2023
Flag  
GDP
$42.2BCURRENT US$
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2013-2023
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GDP GROWTH
44.9%CURRENT US$
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2023
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GDP PC 
$22,503CURRENT US$
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2013-2023
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GDP PC GROWTH
55.4%CURRENT US$
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About

Latvia-British Virgin Islands Trade: In 2023, Latvia exported $187k to British Virgin Islands. The main products that Latvia exported to British Virgin Islands were Knit T-shirts ($58.1k), Hard Liquor ($49.3k), and Packaged Medicaments ($40.4k). Over the past 5 years the exports of Latvia to British Virgin Islands have decreased at an annualized rate of 9.1%, from $301k in 2018 to $187k in 2023.

In 2023, Latvia did not export any services to British Virgin Islands.

British Virgin Islands-Latvia Trade: In 2023, British Virgin Islands exported $3.43k to Latvia. The main products that British Virgin Islands exported to Latvia were Knit T-shirts ($3.33k) and Hard Liquor ($94). Over the past 5 years the exports of British Virgin Islands to Latvia have increased at an annualized rate of 88.2%,  from $145 in 2018 to $3.43k in 2023.

In 2023, British Virgin Islands did not export any services to Latvia.

Comparison In 2023,  Latvia ranked 80 in total exports ($19.9B). That same year, British Virgin Islands ranked 178 in total exports ($281M). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Latvia exported $187k to British Virgin Islands. The main products exported from Latvia to British Virgin Islands were Knit T-shirts ($58.1k), Hard Liquor ($49.3k), and Packaged Medicaments ($40.4k). During the last 5 years the exports of Latvia to British Virgin Islands have decreased at an annualized rate of 9.1%, from $301k in 2018 to $187k in 2023.

In 2018, British Virgin Islands exported $3.43k to Latvia. The main products exported from British Virgin Islands to Latvia were Knit T-shirts ($3.33k) and Hard Liquor ($94). During the last 5 years the exports of British Virgin Islands to Latvia have increased at an annualized rate of 88.2%, from $145 in 2023 to $3.43k in 2018.

Exports from Latvia (Flag) to British Virgin Islands (Flag) (2023)

Exports from British Virgin Islands (Flag) to Latvia (Flag) (2023)

Latest Data

Trade between Latvia (Flag) and British Virgin Islands (Flag)

Latvia Exports

Market Competitiveness

Color
Latvia
Top Destination
Lithuania$3.77B
British Virgin Islands
Top Destination
Malta$93.7M

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

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

In 2023, countries that imported more from British Virgin Islands than Latvia included Malta ($93.7M), Guyana ($61.6M), and Barbados ($4.1M).

Difference in imports from British Virgin Islands (Flag) and Latvia (Flag) (2023)

Comparative Advantage Latvia - British Virgin Islands

Flow
Scale

This chart compares trade between Latvia and British Virgin Islands by product, considering products traded by both, Latvia and British Virgin Islands.

During 2023, Latvia had a large net trade with British Virgin Islands in the exports of Textiles ($78k), Foodstuffs ($49.3k), and Chemical Products ($40.4k).

During 2018, British Virgin Islands had a large net trade with Latvia in the exports of Textiles ($3.33k) and Foodstuffs ($94).

Economic Complexity

Competitive Landscape

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

Product Space of Latvia (Flag) and British Virgin Islands (Flag) (2023)

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