Latvia / Germany

Latvia-Germany Trade: In 2023, Latvia exported $1.11B to Germany. The main products that Latvia exported to Germany were Cheese ($77.8M), Plywood ($53.7M), and Brochures ($49.2M). Over the past 5 years the exports of Latvia to Germany have increased at an annualized rate of 1.62%, from $1.03B in 2018 to $1.11B in 2023.

In 2020, Latvia exported services to Germany worth $543M, with Transportation ($211M), Other business services ($186M), and Construction services ($62.8M) being the largest in terms of value.

Germany-Latvia Trade: In 2023, Germany exported $2.61B to Latvia. The main products that Germany exported to Latvia were Cars ($456M), Delivery Trucks ($91.3M), and Motor vehicles; parts and accessories (8701 to 8705) ($90.3M). Over the past 5 years the exports of Germany to Latvia have increased at an annualized rate of 7.84%,  from $1.79B in 2018 to $2.61B in 2023.

In 2020, Germany exported services to Latvia worth $106M, with Transportation ($57.1M), Other business services ($28.6M), and Computer and information services ($14.9M) being the largest in terms of value.

Comparison In 2023,  Latvia ranked 80 in total exports ($19.9B), and does not have data regarding Economic Complexity Index. That same year, Germany ranked 5 in the Economic Complexity Index (ECI 1.79), and 3 in total exports ($1.57T).