2022
Flag  
GDP
$13.6BCURRENT US$
Rnk 135 / 186
2012-2022
Flag
GDP GROWTH
39.2%CURRENT US$
Rnk 84 / 186
2022
Flag
 GDP
$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH
46.1%CURRENT US$
Rnk 74 / 186
2022
Flag
GDP PC 
$6,591CURRENT US$
Rnk 100 / 186
2012-2022
Flag
GDP PC GROWTH
39.4%CURRENT US$
Rnk 50 / 186
2022
Flag
GDP PC
$21,851CURRENT US$
Rnk 47 / 186
2012-2022
Flag
GDP PC GROWTH
57.8%CURRENT US$
Rnk 30 / 186

About

North Macedonia-Latvia Trade: In 2022, North Macedonia exported $5.97M to Latvia. The main products that North Macedonia exported to Latvia were Packaged Medicaments ($1.03M), Cabbages ($859k), and Pitted Fruits ($821k). Over the past 5 years the exports of North Macedonia to Latvia have increased at an annualized rate of 22.2%, from $2.19M in 2017 to $5.97M in 2022.

In 2022, North Macedonia did not export any services to Latvia.

Latvia-North Macedonia Trade: In 2022, Latvia exported $2.79M to North Macedonia. The main products that Latvia exported to North Macedonia were Glass Fibers ($628k), Integrated Circuits ($268k), and Peat ($263k). Over the past 5 years the exports of Latvia to North Macedonia have increased at an annualized rate of 4.36%,  from $2.25M in 2017 to $2.79M in 2022.

In 2022, Latvia did not export any services to North Macedonia.

Comparison In 2022,  North Macedonia ranked 52 in the Economic Complexity Index (ECI 0.25),  and 105 in total exports ($9.52B). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, North Macedonia exported $5.97M to Latvia. The main products exported from North Macedonia to Latvia were Packaged Medicaments ($1.03M), Cabbages ($859k), and Pitted Fruits ($821k). During the last 5 years the exports of North Macedonia to Latvia have increased at an annualized rate of 22.2%, from $2.19M in 2017 to $5.97M in 2022.

In 2017, Latvia exported $2.79M to North Macedonia. The main products exported from Latvia to North Macedonia were Glass Fibers ($628k), Integrated Circuits ($268k), and Peat ($263k). During the last 5 years the exports of Latvia to North Macedonia have increased at an annualized rate of 4.36%, from $2.25M in 2022 to $2.79M in 2017.

Exports from North Macedonia (Flag) to Latvia (Flag) (2022)

Exports from Latvia (Flag) to North Macedonia (Flag) (2022)

Latest Data

Trade between North Macedonia (Flag) and Latvia (Flag)

North Macedonia Exports

Latvia Exports

Market Competitiveness

Color
North Macedonia
Top Destination
Germany$3.96B
Latvia
Top Destination
Lithuania$4.09B

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

In 2022, countries that imported more from North Macedonia than Latvia included Germany ($3.96B), Serbia ($800M), and Greece ($683M).

In 2022, countries that imported more from Latvia than North Macedonia included Lithuania ($4.09B), Estonia ($2.26B), and Russia ($1.26B).

Difference in imports from Latvia (Flag) and North Macedonia (Flag) (2022)

Comparative Advantage North Macedonia - Latvia

Flow
Scale

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

During 2022, North Macedonia had a large net trade with Latvia in the exports of Vegetable Products ($3.25M), Chemical Products ($1.03M), and Foodstuffs ($376k).

During 2017, Latvia had a large net trade with North Macedonia in the exports of Machines ($745k), Stone And Glass ($628k), and Chemical Products ($347k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential North Macedonia Latvia+$730kPackaged Medicaments
Top Product Potential Latvia North Macedonia+$321kPackaged Medicaments

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

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

Product Space of North Macedonia (Flag) and Latvia (Flag) (2022)

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