Latvia (LVA) and Japan (JPN) Trade | The Observatory of Economic Complexity

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Latvia-Japan Trade: In 2022, Latvia exported $101M to Japan. The main products that Latvia exported to Japan were Sawn Wood ($55.9M), Peat ($10M), and Medical Instruments ($4.92M). Over the past 5 years the exports of Latvia to Japan have increased at an annualized rate of 8.51%, from $67.2M in 2017 to $101M in 2022.

In 2020, Latvia exported services to Japan worth $1.14M, with Financial services ($1.14M) being the largest in terms of value.

Japan-Latvia Trade: In 2022, Japan exported $31.9M to Latvia. The main products that Japan exported to Latvia were Rubber Tires ($4.54M), Synthetic Rubber ($2.58M), and Motor vehicles; parts and accessories (8701 to 8705) ($2.27M). Over the past 5 years the exports of Japan to Latvia have decreased at an annualized rate of 9.4%, from $63.7M in 2017 to $31.9M in 2022.

In 2022, Japan 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, Japan ranked 1 in the Economic Complexity Index (ECI 2.07), and 4 in total exports ($728B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Latvia exported $101M to Japan. The main products exported from Latvia to Japan were Sawn Wood ($55.9M), Peat ($10M), and Medical Instruments ($4.92M). During the last 5 years the exports of Latvia to Japan have increased at an annualized rate of 8.51%, from $67.2M in 2017 to $101M in 2022.

In 2017, Japan exported $31.9M to Latvia. The main products exported from Japan to Latvia were Rubber Tires ($4.54M), Synthetic Rubber ($2.58M), and Motor vehicles; parts and accessories (8701 to 8705) ($2.27M). During the last 5 years the exports of Japan to Latvia have decreased at an annualized rate of 9.4%, from $63.7M in 2022 to $31.9M in 2017.

Exports from Latvia () to Japan () (2022)

Exports from Japan () to Latvia () (2022)

Latest Data

Trade between Latvia () and Japan ()

Latvia Exports

Date

Japan Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Latvia
Top DestinationLithuania$4.09B

Japan
Top DestinationUnited States$137B

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

In 2022, countries that imported more from Latvia than Japan included Lithuania ($4.09B), Estonia ($2.26B), and Finland ($1.06B).

In 2022, countries that imported more from Japan than Latvia included United States ($137B), China ($135B), and South Korea ($50.8B).

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

Comparative Advantage Latvia - Japan

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Latvia had a large net trade with Japan in the exports of Wood Products ($57.4M), Mineral Products ($10M), and Instruments ($6.85M).

During 2017, Japan had a large net trade with Latvia in the exports of Machines ($8.85M), Plastics and Rubbers ($8.13M), and Transportation ($3.32M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Latvia Japan+$7.7MSawn Wood

Top Product Potential Japan Latvia+$3.47MCars

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

About

Historical Data

Bilateral Trade by Products

Exports from Latvia () to Japan () (2022)

Exports from Japan () to Latvia () (2022)

Latest Data

Trade between Latvia () and Japan ()

Latvia Exports

Japan Exports

Market Competitiveness

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

Comparative Advantage Latvia - Japan

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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