2021
Flag  
GDP
$39.7BCURRENT US$
Rnk 95 / 204
2011-2021
Flag
GDP GROWTH
44.6%CURRENT US$
Rnk 71 / 204
2021
Flag
 GDP
$37.2BCURRENT US$
Rnk 97 / 204
2011-2021
Flag
GDP GROWTH
60.2%CURRENT US$
Rnk 41 / 204
2021
Flag
GDP PC 
$21,080CURRENT US$
Rnk 57 / 204
2011-2021
Flag
GDP PC GROWTH
58%CURRENT US$
Rnk 22 / 204
2021
Flag
GDP PC
$27,944CURRENT US$
Rnk 49 / 204
2011-2021
Flag
GDP PC GROWTH
59.8%CURRENT US$
Rnk 21 / 204

About

Latvia-Estonia In 2021, Latvia exported $1.81B to Estonia. The main products that Latvia exported to Estonia are Sawn Wood ($84.4M), Petroleum Gas ($71.4M), and Video Displays ($58.7M). During the last 26 years the exports of Latvia to Estonia have increased at an annualized rate of 14.7%, from $50.8M in 1995 to $1.81B in 2021.

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 2021, Estonia exported $1.95B to Latvia. The main products that Estonia exported to Latvia were Electricity ($412M), Cars ($200M), and Sawn Wood ($53.5M). During the last 26 years the exports of Estonia to Latvia have increased at an annualized rate of 10.9%, from $133M in 1995 to $1.95B in 2021.

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 2021,  Latvia ranked 75 in total exports ($20B). That same year, Estonia ranked 73 in total exports ($21.9B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2021, Latvia exported $1.81B to Estonia. The main products exported from Latvia to Estonia were Sawn Wood ($84.4M), Petroleum Gas ($71.4M), and Video Displays ($58.7M). During the last 26 years the exports of Latvia to Estonia have increased at an annualized rate of 14.7%, from $50.8M in 1995 to $1.81B in 2021.

In 2021, Estonia exported $1.95B to Latvia. The main products exported from Estonia to Latvia were Electricity ($412M), Cars ($200M), and Sawn Wood ($53.5M). During the last 26 years the exports of Estonia to Latvia have increased at an annualized rate of 10.9%, from $133M in 1995 to $1.95B in 2021.

Exports from Latvia (Flag) to Estonia (Flag) (2021)

Exports from Estonia (Flag) to Latvia (Flag) (2021)

Latest Data

Trade between Latvia (Flag) and Estonia (Flag)

Latvia Exports

Estonia Exports

Market Competitiveness

Color
Latvia
Top Destination
Lithuania$3.35B
Estonia
Top Destination
Finland$2.68B

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 2021, countries that imported more from Latvia than Estonia were Lithuania ($3.35B), United Kingdom ($1.5B), and Nigeria ($524M).

In 2021, countries that imported more from Estonia than Latvia were Finland ($2.68B), United States ($2.03B), and Sweden ($1.86B).

Difference in imports from Estonia (Flag) and Latvia (Flag) (2021)

Comparative Advantage Latvia - Estonia

Flow
Scale

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

During 2021, Latvia had a large net trade with Estonia in the exports of Machines ($302M), Wood Products ($210M), and Foodstuffs ($176M).

During 2021, Estonia had a large net trade with Latvia in the exports of Mineral Products ($483M), Transportation ($277M), and Machines ($211M).

Service Trade

Bilateral Service Trade

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.

Services Exports from Latvia (Flag) to Estonia (Flag) (2020)

Services Exports from Estonia (Flag) to Latvia (Flag) (2020)

Economic Complexity

Competitive Landscape

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.

Product Space of Latvia (Flag) and Estonia (Flag) (2021)

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