Latvia / Iceland

Latvia-Iceland Trade: In 2022, Latvia exported $57.6M to Iceland. The main products that Latvia exported to Iceland were Wood Carpentry ($11.2M), Sawn Wood ($9.18M), and Prefabricated Buildings ($5.12M). Over the past 5 years the exports of Latvia to Iceland have increased at an annualized rate of 11.6%, from $33.3M in 2017 to $57.6M in 2022.

In 2020, Latvia exported services to Iceland worth $2.28M, with Travel ($1.14M) and Other business services ($1.14M) being the largest in terms of value.

Iceland-Latvia Trade: In 2022, Iceland exported $16.2M to Latvia. The main products that Iceland exported to Latvia were Scrap Iron ($8.81M), Non-fillet Fresh Fish ($2.56M), and Processed Fish ($1.54M). Over the past 5 years the exports of Iceland to Latvia have increased at an annualized rate of 18.8%,  from $4.83M in 2017 to $16.2M in 2022.

In 2019, Iceland exported services to Latvia worth $7.5M, with Travel ($3.92M), Other business services ($2.57M), and Transportation ($784k) being the largest in terms of value.

Comparison In 2022,  Latvia ranked 75 in total exports ($22.9B). That same year, Iceland ranked 116 in total exports ($7.31B). Both countries does not have data related to Economic Complexity Index.