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Pricing

2022
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Exports $2.49BRnk 56 / 223
2022
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Top Product $314MCars
2022
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Exports $1.44BRnk 3 / 194
2022
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Top Product $76.5MCheese
2022
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Economic Complexity (ECI) ECI 1.75Rnk 3 / 124
2022
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GDP$4.07TCURRENT US$
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2012-2022
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GDP GROWTH15.5%CURRENT US$
Rnk 136 / 186
2022
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 GDP$41.2BCURRENT US$
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2012-2022
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GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
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GDP PC $48,432CURRENT US$
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2012-2022
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GDP PC GROWTH10.4%CURRENT US$
Rnk 115 / 186
2022
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GDP PC$21,851CURRENT US$
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2012-2022
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GDP PC GROWTH57.8%CURRENT US$
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About

Germany-Latvia In 2022, Germany exported $2.49B to Latvia. The main products that Germany exported to Latvia are Cars ($314M), Motor vehicles; parts and accessories (8701 to 8705) ($64.8M), and Trailers and semi-trailers, not mechanically propelled vehicles ($64.7M). During the last 27 years the exports of Germany to Latvia have increased at an annualized rate of 7.26%, from $375M in 1995 to $2.49B in 2022.

In 2020, Germany exported services to Latvia worth $106M, with Transportation ($57.1M), Other business services ($28.6M), and Computer and information services ($14.9M) being the largest in terms of value.

Latvia-Germany In 2022, Latvia exported $1.44B to Germany. The main products that Latvia exported to Germany were Cheese ($76.5M), Refined Petroleum ($69.3M), and Plywood ($67.1M). During the last 27 years the exports of Latvia to Germany have increased at an annualized rate of 6.46%, from $266M in 1995 to $1.44B in 2022.

In 2020, Latvia exported services to Germany worth $543M, with Transportation ($211M), Other business services ($186M), and Construction services ($62.8M) being the largest in terms of value.

Comparison In 2022,  Germany ranked 3 in the Economic Complexity Index (ECI 1.75),  and 3 in total exports ($1.6T). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Latest Trends

January, 2024

About

Overview In January 2024, Germany exported €202M and imported €94.9M from Latvia, resulting in a positive trade balance of €107M. Between January 2023 and January 2024 the exports of Germany have increased by €2.7M (1.35%) from €199M to €202M, while imports increased by €11.8M (14.1%) from €83.2M to €94.9M.

Trade In January 2024, the top exports of Germany to Latvia were Motor cars and motor caravans (€26.5M), Estimations for non-response (€11.3M), Agricultural machinery (incl. tractors) (€9.19M), Machinery for electricity production, distribution (€8.63M), and Other machinery (€7.64M). In January 2024 the top imports of Germany from Latvia were Estimations for non-response (€9.87M), Estimations for exemptions (€7.75M), Plywood, particle board, fibreboard, veneer sheets (€4.26M), Articles of wood (excl. funiture) (€3.91M), and Pharmaceutical products (€3.6M).

Origins In January 2024 the exports of Germany were mainly from North Rhine-Westphalia (€31.8M), Bavaria (€27.6M), Baden-Württemberg (€21.8M), Lower Saxony (€20.2M), and Hesse (€6.73M), while imports destinations were mainly Bavaria (€17.1M), North Rhine-Westphalia (€15.8M), Lower Saxony (€14.3M), Hamburg (€10.2M), and Baden-Württemberg (€6.53M).

Growth In January 2024, the increase in Germany's year-by-year exports to Latvia was explained primarily by an increase in product exports in Motor cars and motor caravans (€12M or 82.5%), Estimations for non-response (€11.2M or 18k%), and Agricultural machinery (incl. tractors) (€7.68M or 507%). In January 2024, the increase in Germany's year-by-year imports  from Latvia was explained primarily by an increase in product imports  in Estimations for non-response (€5.89M or 148%), Bearings,gearings, gear wheels and drive elements (€1.26M or 924%), and Plywood, particle board, fibreboard, veneer sheets (€1.23M or 40.6%).

Latest Trade

Flow
Time Scale
Value
EXPORT GROWTH (January 2023 - January 2024)€2.7M(1.35%)
IMPORT GROWTH (January 2023 - January 2024)€11.8M(14.1%)
MAIN EXPORTER (January 2024)North Rhine-Westphalia€31.8M

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

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

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Germany exported $2.49B to Latvia. The main products exported from Germany to Latvia were Cars ($314M), Motor vehicles; parts and accessories (8701 to 8705) ($64.8M), and Trailers and semi-trailers, not mechanically propelled vehicles ($64.7M). During the last 27 years the exports of Germany to Latvia have increased at an annualized rate of 7.26%, from $375M in 1995 to $2.49B in 2022.

In 2022, Latvia exported $1.44B to Germany. The main products exported from Latvia to Germany were Cheese ($76.5M), Refined Petroleum ($69.3M), and Plywood ($67.1M). During the last 27 years the exports of Latvia to Germany have increased at an annualized rate of 6.46%, from $266M in 1995 to $1.44B in 2022.

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

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

Market Competitiveness

Color
Germany
Top DestinationUnited States$153B
Latvia
Top DestinationLithuania$4.09B

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 2021, countries that imported more from Germany than Latvia were United States ($153B), France ($120B), and China ($109B).

In 2019, no countries were registered that imported more from Latvia than from Germany.

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

Comparative Advantage Germany - Latvia

Flow
Scale

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

During 2022, Germany had a large net trade with Latvia in the exports of Machines ($611M), Transportation ($531M), and Chemical Products ($260M).

During 2022, Latvia had a large net trade with Germany in the exports of Wood Products ($281M), Machines ($171M), and Chemical Products ($124M).

Service Trade

Bilateral Service Trade

In 2020, Germany exported services to Latvia worth $106M, with Transportation ($57.1M), Other business services ($28.6M), and Computer and information services ($14.9M) being the largest in terms of value.

In 2020, Latvia exported services to Germany worth $543M, with Transportation ($211M), Other business services ($186M), and Construction services ($62.8M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Economic Complexity

Competitive Landscape

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

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

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