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2022
Flag → Flag
Exports $4.09BRnk 1 / 194
2022
Flag → Flag
Top Product $814MElectricity
2022
Flag → Flag
Exports $6.18BRnk 1 / 196
2022
Flag → Flag
Top Product $1.77BPetroleum Gas
2022
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Economic Complexity (ECI) ECI 0.93Rnk 30 / 133
2022
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GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
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GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
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 GDP$70.3BCURRENT US$
Rnk 81 / 186
2012-2022
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GDP GROWTH63.8%CURRENT US$
Rnk 38 / 186
2022
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GDP PC $21,851CURRENT US$
Rnk 47 / 186
2012-2022
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GDP PC GROWTH57.8%CURRENT US$
Rnk 30 / 186
2022
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GDP PC$24,827CURRENT US$
Rnk 45 / 186
2012-2022
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GDP PC GROWTH72.8%CURRENT US$
Rnk 17 / 186

About

Latvia-Lithuania Trade: In 2022, Latvia exported $4.09B to Lithuania. The main products that Latvia exported to Lithuania were Electricity ($814M), Milk ($221M), and Broadcasting Equipment ($215M). Over the past 5 years the exports of Latvia to Lithuania have increased at an annualized rate of 12.9%, from $2.23B in 2017 to $4.09B in 2022.

In 2020, Latvia exported services to Lithuania worth $404M, with Transportation ($111M), Other business services ($109M), and Travel ($92.5M) being the largest in terms of value.

Lithuania-Latvia Trade: In 2022, Lithuania exported $6.18B to Latvia. The main products that Lithuania exported to Latvia were Petroleum Gas ($1.77B), Refined Petroleum ($1.04B), and Packaged Medicaments ($175M). Over the past 5 years the exports of Lithuania to Latvia have increased at an annualized rate of 4.93%,  from $2.86B in 2017 to $6.18B in 2022.

In 2020, Lithuania exported services to Latvia worth $469M, with Transportation ($212M), Other business services ($98.8M), and Travel ($60.5M) being the largest in terms of value.

Comparison In 2022,  Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index. That same year, Lithuania ranked 30 in the Economic Complexity Index (ECI 0.93), and 62 in total exports ($46.9B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Latvia exported $4.09B to Lithuania. The main products exported from Latvia to Lithuania were Electricity ($814M), Milk ($221M), and Broadcasting Equipment ($215M). During the last 5 years the exports of Latvia to Lithuania have increased at an annualized rate of 12.9%, from $2.23B in 2017 to $4.09B in 2022.

In 2017, Lithuania exported $6.18B to Latvia. The main products exported from Lithuania to Latvia were Petroleum Gas ($1.77B), Refined Petroleum ($1.04B), and Packaged Medicaments ($175M). During the last 5 years the exports of Lithuania to Latvia have increased at an annualized rate of 4.93%, from $2.86B in 2022 to $6.18B in 2017.

Exports from Latvia (Flag) to Lithuania (Flag) (2022)

Exports from Lithuania (Flag) to Latvia (Flag) (2022)

Latest Data

Trade between Latvia (Flag) and Lithuania (Flag)

Latvia Exports

Lithuania Exports

Market Competitiveness

Color
Latvia
Top DestinationLithuania$4.09B
Lithuania
Top DestinationLatvia$6.18B

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

In 2022, countries that imported more from Latvia than Lithuania included Finland ($1.06B), India ($302M), and China ($240M).

In 2022, countries that imported more from Lithuania than Latvia included Poland ($3.91B), Germany ($3.54B), and United States ($2.6B).

Difference in imports from Lithuania (Flag) and Latvia (Flag) (2022)

Comparative Advantage Latvia - Lithuania

Flow
Scale

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

During 2022, Latvia had a large net trade with Lithuania in the exports of Mineral Products ($1.13B), Machines ($759M), and Animal Products ($356M).

During 2017, Lithuania had a large net trade with Latvia in the exports of Mineral Products ($2.97B), Machines ($610M), and Chemical Products ($585M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Latvia Lithuania+$2.92MRefined Petroleum
Top Product Potential Lithuania Latvia+$6.13MCars

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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Bilateral Service Trade

In 2020, Latvia exported services to Lithuania worth $404M, with Transportation ($111M), Other business services ($109M), and Travel ($92.5M) being the largest in terms of value.

In 2020, Lithuania exported services to Latvia worth $469M, with Transportation ($212M), Other business services ($98.8M), and Travel ($60.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Latvia (Flag) to Lithuania (Flag) (2020)

Services Exports from Lithuania (Flag) to Latvia (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Latvia and Lithuania. This means that a dot/product with the flag of Latvia indicates it has a comparative advantage over Lithuania. Similarly, a dot/product with the flag of Lithuania indicates it has a comparative advantage over Latvia.

Product Space of Latvia (Flag) and Lithuania (Flag) (2022)

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