Latvia (LVA) and Kuwait (KWT) Trade | The Observatory of Economic Complexity

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Latvia-Kuwait Trade: In 2022, Latvia exported $10.8M to Kuwait. The main products that Latvia exported to Kuwait were Sawn Wood ($2.27M), Peat ($1.11M), and Other Furniture ($855k). Over the past 5 years the exports of Latvia to Kuwait have increased at an annualized rate of 21.6%, from $4.05M in 2017 to $10.8M in 2022.

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

Kuwait-Latvia Trade: In 2022, Kuwait exported $13.5k to Latvia. The main products that Kuwait exported to Latvia were Used Clothing ($2.93k), Air Pumps ($1.19k), and Non-Knit Women's Suits ($1.1k). Over the past 5 years the exports of Kuwait to Latvia have decreased at an annualized rate of 64.8%, from $2.49M in 2017 to $13.5k in 2022.

In 2022, Kuwait 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, Kuwait ranked 46 in the Economic Complexity Index (ECI 0.44), and 42 in total exports ($101B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Latvia exported $10.8M to Kuwait. The main products exported from Latvia to Kuwait were Sawn Wood ($2.27M), Peat ($1.11M), and Other Furniture ($855k). During the last 5 years the exports of Latvia to Kuwait have increased at an annualized rate of 21.6%, from $4.05M in 2017 to $10.8M in 2022.

In 2017, Kuwait exported $13.5k to Latvia. The main products exported from Kuwait to Latvia were Used Clothing ($2.93k), Air Pumps ($1.19k), and Non-Knit Women's Suits ($1.1k). During the last 5 years the exports of Kuwait to Latvia have decreased at an annualized rate of 64.8%, from $2.49M in 2022 to $13.5k in 2017.

Exports from Latvia () to Kuwait () (2022)

Exports from Kuwait () to Latvia () (2022)

Latest Data

Trade between Latvia () and Kuwait ()

Latvia Exports

Date

Kuwait Exports

Date

Dec 2017

Apr 2017

Dec 2016

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Latvia
Top DestinationLithuania$4.09B

Kuwait
Top DestinationChina$24.3B

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

In 2022, countries that imported more from Latvia than Kuwait included Lithuania ($4.09B), Estonia ($2.26B), and Germany ($1.44B).

In 2022, countries that imported more from Kuwait than Latvia included China ($24.3B), India ($15B), and South Korea ($10.8B).

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

Comparative Advantage Latvia - Kuwait

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Latvia had a large net trade with Kuwait in the exports of Wood Products ($3.05M), Miscellaneous ($1.15M), and Transportation ($1.12M).

During 2017, Kuwait had a large net trade with Latvia in the exports of Textiles ($7.22k), Machines ($2.26k), and Animal Hides ($1.09k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Latvia Kuwait+$789kSawn Wood

Top Product Potential Kuwait Latvia+$8.99kUsed Clothing

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

About

Historical Data

Bilateral Trade by Products

Exports from Latvia () to Kuwait () (2022)

Exports from Kuwait () to Latvia () (2022)

Latest Data

Trade between Latvia () and Kuwait ()

Latvia Exports

Kuwait Exports

Market Competitiveness

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

Comparative Advantage Latvia - Kuwait

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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