Latvia (LVA) and Sierra Leone (SLE) Trade | The Observatory of Economic Complexity

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Latvia-Sierra Leone Trade: In 2023, Latvia exported $3.03M to Sierra Leone. The main products that Latvia exported to Sierra Leone were Wheat Flours ($2.73M), Packaged Medicaments ($110k), and Office Machine Parts ($88.1k). Over the past 5 years the exports of Latvia to Sierra Leone have increased at an annualized rate of 1.46%, from $2.82M in 2018 to $3.03M in 2023.

In 2023, Latvia did not export any services to Sierra Leone.

Sierra Leone-Latvia Trade: In 2023, Sierra Leone exported $15.1k to Latvia. The main products that Sierra Leone exported to Latvia were Non-Mechanical Removal Machinery ($7.84k) and Office Machine Parts ($7.24k). Over the past 5 years the exports of Sierra Leone to Latvia have decreased at an annualized rate of 8.23%, from $23.2k in 2018 to $15.1k in 2023.

In 2023, Sierra Leone did not export any services to Latvia.

Comparison In 2023, Latvia ranked 80 in total exports ($19.9B). That same year, Sierra Leone ranked 152 in total exports ($1.52B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Latvia exported $3.03M to Sierra Leone. The main products exported from Latvia to Sierra Leone were Wheat Flours ($2.73M), Packaged Medicaments ($110k), and Office Machine Parts ($88.1k). During the last 5 years the exports of Latvia to Sierra Leone have increased at an annualized rate of 1.46%, from $2.82M in 2018 to $3.03M in 2023.

In 2018, Sierra Leone exported $15.1k to Latvia. The main products exported from Sierra Leone to Latvia were Non-Mechanical Removal Machinery ($7.84k) and Office Machine Parts ($7.24k). During the last 5 years the exports of Sierra Leone to Latvia have decreased at an annualized rate of 8.23%, from $23.2k in 2023 to $15.1k in 2018.

Exports from Latvia () to Sierra Leone () (2023)

Exports from Sierra Leone () to Latvia () (2023)

Latest Data

Trade between Latvia () and Sierra Leone ()

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Latvia
Top DestinationLithuania$3.77B

Sierra Leone
Top DestinationChina$1.03B

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

In 2023, countries that imported more from Latvia than Sierra Leone included Lithuania ($3.77B), Estonia ($1.26B), and Russia ($1.22B).

In 2023, countries that imported more from Sierra Leone than Latvia included China ($1.03B), India ($96.5M), and Central African Republic ($96.9k).

Difference in imports from Sierra Leone () and Latvia () (2023)

Comparative Advantage Latvia - Sierra Leone

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Latvia had a large net trade with Sierra Leone in the exports of Vegetable Products ($2.73M), Machines ($125k), and Chemical Products ($110k).

During 2018, Sierra Leone had a large net trade with Latvia in the exports of Machines ($15.1k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Latvia Sierra Leone+$29.2kTelephones

Top Product Potential Sierra Leone Latvia+$1.95kRough Wood

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

About

Historical Data

Bilateral Trade by Products

Exports from Latvia () to Sierra Leone () (2023)

Exports from Sierra Leone () to Latvia () (2023)

Latest Data

Trade between Latvia () and Sierra Leone ()

Latvia Exports

Market Competitiveness

Difference in imports from Sierra Leone () and Latvia () (2023)

Comparative Advantage Latvia - Sierra Leone

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Latvia () and Sierra Leone () (2023)

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