Lithuania (LTU) and Latvia (LVA) Trade | The Observatory of Economic Complexity

About

Lithuania-Latvia Trade: In 2023, Lithuania exported $4.44B to Latvia. The main products that Lithuania exported to Latvia were Refined Petroleum ($789M), Petroleum Gas ($260M), and Packaged Medicaments ($210M). Over the past 5 years the exports of Lithuania to Latvia have increased at an annualized rate of 7.58%, from $3.08B in 2018 to $4.44B in 2023.

In 2020, Lithuania exported services to Latvia worth $469M, with Transportation ($212M), Other business services ($98.8M), and Travel ($60.5M) being the largest in terms of value.

Latvia-Lithuania Trade: In 2023, Latvia exported $3.77B to Lithuania. The main products that Latvia exported to Lithuania were Electricity ($366M), Cars ($242M), and Broadcasting Equipment ($227M). Over the past 5 years the exports of Latvia to Lithuania have increased at an annualized rate of 8.73%, from $2.48B in 2018 to $3.77B in 2023.

In 2020, Latvia exported services to Lithuania worth $404M, with Transportation ($111M), Other business services ($109M), and Travel ($92.5M) being the largest in terms of value.

Comparison In 2023, Lithuania ranked 32 in the Economic Complexity Index (ECI 0.85), and 63 in total exports ($41B). 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, Lithuania exported $4.44B to Latvia. The main products exported from Lithuania to Latvia were Refined Petroleum ($789M), Petroleum Gas ($260M), and Packaged Medicaments ($210M). During the last 5 years the exports of Lithuania to Latvia have increased at an annualized rate of 7.58%, from $3.08B in 2018 to $4.44B in 2023.

In 2018, Latvia exported $3.77B to Lithuania. The main products exported from Latvia to Lithuania were Electricity ($366M), Cars ($242M), and Broadcasting Equipment ($227M). During the last 5 years the exports of Latvia to Lithuania have increased at an annualized rate of 8.73%, from $2.48B in 2023 to $3.77B in 2018.

Exports from Lithuania () to Latvia () (2023)

Exports from Latvia () to Lithuania () (2023)

Latest Data

Trade between Lithuania () and Latvia ()

Lithuania Exports

Date

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Lithuania
Top DestinationLatvia$4.44B

Latvia
Top DestinationLithuania$3.77B

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

In 2023, countries that imported more from Lithuania than Latvia included Poland ($3.37B), Germany ($2.83B), and Belarus ($1.84B).

In 2023, countries that imported more from Latvia than Lithuania included Nigeria ($717M), China ($230M), and Tanzania ($42.9M).

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

Comparative Advantage Lithuania - Latvia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Lithuania had a large net trade with Latvia in the exports of Mineral Products ($1.24B), Machines ($619M), and Chemical Products ($553M).

During 2018, Latvia had a large net trade with Lithuania in the exports of Machines ($845M), Mineral Products ($649M), and Transportation ($357M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Lithuania Latvia+$6.13MCars

Top Product Potential Latvia Lithuania+$2.92MRefined Petroleum

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Bilateral Service Trade

Lva Year

Ltu Year

In 2020, Lithuania exported services to Latvia worth $469M, with Transportation ($212M), Other business services ($98.8M), and Travel ($60.5M) being the largest in terms of value.

In 2020, Latvia exported services to Lithuania worth $404M, with Transportation ($111M), Other business services ($109M), and Travel ($92.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Lithuania () to Latvia () (2020)

Services Exports from Latvia () to Lithuania () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Lithuania () to Latvia () (2023)

Exports from Latvia () to Lithuania () (2023)

Latest Data

Trade between Lithuania () and Latvia ()

Lithuania Exports

Latvia Exports

Market Competitiveness

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

Comparative Advantage Lithuania - Latvia

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Bilateral Service Trade

Services Exports from Lithuania () to Latvia () (2020)

Services Exports from Latvia () to Lithuania () (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Keep Exploring