New 50% OFF discount for academic accounts !
New 2022 ECI Rankings !
New Company Reports !
New Product Data Download Page !
Sign In
Pricing

2022
Flag → Flag
Exports $782MRnk 72 / 221
2022
Flag → Flag
Top Product $78.7MWine
2022
Flag → Flag
Exports $336MRnk 17 / 194
2022
Flag → Flag
Top Product $31.7MFuel Wood
2022
Flag
Economic Complexity (ECI) ECI 1.24Rnk 18 / 124
2022
Flag  
GDP$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
Flag
GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
Flag
 GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
Flag
GDP PC $34,158CURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186
2022
Flag
GDP PC$21,851CURRENT US$
Rnk 47 / 186
2012-2022
Flag
GDP PC GROWTH57.8%CURRENT US$
Rnk 30 / 186

About

Italy-Latvia In 2022, Italy exported $782M to Latvia. The main products that Italy exported to Latvia are Wine ($78.7M), Vermouth ($25.8M), and Hard Liquor ($18.2M). During the last 27 years the exports of Italy to Latvia have increased at an annualized rate of 10.3%, from $55M in 1995 to $782M in 2022.

In 2020, Italy exported services to Latvia worth $50.3M, with Travel ($21.8M), Transportation ($11.9M), and Other business services ($10.4M) being the largest in terms of value.

Latvia-Italy In 2022, Latvia exported $336M to Italy. The main products that Latvia exported to Italy were Fuel Wood ($31.7M), Peat ($29.5M), and Industrial Fatty Acids, Oils and Alcohols ($22.5M). During the last 27 years the exports of Latvia to Italy have increased at an annualized rate of 9.96%, from $25.9M in 1995 to $336M in 2022.

In 2020, Latvia exported services to Italy worth $89.1M, with Transportation ($68.5M), Computer and information services ($9.14M), and Other business services ($6.85M) being the largest in terms of value.

Comparison In 2022,  Italy ranked 18 in the Economic Complexity Index (ECI 1.24),  and 7 in total exports ($634B). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Latest Trends

December, 2023

About

Overview In December 2023, Italy exported €25.3M and imported €13.4M from Latvia, resulting in a positive trade balance of €11.9M. Between December 2022 and December 2023 the exports of Italy have increased by €2.03M (8.73%) from €23.3M to €25.3M, while imports increased by €2.71M (25.2%) from €10.7M to €13.4M.

Trade In December 2023, the top exports of Italy to Latvia were Wine (€4.17M), Hard Liquor (€1.9M), Vermouth (€1.78M), Telephones (€1.54M), and Combustion Engines (€1.33M). In December 2023 the top imports of Italy from Latvia were Wood Carpentry (€2.44M), Plywood (€2.04M), Peat (€1.71M), Motor vehicles; parts and accessories (8701... (€1.61M), and Brochures (€1.23M).

Growth In December 2023, the increase in Italy's year-by-year exports to Latvia was explained primarily by an increase in product exports in Vermouth (€1.52M or 571%), Wine (€978k or 30.6%), and Baked Goods (€187k or 89%). In December 2023, the increase in Italy's year-by-year imports  from Latvia was explained primarily by an increase in product imports  in Other Mineral (€594k or 261%), Cement (€68.7k or 259%), and Non-Iron and Steel Slag, Ash and... (€43.4k or 80.3%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (December 2022 - December 2023)€2.03M(8.73%)
IMPORT GROWTH (December 2022 - December 2023)€2.71M(25.2%)

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

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

For full datasets download visit Bulk Download page.

Explore Latvia and Italy Data

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Italy exported $782M to Latvia. The main products exported from Italy to Latvia were Wine ($78.7M), Vermouth ($25.8M), and Hard Liquor ($18.2M). During the last 27 years the exports of Italy to Latvia have increased at an annualized rate of 10.3%, from $55M in 1995 to $782M in 2022.

In 2022, Latvia exported $336M to Italy. The main products exported from Latvia to Italy were Fuel Wood ($31.7M), Peat ($29.5M), and Industrial Fatty Acids, Oils and Alcohols ($22.5M). During the last 27 years the exports of Latvia to Italy have increased at an annualized rate of 9.96%, from $25.9M in 1995 to $336M in 2022.

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

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

Market Competitiveness

Color
Italy
Top DestinationGermany$78.5B
Latvia
Top DestinationLithuania$4.09B

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

In 2021, countries that imported more from Italy than Latvia were Germany ($78.5B), United States ($68.2B), and France ($63.8B).

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

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

Comparative Advantage Italy - Latvia

Flow
Scale

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

During 2022, Italy had a large net trade with Latvia in the exports of Machines ($171M), Foodstuffs ($167M), and Textiles ($96.9M).

During 2022, Latvia had a large net trade with Italy in the exports of Wood Products ($97.1M), Chemical Products ($39.6M), and Mineral Products ($34.9M).

Service Trade

Bilateral Service Trade

In 2020, Italy exported services to Latvia worth $50.3M, with Travel ($21.8M), Transportation ($11.9M), and Other business services ($10.4M) being the largest in terms of value.

In 2020, Latvia exported services to Italy worth $89.1M, with Transportation ($68.5M), Computer and information services ($9.14M), and Other business services ($6.85M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

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

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: [email protected]
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms