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2022
Flag → Flag
Exports $25.8MRnk 59 / 194
2022
Flag → Flag
Top Product $3.13MElectric Generating Sets
2022
Flag → Flag
Exports $36.6MRnk 49 / 182
2022
Flag → Flag
Top Product $6.2MRailway Passenger Cars
2022
Flag
Economic Complexity (ECI) ECI 0.8Rnk 34 / 133
2022
Flag  
GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
Flag
 GDP$71BCURRENT US$
Rnk 80 / 186
2012-2022
Flag
GDP GROWTH24%CURRENT US$
Rnk 113 / 186
2022
Flag
GDP PC $21,851CURRENT US$
Rnk 47 / 186
2012-2022
Flag
GDP PC GROWTH57.8%CURRENT US$
Rnk 30 / 186
2022
Flag
GDP PC$18,413CURRENT US$
Rnk 56 / 186
2012-2022
Flag
GDP PC GROWTH37.3%CURRENT US$
Rnk 53 / 186

About

Latvia-Croatia Trade: In 2022, Latvia exported $25.8M to Croatia. The main products that Latvia exported to Croatia were Electric Generating Sets ($3.13M), Nitrogen Heterocyclic Compounds ($2.8M), and Engine Parts ($2.78M). Over the past 5 years the exports of Latvia to Croatia have increased at an annualized rate of 15.1%, from $12.8M in 2017 to $25.8M in 2022.

In 2020, Latvia exported services to Croatia worth $2.28M, with Other business services ($2.28M) being the largest in terms of value.

Croatia-Latvia Trade: In 2022, Croatia exported $36.6M to Latvia. The main products that Croatia exported to Latvia were Railway Passenger Cars ($6.2M), Self-Propelled Rail Transport ($6.13M), and Iron Stovetops ($1.8M). Over the past 5 years the exports of Croatia to Latvia have increased at an annualized rate of 15.4%,  from $17.8M in 2017 to $36.6M in 2022.

In 2020, Croatia exported services to Latvia worth $5.83M, with Travel ($4.8M), Other business services ($800k), and Transportation ($114k) 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, Croatia ranked 34 in the Economic Complexity Index (ECI 0.8), and 73 in total exports ($26B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Latvia exported $25.8M to Croatia. The main products exported from Latvia to Croatia were Electric Generating Sets ($3.13M), Nitrogen Heterocyclic Compounds ($2.8M), and Engine Parts ($2.78M). During the last 5 years the exports of Latvia to Croatia have increased at an annualized rate of 15.1%, from $12.8M in 2017 to $25.8M in 2022.

In 2017, Croatia exported $36.6M to Latvia. The main products exported from Croatia to Latvia were Railway Passenger Cars ($6.2M), Self-Propelled Rail Transport ($6.13M), and Iron Stovetops ($1.8M). During the last 5 years the exports of Croatia to Latvia have increased at an annualized rate of 15.4%, from $17.8M in 2022 to $36.6M in 2017.

Exports from Latvia (Flag) to Croatia (Flag) (2022)

Exports from Croatia (Flag) to Latvia (Flag) (2022)

Latest Data

Trade between Latvia (Flag) and Croatia (Flag)

Latvia Exports

Croatia Exports

Market Competitiveness

Color
Latvia
Top DestinationLithuania$4.09B
Croatia
Top DestinationItaly$3.44B

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

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

In 2022, countries that imported more from Croatia than Latvia included Italy ($3.44B), Slovenia ($2.87B), and Hungary ($2.65B).

Difference in imports from Croatia (Flag) and Latvia (Flag) (2022)

Comparative Advantage Latvia - Croatia

Flow
Scale

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

During 2022, Latvia had a large net trade with Croatia in the exports of Machines ($10.4M), Chemical Products ($4.8M), and Stone And Glass ($2.47M).

During 2017, Croatia had a large net trade with Latvia in the exports of Transportation ($14.1M), Machines ($7.22M), and Miscellaneous ($3.08M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Latvia Croatia+$1.79MPackaged Medicaments
Top Product Potential Croatia Latvia+$825kPackaged Medicaments

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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Bilateral Service Trade

In 2020, Latvia exported services to Croatia worth $2.28M, with Other business services ($2.28M) being the largest in terms of value.

In 2020, Croatia exported services to Latvia worth $5.83M, with Travel ($4.8M), Other business services ($800k), and Transportation ($114k) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Latvia (Flag) and Croatia (Flag) (2022)

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