Latvia / Germany

Latvia-Germany Trade: In 2022, Latvia exported $1.44B to Germany. The main products that Latvia exported to Germany were Cheese ($76.5M), Refined Petroleum ($69.3M), and Plywood ($67.1M). Over the past 5 years the exports of Latvia to Germany have increased at an annualized rate of 8.61%, from $956M in 2017 to $1.44B in 2022.

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 2022, Germany exported $2.49B to Latvia. The main products that Germany exported to Latvia were Cars ($314M), Motor vehicles; parts and accessories (8701 to 8705) ($64.8M), and Trailers and semi-trailers, not mechanically propelled vehicles ($64.7M). Over the past 5 years the exports of Germany to Latvia have increased at an annualized rate of 5.93%,  from $1.86B in 2017 to $2.49B in 2022.

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 2022,  Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index. That same year, Germany ranked 5 in the Economic Complexity Index (ECI 1.78), and 3 in total exports ($1.6T).