Flag Germany / Latvia Flag

Exports Flag → Flag  (2018): $1.97B, Rnk 57 / 216

Top Product Flag → Flag (2018): $273M, Cars

Exports Flag → Flag (2018): $1.09B, Rnk 5 / 191

Top Product Flag → Flag (2018): $65.4M, Broadcasting Equipment

Economic Complexity of Flag (2018): ECI 1.9, Rnk 4 / 137

Economic Complexity of Flag (2018): ECI 0.84, Rnk 36 / 137

Germany-Latvia: In 2018, Germany exported $1.97B to Latvia. The main products exported from Germany to Latvia were Cars ($273M), Vehicle Parts ($54.4M), and Delivery Trucks ($49.7M). During the last 23 years the exports of Germany to Latvia have increased at an annualized rate of 8.64%, from $293M in 1995 to $1.97B in 2018. In 2016, Germany exported services to Latvia worth $110M, with Transportation ($65.3M), Other business services ($23.2M), and Computer and information services ($7.75M) being the largest in terms of value.

Latvia-Germany: In 2018, Latvia exported $1.09B to Germany. The main products exported from Latvia to Germany were Broadcasting Equipment ($65.4M), Plywood ($55.5M), and Vehicle Parts ($47.2M). During the last 23 years the exports of Latvia to Germany have increased at an annualized rate of 5.02%, from $352M in 1995 to $1.09B in 2018. In 2016, Latvia exported services to Germany worth $352M, with Transportation ($164M), Travel ($89.6M), and Other business services ($52M) being the largest in terms of value.

Comparison: In 2018, Germany ranked 4 in the Economic Complexity Index (ECI 1.9), and 2 in total exports ($1.5T). That same year, Latvia ranked 36 in the Economic Complexity Index (ECI 0.84), and 78 in total exports ($15.8B). N/A

Bilateral Trade by Products

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Depth
Value

In 2018, Germany exported $1.97B to Latvia. The main products exported from Germany to Latvia were Cars ($273M), Vehicle Parts ($54.4M), and Delivery Trucks ($49.7M). During the last 23 years the exports of Germany to Latvia have increased at an annualized rate of 8.64%, from $293M in 1995 to $1.97B in 2018.

In 2018, Latvia exported $1.09B to Germany. The main products exported from Latvia to Germany were Broadcasting Equipment ($65.4M), Plywood ($55.5M), and Vehicle Parts ($47.2M). During the last 23 years the exports of Latvia to Germany have increased at an annualized rate of 5.02%, from $352M in 1995 to $1.09B in 2018.

Market Competitiveness

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Measure

Germany
Top Destination
: United States, $132B

Latvia
Top Destination
: Lithuania, $2.25B

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

In 2018, countries that imported more from Germany than Latvia were United States ($132B), France ($121B), and China ($109B).

In 2018, no countries were registered that imported more from Latvia than from Germany.

Comparative Advantage Germany - Latvia

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Depth

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

During 2018, Germany had a large net trade with Latvia in the exports of Machines ($520M), Transportation ($482M), and Chemical Products ($185M).

During 2018, Latvia had a large net trade with Germany in the exports of Wood Products ($226M), Machines ($187M), and Transportation ($95.5M).

Trade Forecasts

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This section shows a forecast for total trade between Germany and Latvia. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.

Explore Forecasts

Bilateral Service Trade

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In 2016, Germany exported services to Latvia worth $110M, with Transportation ($65.3M), Other business services ($23.2M), and Computer and information services ($7.75M) being the largest in terms of value.

In 2016, Latvia exported services to Germany worth $352M, with Transportation ($164M), Travel ($89.6M), and Other business services ($52M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to red.  This mean that the more blue a dot/product is, the more Germany has comparative advantage over Latvia. Similarly, the more red a dot/product is, the more Latvia has comparative advantage over Germany.