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2022
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Exports $329MRnk 80 / 218
2022
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Top Product $20MHard Liquor
2022
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Exports $386MRnk 15 / 194
2022
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Top Product $118MWheat
2022
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Economic Complexity (ECI) ECI 0.81Rnk 33 / 133
2022
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GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
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GDP GROWTH5.49%CURRENT US$
Rnk 154 / 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 $29,350CURRENT US$
Rnk 40 / 186
2012-2022
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GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 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

Spain-Latvia In 2022, Spain exported $329M to Latvia. The main products that Spain exported to Latvia are Hard Liquor ($20M), Wine ($19.1M), and Citrus ($10.4M). During the last 27 years the exports of Spain to Latvia have increased at an annualized rate of 13.3%, from $11.2M in 1995 to $329M in 2022.

In 2007, Spain exported services to Latvia worth $180M, with Services not allocated ($180M) being the largest in terms of value.

Latvia-Spain In 2022, Latvia exported $386M to Spain. The main products that Latvia exported to Spain were Wheat ($118M), Corn ($19.7M), and Dried Legumes ($16.9M). During the last 27 years the exports of Latvia to Spain have increased at an annualized rate of 17.1%, from $5.39M in 1995 to $386M in 2022.

In 2020, Latvia exported services to Spain worth $56M, with Transportation ($44.5M), Computer and information services ($4.57M), and Other business services ($4.57M) being the largest in terms of value.

Comparison In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.81),  and 20 in total exports ($394B). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Latest Trends

February, 2024

About

Overview In February 2024, Spain exported €28.1M and imported €35.1M from Latvia, resulting in a negative trade balance of €6.99M. Between February 2023 and February 2024 the exports of Spain have increased by €1.49M (5.6%) from €26.6M to €28.1M, while imports increased by €19.2M (120%) from €15.9M to €35.1M.

Trade In February 2024, the top exports of Spain to Latvia were Wine (€1.51M), Hard Liquor (€1.45M), Citrus (€1.32M), Tomatoes (€788k), and Other Plastic Products (€651k). In February 2024 the top imports of Spain from Latvia were Corn (€9.37M), Special purpose motor vehicles (€2.14M), Animal Food (€1.83M), Dried Legumes (€1.54M), and Starch Residue (€1.38M).

Origins In February 2024 the exports of Spain were mainly from Barcelona (€8.92M), Lleida (€2.12M), Madrid (€2.06M), Valencia (€1.88M), and A Coruña (€1.46M), while imports destinations were mainly Barcelona (€9.4M), Cantabria (Santander) (€6.53M), Murcia (€5.54M), Lleida (€2.69M), and A Coruña (€2.03M).

Growth In February 2024, the increase in Spain's year-by-year exports to Latvia was explained primarily by an increase in product exports in Other Plastic Products (€605k or 1.32k%), Blank Audio Media (€362k or 7.61k%), and Wine (€324k or 27.3%). In February 2024, the increase in Spain's year-by-year imports  from Latvia was explained primarily by an increase in product imports  in Animal Food (€1.83M or 35.4k%), Special purpose motor vehicles (€1.05M or 96.1%), and Fish oil (€575k or 659%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (February 2023 - February 2024)€1.49M(5.6%)
IMPORT GROWTH (February 2023 - February 2024)€19.2M(120%)
MAIN EXPORTER (February 2024)Barcelona€8.92M

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

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

For full datasets download visit Bulk Download page.

Explore Latvia and Spain Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Spain exported $329M to Latvia. The main products exported from Spain to Latvia were Hard Liquor ($20M), Wine ($19.1M), and Citrus ($10.4M). During the last 27 years the exports of Spain to Latvia have increased at an annualized rate of 13.3%, from $11.2M in 1995 to $329M in 2022.

In 2022, Latvia exported $386M to Spain. The main products exported from Latvia to Spain were Wheat ($118M), Corn ($19.7M), and Dried Legumes ($16.9M). During the last 27 years the exports of Latvia to Spain have increased at an annualized rate of 17.1%, from $5.39M in 1995 to $386M in 2022.

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

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

Market Competitiveness

Color
Spain
Top DestinationFrance$65.2B
Latvia
Top DestinationLithuania$4.09B

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

In 2021, countries that imported more from Spain than Latvia were France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

In 2021, countries that imported more from Latvia than Spain were Lithuania ($4.09B), Estonia ($2.26B), and Nigeria ($512M).

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

Comparative Advantage Spain - Latvia

Flow
Scale

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

During 2022, Spain had a large net trade with Latvia in the exports of Foodstuffs ($66.6M), Machines ($51.4M), and Vegetable Products ($49.1M).

During 2022, Latvia had a large net trade with Spain in the exports of Vegetable Products ($196M), Wood Products ($35.3M), and Foodstuffs ($27.4M).

Service Trade

Bilateral Service Trade

Esp Year

In 2007, Spain exported services to Latvia worth $180M, with Services not allocated ($180M) being the largest in terms of value.

In 2020, Latvia exported services to Spain worth $56M, with Transportation ($44.5M), Computer and information services ($4.57M), and Other business services ($4.57M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Spain (Flag) to Latvia (Flag) (2007)

Services Exports from Latvia (Flag) to Spain (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 Spain has comparative advantage over Latvia. Similarly, the more yellow a dot/product is, the more Latvia has comparative advantage over Spain.

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

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