Latvia (LVA) and Honduras (HND) Trade | The Observatory of Economic Complexity

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Latvia-Honduras Trade: In 2022, Latvia exported $1.15M to Honduras. The main products that Latvia exported to Honduras were Broadcasting Equipment ($892k), Peat ($234k), and Other Women's Undergarments ($14.5k). Over the past 5 years the exports of Latvia to Honduras have decreased at an annualized rate of 0.23%, from $1.16M in 2017 to $1.15M in 2022.

In 2022, Latvia did not export any services to Honduras.

Honduras-Latvia Trade: In 2022, Honduras exported $265k to Latvia. The main products that Honduras exported to Latvia were Pepper ($166k), Nutmeg, mace and cardamons ($59.2k), and Scrap Plastic ($36.9k). Over the past 5 years the exports of Honduras to Latvia have increased at an annualized rate of 6.57%, from $193k in 2017 to $265k in 2022.

In 2022, Honduras did not export any services to Latvia.

Comparison In 2022, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index. That same year, Honduras ranked 88 in the Economic Complexity Index (ECI -0.52), and 97 in total exports ($12.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Latvia exported $1.15M to Honduras. The main products exported from Latvia to Honduras were Broadcasting Equipment ($892k), Peat ($234k), and Other Women's Undergarments ($14.5k). During the last 5 years the exports of Latvia to Honduras have decreased at an annualized rate of 0.23%, from $1.16M in 2017 to $1.15M in 2022.

In 2017, Honduras exported $265k to Latvia. The main products exported from Honduras to Latvia were Pepper ($166k), Nutmeg, mace and cardamons ($59.2k), and Scrap Plastic ($36.9k). During the last 5 years the exports of Honduras to Latvia have increased at an annualized rate of 6.57%, from $193k in 2022 to $265k in 2017.

Exports from Latvia () to Honduras () (2022)

Exports from Honduras () to Latvia () (2022)

Latest Data

Trade between Latvia () and Honduras ()

Latvia Exports

Date

Honduras Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Latvia
Top DestinationLithuania$4.09B

Honduras
Top DestinationUnited States$6.31B

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

In 2022, countries that imported more from Latvia than Honduras included Lithuania ($4.09B), Estonia ($2.26B), and Russia ($1.26B).

In 2022, countries that imported more from Honduras than Latvia included United States ($6.31B), Nicaragua ($1.02B), and El Salvador ($940M).

Difference in imports from Honduras () and Latvia () (2022)

Comparative Advantage Latvia - Honduras

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Latvia had a large net trade with Honduras in the exports of Machines ($895k), Mineral Products ($234k), and Textiles ($16.5k).

During 2017, Honduras had a large net trade with Latvia in the exports of Vegetable Products ($225k), Plastics and Rubbers ($36.9k), and Textiles ($1.98k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Latvia Honduras+$527kTelephones

Top Product Potential Honduras Latvia+$41.7kScrap Plastic

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.

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Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Latvia () to Honduras () (2022)

Exports from Honduras () to Latvia () (2022)

Latest Data

Trade between Latvia () and Honduras ()

Latvia Exports

Honduras Exports

Market Competitiveness

Difference in imports from Honduras () and Latvia () (2022)

Comparative Advantage Latvia - Honduras

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Latvia () and Honduras () (2022)

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