Flag Latvia / Estonia Flag

2020
FlagFlag
Exports
: $1.59B, Rnk 2 / 193

2020
FlagFlag
Top Product
: $207M, Fuel Wood

2020
FlagFlag
Exports
: $1.37B, Rnk 4 / 184

2020
FlagFlag
Top Product
: $174M, Cars

2020
Flag  
GDP
: $33.6B, CURRENT US$
Rnk 97 / 204

2010-2020
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GDP GROWTH
: 40.4%, CURRENT US$
Rnk 75 / 204

2020
Flag
 GDP
: $30.7B, CURRENT US$
Rnk 99 / 204

2010-2020
Flag
GDP GROWTH
: 57%, CURRENT US$
Rnk 50 / 204

2020
Flag
GDP PC 
: $17,704, CURRENT US$
Rnk 57 / 204

2010-2020
Flag
GDP PC GROWTH
: 55%, CURRENT US$
Rnk 26 / 204

2020
Flag
GDP PC
: $23,054, CURRENT US$
Rnk 48 / 204

2010-2020
Flag
GDP PC GROWTH
: 57.2%, CURRENT US$
Rnk 25 / 204

Latvia-Estonia In 2020, Latvia exported $1.59B to Estonia. The main products that Latvia exported to Estonia are Fuel Wood ($207M), Sawn Wood ($49.2M), and Packaged Medicaments ($49.1M). During the last 25 years the exports of Latvia to Estonia have increased at an annualized rate of 14.8%, from $50.7M in 1995 to $1.59B in 2020.

In 2020, Latvia exported services to Estonia worth $222M, with Other business services ($75.4M), Transportation ($61.7M), and Travel ($38.8M) being the largest in terms of value.

Estonia-Latvia In 2020, Estonia exported $1.37B to Latvia. The main products that Estonia exported to Latvia were Cars ($174M), Electricity ($108M), and Milk ($36.3M). During the last 25 years the exports of Estonia to Latvia have increased at an annualized rate of 9.78%, from $133M in 1995 to $1.37B in 2020.

In 2020, Estonia exported services to Latvia worth $338M, with Other business services ($138M), Transportation ($70.7M), and Travel ($47.3M) being the largest in terms of value.

Comparison In 2020,  Latvia ranked 74 in total exports ($16.1B). That same year, Estonia ranked 73 in total exports ($16.8B). Both countries does not have data related to Economic Complexity Index.

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2020, Latvia exported $1.59B to Estonia. The main products exported from Latvia to Estonia were Fuel Wood ($207M), Sawn Wood ($49.2M), and Packaged Medicaments ($49.1M). During the last 25 years the exports of Latvia to Estonia have increased at an annualized rate of 14.8%, from $50.7M in 1995 to $1.59B in 2020.

In 2020, Estonia exported $1.37B to Latvia. The main products exported from Estonia to Latvia were Cars ($174M), Electricity ($108M), and Milk ($36.3M). During the last 25 years the exports of Estonia to Latvia have increased at an annualized rate of 9.78%, from $133M in 1995 to $1.37B in 2020.

Latvia Exports

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Estonia Exports

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Market Competitiveness

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Measure

Latvia
Top Destination
: Lithuania, $2.47B

Estonia
Top Destination
: Finland, $2.24B

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

In 2019, countries that imported more from Latvia than Estonia were Lithuania ($2.47B), United Kingdom ($892M), and Poland ($666M).

In 2019, countries that imported more from Estonia than Latvia were Finland ($2.24B), United States ($1.34B), and Sweden ($1.53B).

Comparative Advantage Latvia - Estonia

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Flow
Scale

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

During 2020, Latvia had a large net trade with Estonia in the exports of Wood Products ($329M), Machines ($254M), and Foodstuffs ($158M).

During 2020, Estonia had a large net trade with Latvia in the exports of Transportation ($225M), Mineral Products ($174M), and Machines ($172M).

Bilateral Service Trade

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In 2020, Latvia exported services to Estonia worth $222M, with Other business services ($75.4M), Transportation ($61.7M), and Travel ($38.8M) being the largest in terms of value.

In 2020, Estonia exported services to Latvia worth $338M, with Other business services ($138M), Transportation ($70.7M), and Travel ($47.3M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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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 Latvia has comparative advantage over Estonia. Similarly, the more yellow a dot/product is, the more Estonia has comparative advantage over Latvia.