Latvia (LVA) and Iraq (IRQ) Trade | The Observatory of Economic Complexity

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Latvia-Iraq Trade: In 2022, Latvia exported $2.38M to Iraq. The main products that Latvia exported to Iraq were Broadcasting Equipment ($625k), Peat ($528k), and Hard Liquor ($500k). Over the past 5 years the exports of Latvia to Iraq have increased at an annualized rate of 1.12%, from $2.25M in 2017 to $2.38M in 2022.

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

Iraq-Latvia Trade: In 2022, Iraq exported $280k to Latvia. The main products that Iraq exported to Latvia were Aircraft Parts ($279k), Broadcasting Equipment ($886), and Electrical Transformers ($432). Over the past 5 years the exports of Iraq to Latvia have increased at an annualized rate of 199%, from $1.16k in 2017 to $280k in 2022.

In 2022, Iraq 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, Iraq ranked 103 in the Economic Complexity Index (ECI -0.84), and 36 in total exports ($123B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Latvia exported $2.38M to Iraq. The main products exported from Latvia to Iraq were Broadcasting Equipment ($625k), Peat ($528k), and Hard Liquor ($500k). During the last 5 years the exports of Latvia to Iraq have increased at an annualized rate of 1.12%, from $2.25M in 2017 to $2.38M in 2022.

In 2017, Iraq exported $280k to Latvia. The main products exported from Iraq to Latvia were Aircraft Parts ($279k), Broadcasting Equipment ($886), and Electrical Transformers ($432). During the last 5 years the exports of Iraq to Latvia have increased at an annualized rate of 199%, from $1.16k in 2022 to $280k in 2017.

Exports from Latvia () to Iraq () (2022)

Exports from Iraq () to Latvia () (2022)

Latest Data

Trade between Latvia () and Iraq ()

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Latvia
Top DestinationLithuania$4.09B

Iraq
Top DestinationIndia$38.8B

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

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

In 2022, countries that imported more from Iraq than Latvia included India ($38.8B), China ($34B), and United States ($10.3B).

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

Comparative Advantage Latvia - Iraq

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Latvia had a large net trade with Iraq in the exports of Machines ($1.1M), Foodstuffs ($634k), and Mineral Products ($528k).

During 2017, Iraq had a large net trade with Latvia in the exports of Transportation ($279k), Machines ($1.42k), and Foodstuffs ($10).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Latvia Iraq+$1.73MTelephones

Top Product Potential Iraq Latvia+$6.72kTelephones

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 Iraq. This means that a dot/product with the flag of Latvia indicates it has a comparative advantage over Iraq. Similarly, a dot/product with the flag of Iraq indicates it has a comparative advantage over Latvia.

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Historical Data

Bilateral Trade by Products

Exports from Latvia () to Iraq () (2022)

Exports from Iraq () to Latvia () (2022)

Latest Data

Trade between Latvia () and Iraq ()

Latvia Exports

Market Competitiveness

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

Comparative Advantage Latvia - Iraq

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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