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Flag → Flag
Top Product $366MElectricity
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Flag → Flag
Exports $4.44BRnk 1 / 196
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Flag → Flag
Top Product $789MRefined Petroleum
2023
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Economic Complexity (ECI) ECI 0.85Rnk 32 / 132
2023
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GDP$42.2BCURRENT US$
Rnk 100 / 195
2013-2023
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GDP GROWTH44.9%CURRENT US$
Rnk 86 / 195
2023
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 GDP$79.8BCURRENT US$
Rnk 78 / 195
2013-2023
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GDP GROWTH72.3%CURRENT US$
Rnk 39 / 195
2023
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GDP PC $22,503CURRENT US$
Rnk 56 / 195
2013-2023
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GDP PC GROWTH55.4%CURRENT US$
Rnk 37 / 195
2023
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GDP PC$27,786CURRENT US$
Rnk 49 / 196
2013-2023
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GDP PC GROWTH77.5%CURRENT US$
Rnk 18 / 195

About

In N/A, Latvia did not export any services to Lithuania.

Lithuania-Latvia Trade: In N/A, Lithuania exported $4.44B to Latvia. The main products that Lithuania exported to Latvia were Refined Petroleum ($789M), Petroleum Gas ($260M), and Packaged Medicaments ($210M). Over the past N/A years the exports of Lithuania to Latvia have increased at an annualized rate of 7.58%,  from $3.08B in N/A to $4.44B in N/A.

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 2023,  Latvia ranked 80 in total exports ($19.9B), and does not have data regarding Economic Complexity Index. That same year, Lithuania ranked 32 in the Economic Complexity Index (ECI 0.85), and 63 in total exports ($41B).

Historical Data

Bilateral Trade by Products

Depth
Value

Latvia does not register exports to Lithuania. The main products exported from Latvia to Lithuania were Electricity ($366M), Cars ($242M), and Broadcasting Equipment ($227M).

In 2018, Lithuania exported $4.44B to Latvia. The main products exported from Lithuania to Latvia were Refined Petroleum ($789M), Petroleum Gas ($260M), and Packaged Medicaments ($210M). During the last 5 years the exports of Lithuania to Latvia have increased at an annualized rate of 7.58%, from $3.08B in 2023 to $4.44B in 2018.

Exports from Latvia (Flag) to Lithuania (Flag) (2023)

Exports from Lithuania (Flag) to Latvia (Flag) (2023)

Latest Data

Trade between Latvia (Flag) and Lithuania (Flag)

Latvia Exports

Lithuania Exports

Market Competitiveness

Color
Latvia
Top DestinationLithuania$3.77B
Lithuania
Top DestinationLatvia$4.44B

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 2023, countries that imported more from Latvia than Lithuania included Nigeria ($717M), China ($230M), and Tanzania ($42.9M).

In 2023, countries that imported more from Lithuania than Latvia included Poland ($3.37B), Germany ($2.83B), and Belarus ($1.84B).

Difference in imports from Lithuania (Flag) and Latvia (Flag) (2023)

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 2018, Lithuania had a large net trade with Latvia in the exports of N/A.

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, 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 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) (2023)

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