Flag Latvia / Luxembourg Flag

2021
FlagFlag
Exports
: $12.7M, Rnk 68 / 193

2021
FlagFlag
Top Product
: $8.48M, Polyacetals

2021
FlagFlag
Exports
: $12.6M, Rnk 68 / 199

2021
FlagFlag
Top Product
: $5.68M, Coated Flat-Rolled Iron

2021
Flag  
GDP
: $38.9B, CURRENT US$
Rnk 91 / 182

2011-2021
Flag
GDP GROWTH
: 41.5%, CURRENT US$
Rnk 71 / 182

2021
Flag
 GDP
: $86.7B, CURRENT US$
Rnk 62 / 182

2011-2021
Flag
GDP GROWTH
: 40.5%, CURRENT US$
Rnk 72 / 182

2021
Flag
GDP PC 
: $20,642, CURRENT US$
Rnk 43 / 182

2011-2021
Flag
GDP PC GROWTH
: 54.8%, CURRENT US$
Rnk 25 / 182

2021
Flag
GDP PC
: $135,683, CURRENT US$
Rnk 1 / 182

2011-2021
Flag
GDP PC GROWTH
: 14%, CURRENT US$
Rnk 92 / 182

Latvia-Luxembourg In 2021, Latvia exported $12.7M to Luxembourg. The main products that Latvia exported to Luxembourg are Polyacetals ($8.48M), Interchangeable Tool Parts ($979k), and Cars ($516k). During the last 22 years the exports of Latvia to Luxembourg have increased at an annualized rate of 17.2%, from $391k in 1999 to $12.7M in 2021.

In 2020, Latvia exported services to Luxembourg worth $57.1M, with Transportation ($20.6M), Other business services ($17.1M), and Construction services ($16M) being the largest in terms of value.

Luxembourg-Latvia In 2021, Luxembourg exported $12.6M to Latvia. The main products that Luxembourg exported to Latvia were Coated Flat-Rolled Iron ($5.68M), Rubber Tires ($1.41M), and Other Iron Products ($617k). During the last 22 years the exports of Luxembourg to Latvia have increased at an annualized rate of 11.4%, from $1.17M in 1999 to $12.6M in 2021.

In 2020, Luxembourg exported services to Latvia worth $10.3M, with Other business services ($8M), Transportation ($1.14M), and Travel ($1.14M) being the largest in terms of value.

Comparison In 2021,  Latvia ranked 75 in total exports ($20B). That same year, Luxembourg ranked 76 in total exports ($19.4B). Both countries does not have data related to Economic Complexity Index.

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2021, Latvia exported $12.7M to Luxembourg. The main products exported from Latvia to Luxembourg were Polyacetals ($8.48M), Interchangeable Tool Parts ($979k), and Cars ($516k). During the last 22 years the exports of Latvia to Luxembourg have increased at an annualized rate of 17.2%, from $391k in 1999 to $12.7M in 2021.

In 2021, Luxembourg exported $12.6M to Latvia. The main products exported from Luxembourg to Latvia were Coated Flat-Rolled Iron ($5.68M), Rubber Tires ($1.41M), and Other Iron Products ($617k). During the last 22 years the exports of Luxembourg to Latvia have increased at an annualized rate of 11.4%, from $1.17M in 1999 to $12.6M in 2021.

Latvia Exports

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Luxembourg Exports

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Market Competitiveness

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Color

Latvia
Top Destination
: Lithuania, $3.35B

Luxembourg
Top Destination
: Germany, $4.07B

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

In 2021, countries that imported more from Latvia than Luxembourg were Lithuania ($3.35B), Estonia ($1.81B), and Russia ($1.38B).

In 2021, countries that imported more from Luxembourg than Latvia were Germany ($4.07B), France ($3B), and Belgium ($2.16B).

Comparative Advantage Latvia - Luxembourg

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Flow
Scale

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

During 2021, Latvia had a large net trade with Luxembourg in the exports of Plastics and Rubbers ($8.73M), Metals ($1.12M), and Wood Products ($743k).

During 2021, Luxembourg had a large net trade with Latvia in the exports of Metals ($7.73M), Plastics and Rubbers ($1.88M), and Machines ($1.05M).

Bilateral Service Trade

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In 2020, Latvia exported services to Luxembourg worth $57.1M, with Transportation ($20.6M), Other business services ($17.1M), and Construction services ($16M) being the largest in terms of value.

In 2020, Luxembourg exported services to Latvia worth $10.3M, with Other business services ($8M), Transportation ($1.14M), and Travel ($1.14M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Latvia has comparative advantage over Luxembourg. Similarly, the more yellow a dot/product is, the more Luxembourg has comparative advantage over Latvia.