Jamaica (JAM) and Latvia (LVA) Trade | The Observatory of Economic Complexity

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Jamaica-Latvia Trade: In 2023, Jamaica exported $131M to Latvia. The main products that Jamaica exported to Latvia were Aluminium Oxide ($131M), Hard Liquor ($11.1k), and Coffee ($21). Over the past 5 years the exports of Jamaica to Latvia have increased at an annualized rate of 50.8%, from $16.8M in 2018 to $131M in 2023.

In 2023, Jamaica did not export any services to Latvia.

Latvia-Jamaica Trade: In 2023, Latvia exported $1.97M to Jamaica. The main products that Latvia exported to Jamaica were Vaccines, blood, antisera, toxins and cultures ($1.77M), Hard Liquor ($109k), and Peat ($50.1k). Over the past 5 years the exports of Latvia to Jamaica have increased at an annualized rate of 69.4%, from $141k in 2018 to $1.97M in 2023.

In 2023, Latvia did not export any services to Jamaica.

Comparison In 2023, Jamaica ranked 70 in the Economic Complexity Index (ECI -0.14), and 147 in total exports ($1.89B). That same year, Latvia ranked 80 in total exports ($19.9B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Jamaica exported $131M to Latvia. The main products exported from Jamaica to Latvia were Aluminium Oxide ($131M), Hard Liquor ($11.1k), and Coffee ($21). During the last 5 years the exports of Jamaica to Latvia have increased at an annualized rate of 50.8%, from $16.8M in 2018 to $131M in 2023.

In 2018, Latvia exported $1.97M to Jamaica. The main products exported from Latvia to Jamaica were Vaccines, blood, antisera, toxins and cultures ($1.77M), Hard Liquor ($109k), and Peat ($50.1k). During the last 5 years the exports of Latvia to Jamaica have increased at an annualized rate of 69.4%, from $141k in 2023 to $1.97M in 2018.

Exports from Jamaica () to Latvia () (2023)

Exports from Latvia () to Jamaica () (2023)

Latest Data

Trade between Jamaica () and Latvia ()

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Jamaica
Top DestinationUnited States$709M

Latvia
Top DestinationLithuania$3.77B

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

In 2023, countries that imported more from Jamaica than Latvia included Guyana ($80.7M), United States ($709M), and Iceland ($127M).

In 2023, countries that imported more from Latvia than Jamaica included Lithuania ($3.77B), Estonia ($1.26B), and Germany ($1.11B).

Difference in imports from Latvia () and Jamaica () (2023)

Comparative Advantage Jamaica - Latvia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Jamaica had a large net trade with Latvia in the exports of Chemical Products ($131M), Foodstuffs ($11.1k), and Vegetable Products ($21).

During 2018, Latvia had a large net trade with Jamaica in the exports of Chemical Products ($1.77M), Foodstuffs ($109k), and Mineral Products ($50.1k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Jamaica Latvia+$9.25kScrap Plastic

Top Product Potential Latvia Jamaica+$82.4kHard Liquor

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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Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Jamaica () to Latvia () (2023)

Exports from Latvia () to Jamaica () (2023)

Latest Data

Trade between Jamaica () and Latvia ()

Latvia Exports

Market Competitiveness

Difference in imports from Latvia () and Jamaica () (2023)

Comparative Advantage Jamaica - Latvia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Jamaica () and Latvia () (2023)

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