to Latvia were Broadcasting Equipment ($130M), Other Plastic Products ($63.7M), and Rubber Tires ($46.6M). During the last 5 years the exports of China to Latvia have increased at an annualized rate of 5.01%, from $865M in 2017 to $1.1B in 2022.

In 2017, Latvia exported $240M to China. The main products exported from Latvia to China were Rough Wood ($60.4M), Peat ($50.6M), and Other Measuring Instruments ($14.2M). During the last 5 years the exports of Latvia to China have increased at an annualized rate of 2.13%, from $175M in 2022 to $240M in 2017.

Exports from China (Flag) to Latvia (Flag) (2022)

Exports from Latvia (Flag) to China (Flag) (2022)

Market Competitiveness

Color
China
Top DestinationUnited States$551B
Latvia
Top DestinationLithuania$4.09B

This map shows whether countries import more from China or Latvia. Each country is colored based on the difference in imports they receive from China and Latvia or the difference in the growth in imports.

In 2022, countries that imported more from China than Latvia included United States ($551B), Hong Kong ($276B), and Japan ($178B).

In 2022, countries that imported more from Latvia than China included Lithuania ($4.09B), Estonia ($2.26B), and Guam ($505k).

Difference in imports from Latvia (Flag) and China (Flag) (2022)

Comparative Advantage China - Latvia

Flow
Scale

This chart compares trade between China and Latvia by product, considering products traded by both, China and Latvia.

During 2022, China had a large net trade with Latvia in the exports of Machines ($525M), Plastics and Rubbers ($134M), and Chemical Products ($125M).

During 2017, Latvia had a large net trade with China in the exports of Wood Products ($75.3M), Mineral Products ($52M), and Metals ($29.9M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential China Latvia+$94.5MTelephones
Top Product Potential Latvia China+$20.8MSawn Wood

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2020, Latvia exported services to China worth $46.8M, with Communications services ($40M), Other business services ($4.57M), and Travel ($1.14M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Latvia (Flag) to China (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of China and Latvia. This means that a dot/product with the flag of China indicates it has a comparative advantage over Latvia. Similarly, a dot/product with the flag of Latvia indicates it has a comparative advantage over China.

Product Space of China (Flag) and Latvia (Flag) (2022)

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