Latvia (LVA) and Laos (LAO) Trade | The Observatory of Economic Complexity

About

Latvia-Laos Trade: In 2022, Latvia exported $25.8k to Laos. The main products that Latvia exported to Laos were Synthetic Filament Yarn Woven Fabric ($19.1k), Broadcasting Equipment ($5.58k), and Air Pumps ($1.09k). Over the past 5 years the exports of Latvia to Laos have decreased at an annualized rate of 38.1%, from $284k in 2017 to $25.8k in 2022.

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

Laos-Latvia Trade: In 2022, Laos exported $629 to Latvia. The main products that Laos exported to Latvia were Motor vehicles; parts and accessories (8701 to 8705) ($414), Leather Footwear ($156), and Non-Knit Women's Undergarments ($41). Over the past 5 years the exports of Laos to Latvia have decreased at an annualized rate of 55.2%, from $34.9k in 2017 to $629 in 2022.

In 2022, Laos 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, Laos ranked 100 in the Economic Complexity Index (ECI -0.79), and 106 in total exports ($9.36B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Latvia exported $25.8k to Laos. The main products exported from Latvia to Laos were Synthetic Filament Yarn Woven Fabric ($19.1k), Broadcasting Equipment ($5.58k), and Air Pumps ($1.09k). During the last 5 years the exports of Latvia to Laos have decreased at an annualized rate of 38.1%, from $284k in 2017 to $25.8k in 2022.

In 2017, Laos exported $629 to Latvia. The main products exported from Laos to Latvia were Motor vehicles; parts and accessories (8701 to 8705) ($414), Leather Footwear ($156), and Non-Knit Women's Undergarments ($41). During the last 5 years the exports of Laos to Latvia have decreased at an annualized rate of 55.2%, from $34.9k in 2022 to $629 in 2017.

Exports from Latvia () to Laos () (2022)

Exports from Laos () to Latvia () (2022)

Latest Data

Trade between Latvia () and Laos ()

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Latvia
Top DestinationLithuania$4.09B

Laos
Top DestinationThailand$3.29B

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

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

In 2022, countries that imported more from Laos than Latvia included Thailand ($3.29B), China ($2.73B), and Vietnam ($978M).

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

Comparative Advantage Latvia - Laos

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Latvia had a large net trade with Laos in the exports of Textiles ($19.1k) and Machines ($6.66k).

During 2017, Laos had a large net trade with Latvia in the exports of Transportation ($414), Footwear and Headwear ($156), and Textiles ($41).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Latvia Laos+$35kTelephones

Top Product Potential Laos Latvia+$3.72kElectricity

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

About

Historical Data

Bilateral Trade by Products

Exports from Latvia () to Laos () (2022)

Exports from Laos () to Latvia () (2022)

Latest Data

Trade between Latvia () and Laos ()

Latvia Exports

Market Competitiveness

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

Comparative Advantage Latvia - Laos

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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