Netherlands (NLD) and Latvia (LVA) Trade | The Observatory of Economic Complexity

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Netherlands-Latvia In 2022, Netherlands exported $1.05B to Latvia. The main products that Netherlands exported to Latvia are Packaged Medicaments ($62.8M), Refined Petroleum ($37.4M), and Industrial Fatty Acids, Oils and Alcohols ($36.3M). During the last 27 years the exports of Netherlands to Latvia have increased at an annualized rate of 8.66%, from $112M in 1995 to $1.05B in 2022.

In 2020, Netherlands exported services to Latvia worth $160M, with Transportation ($65.8M), Travel ($39.5M), and Other business services ($24.2M) being the largest in terms of value.

Latvia-Netherlands In 2022, Latvia exported $960M to Netherlands. The main products that Latvia exported to Netherlands were Industrial Fatty Acids, Oils and Alcohols ($87M), Sawn Wood ($79M), and Rapeseed ($70.9M). During the last 27 years the exports of Latvia to Netherlands have increased at an annualized rate of 7.36%, from $141M in 1995 to $960M in 2022.

In 2020, Latvia exported services to Netherlands worth $132M, with Transportation ($64M), Other business services ($35.4M), and Personal, cultural, and recreational services ($14.8M) being the largest in terms of value.

Comparison In 2022, Netherlands ranked 20 in the Economic Complexity Index (ECI 1.1), and 6 in total exports ($674B). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Latest Trends

October, 2022

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Overview In October 2022, Netherlands exported €59M and imported €39M from Latvia, resulting in a positive trade balance of €20M. Between October 2021 and October 2022 the exports of Netherlands have increased by €1M (1.72%) from €58M to €59M, while imports decreased by €-17M (-30.4%) from €56M to €39M.

Trade In October 2022, the top exports of Netherlands to Latvia were Medicaments (including veterinary medicaments) (€8M), Crude vegetable materials, n.e.s. (€4M), Fruit and nuts (not including oil... (€3M), Vegetables, fresh, chilled, frozen or simply... (€2M), and Automatic data-processing machines and units thereof;... (€2M). In October 2022 the top imports of Netherlands from Latvia were Wood in chips or particles and... (€6M), Wood, simply worked, and railway sleepers... (€5M), Veneers, plywood, particle board, and other... (€4M), Feeding stuff for animals (not including... (€2M), and Hydrocarbons, n.e.s., and their halogenated, sulphonated,... (€2M).

Growth In October 2022, the increase in Netherlands's year-by-year exports to Latvia was explained primarily by an increase in product exports in Medicaments (including veterinary medicaments) (€5M or 167%). In October 2022, the decrease in Netherlands's year-by-year imports from Latvia was explained primarily by an decrease in product imports in Wood in chips or particles and... (€-7M or -53.8%), Feeding stuff for animals (not including... (€-3M or -60%), and Veneers, plywood, particle board, and other... (€-2M or -33.3%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (October 2021 - October 2022)€1M(1.72%)

IMPORT GROWTH (October 2021 - October 2022)€-17M(-30.4%)

This section shows exports and imports data at subnational level for Netherlands. Click any date in the line plot or any product to explore the exports or imports behavior of Netherlands over time.

To check Latvia and Netherlands trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Netherlands exported $1.05B to Latvia. The main products exported from Netherlands to Latvia were Packaged Medicaments ($62.8M), Refined Petroleum ($37.4M), and Industrial Fatty Acids, Oils and Alcohols ($36.3M). During the last 27 years the exports of Netherlands to Latvia have increased at an annualized rate of 8.66%, from $112M in 1995 to $1.05B in 2022.

In 2022, Latvia exported $960M to Netherlands. The main products exported from Latvia to Netherlands were Industrial Fatty Acids, Oils and Alcohols ($87M), Sawn Wood ($79M), and Rapeseed ($70.9M). During the last 27 years the exports of Latvia to Netherlands have increased at an annualized rate of 7.36%, from $141M in 1995 to $960M in 2022.

Exports from Netherlands () to Latvia () (2022)

Exports from Latvia () to Netherlands () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Netherlands
Top DestinationGermany$131B

Latvia
Top DestinationLithuania$4.09B

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

In 2021, countries that imported more from Netherlands than Latvia were Germany ($131B), Belgium ($94.3B), and France ($59.9B).

In 2021, countries that imported more from Latvia than Netherlands were Lithuania ($4.09B), Estonia ($2.26B), and Belarus ($194M).

Difference in imports from Latvia () and Netherlands () (2022)

Comparative Advantage Netherlands - Latvia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Netherlands had a large net trade with Latvia in the exports of Machines ($254M), Chemical Products ($171M), and Vegetable Products ($143M).

During 2022, Latvia had a large net trade with Netherlands in the exports of Chemical Products ($191M), Vegetable Products ($157M), and Wood Products ($154M).

Service Trade

Bilateral Service Trade

Lva Year

Nld Year

In 2020, Netherlands exported services to Latvia worth $160M, with Transportation ($65.8M), Travel ($39.5M), and Other business services ($24.2M) being the largest in terms of value.

In 2020, Latvia exported services to Netherlands worth $132M, with Transportation ($64M), Other business services ($35.4M), and Personal, cultural, and recreational services ($14.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Netherlands () to Latvia () (2020)

Services Exports from Latvia () to Netherlands () (2020)

Economic Complexity

Competitive Landscape

Year

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 Netherlands has comparative advantage over Latvia. Similarly, the more yellow a dot/product is, the more Latvia has comparative advantage over Netherlands.

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Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from Netherlands () to Latvia () (2022)

Exports from Latvia () to Netherlands () (2022)

Market Competitiveness

Difference in imports from Latvia () and Netherlands () (2022)

Comparative Advantage Netherlands - Latvia

Service Trade

Bilateral Service Trade

Services Exports from Netherlands () to Latvia () (2020)

Services Exports from Latvia () to Netherlands () (2020)

Economic Complexity

Competitive Landscape

Product Space of Netherlands () and Latvia () (2022)

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