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Pricing

2022
Flag → Flag
Exports $97.1MRnk 30 / 194
2022
Flag → Flag
Top Product $14.3MSawn Wood
2022
Flag → Flag
Exports $75.7MRnk 76 / 210
2022
Flag → Flag
Top Product $38.3MHard Liquor
2022
Flag
Economic Complexity (ECI) ECI 1.27Rnk 18 / 133
2022
Flag  
GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
Flag
 GDP$529BCURRENT US$
Rnk 26 / 186
2012-2022
Flag
GDP GROWTH135%CURRENT US$
Rnk 7 / 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$104,039CURRENT US$
Rnk 4 / 186
2012-2022
Flag
GDP PC GROWTH112%CURRENT US$
Rnk 7 / 186

About

Latvia-Ireland Trade: In 2022, Latvia exported $97.1M to Ireland. The main products that Latvia exported to Ireland were Sawn Wood ($14.3M), Aluminium Structures ($10.8M), and Animal Food ($10.7M). Over the past 5 years the exports of Latvia to Ireland have increased at an annualized rate of 11.4%, from $56.7M in 2017 to $97.1M in 2022.

In 2020, Latvia exported services to Ireland worth $179M, with Computer and information services ($127M), Other business services ($22.8M), and Travel ($13.7M) being the largest in terms of value.

Ireland-Latvia Trade: In 2022, Ireland exported $75.7M to Latvia. The main products that Ireland exported to Latvia were Hard Liquor ($38.3M), Scented Mixtures ($4.68M), and Pesticides ($3.15M). Over the past 5 years the exports of Ireland to Latvia have decreased at an annualized rate of 9.49%,  from $125M in 2017 to $75.7M in 2022.

In 2020, Ireland exported services to Latvia worth $67.4M, with Other business services ($58.3M), Transportation ($4.57M), and Travel ($2.28M) 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, Ireland ranked 18 in the Economic Complexity Index (ECI 1.27), and 31 in total exports ($236B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Latvia exported $97.1M to Ireland. The main products exported from Latvia to Ireland were Sawn Wood ($14.3M), Aluminium Structures ($10.8M), and Animal Food ($10.7M). During the last 5 years the exports of Latvia to Ireland have increased at an annualized rate of 11.4%, from $56.7M in 2017 to $97.1M in 2022.

In 2017, Ireland exported $75.7M to Latvia. The main products exported from Ireland to Latvia were Hard Liquor ($38.3M), Scented Mixtures ($4.68M), and Pesticides ($3.15M). During the last 5 years the exports of Ireland to Latvia have decreased at an annualized rate of 9.49%, from $125M in 2022 to $75.7M in 2017.

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

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

Latest Data

Trade between Latvia (Flag) and Ireland (Flag)

Latvia Exports

Ireland Exports

Market Competitiveness

Color
Latvia
Top DestinationLithuania$4.09B
Ireland
Top DestinationUnited States$70.7B

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

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

In 2022, countries that imported more from Ireland than Latvia included United States ($70.7B), Germany ($28.6B), and United Kingdom ($19B).

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

Comparative Advantage Latvia - Ireland

Flow
Scale

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

During 2022, Latvia had a large net trade with Ireland in the exports of Foodstuffs ($29.7M), Wood Products ($24.5M), and Metals ($13.7M).

During 2017, Ireland had a large net trade with Latvia in the exports of Foodstuffs ($41.8M), Chemical Products ($13.3M), and Machines ($6.27M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Latvia Ireland+$4.79MRefined Petroleum
Top Product Potential Ireland Latvia+$3.27MPackaged 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 Ireland worth $179M, with Computer and information services ($127M), Other business services ($22.8M), and Travel ($13.7M) being the largest in terms of value.

In 2020, Ireland exported services to Latvia worth $67.4M, with Other business services ($58.3M), Transportation ($4.57M), and Travel ($2.28M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Ireland (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 Ireland. This means that a dot/product with the flag of Latvia indicates it has a comparative advantage over Ireland. Similarly, a dot/product with the flag of Ireland indicates it has a comparative advantage over Latvia.

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

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