2022
Flag  
GDP
$219BCURRENT US$
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2012-2022
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GDP GROWTH
-9.49%CURRENT US$
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2022
Flag
 GDP
$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH
46.1%CURRENT US$
Rnk 74 / 186
2022
Flag
GDP PC 
$20,732CURRENT US$
Rnk 50 / 186
2012-2022
Flag
GDP PC GROWTH
-5.39%CURRENT US$
Rnk 154 / 186
2022
Flag
GDP PC
$21,851CURRENT US$
Rnk 47 / 186
2012-2022
Flag
GDP PC GROWTH
57.8%CURRENT US$
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About

Greece-Latvia Trade: In 2022, Greece exported $52.1M to Latvia. The main products that Greece exported to Latvia were Binoculars and Telescopes ($8.02M), LCDs ($6.9M), and Pitted Fruits ($4.6M). Over the past 5 years the exports of Greece to Latvia have increased at an annualized rate of 18.8%, from $22M in 2017 to $52.1M in 2022.

In 2020, Greece exported services to Latvia worth $23.8M, with Transportation ($16.1M), Construction services ($3.31M), and Travel ($2.86M) being the largest in terms of value.

Latvia-Greece Trade: In 2022, Latvia exported $51.4M to Greece. The main products that Latvia exported to Greece were Hard Liquor ($8.06M), Office Machine Parts ($7.08M), and Integrated Circuits ($3.8M). Over the past 5 years the exports of Latvia to Greece have increased at an annualized rate of 20.3%,  from $20.4M in 2017 to $51.4M in 2022.

In 2020, Latvia exported services to Greece worth $17.1M, with Transportation ($14.8M), Computer and information services ($1.14M), and Other business services ($1.14M) being the largest in terms of value.

Comparison In 2022,  Greece ranked 50 in the Economic Complexity Index (ECI 0.33),  and 57 in total exports ($55.7B). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Greece exported $52.1M to Latvia. The main products exported from Greece to Latvia were Binoculars and Telescopes ($8.02M), LCDs ($6.9M), and Pitted Fruits ($4.6M). During the last 5 years the exports of Greece to Latvia have increased at an annualized rate of 18.8%, from $22M in 2017 to $52.1M in 2022.

In 2017, Latvia exported $51.4M to Greece. The main products exported from Latvia to Greece were Hard Liquor ($8.06M), Office Machine Parts ($7.08M), and Integrated Circuits ($3.8M). During the last 5 years the exports of Latvia to Greece have increased at an annualized rate of 20.3%, from $20.4M in 2022 to $51.4M in 2017.

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

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

Latest Data

Trade between Greece (Flag) and Latvia (Flag)

Greece Exports

Latvia Exports

Market Competitiveness

Color
Greece
Top Destination
Italy$5.82B
Latvia
Top Destination
Lithuania$4.09B

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

In 2022, countries that imported more from Greece than Latvia included Italy ($5.82B), Bulgaria ($3.62B), and Cyprus ($2.92B).

In 2022, countries that imported more from Latvia than Greece included Lithuania ($4.09B), Estonia ($2.26B), and Russia ($1.26B).

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

Comparative Advantage Greece - Latvia

Flow
Scale

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

During 2022, Greece had a large net trade with Latvia in the exports of Instruments ($15M), Vegetable Products ($12.5M), and Machines ($5.17M).

During 2017, Latvia had a large net trade with Greece in the exports of Machines ($18.4M), Foodstuffs ($11.5M), and Chemical Products ($7.08M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Greece Latvia+$2.54MPackaged Medicaments
Top Product Potential Latvia Greece+$3.11MPackaged Medicaments

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, Greece exported services to Latvia worth $23.8M, with Transportation ($16.1M), Construction services ($3.31M), and Travel ($2.86M) being the largest in terms of value.

In 2020, Latvia exported services to Greece worth $17.1M, with Transportation ($14.8M), Computer and information services ($1.14M), and Other business services ($1.14M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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