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2022
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Exports $675MRnk 39 / 217
2022
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Top Product $42.8MTractors
2022
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Exports $1.19BRnk 5 / 194
2022
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Top Product $155MRough Wood
2022
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Economic Complexity (ECI) ECI 1.5Rnk 7 / 124
2022
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GDP$586BCURRENT US$
Rnk 23 / 186
2012-2022
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GDP GROWTH6.06%CURRENT US$
Rnk 151 / 186
2022
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 GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
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GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
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GDP PC $55,873CURRENT US$
Rnk 13 / 186
2012-2022
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GDP PC GROWTH-3.73%CURRENT US$
Rnk 149 / 186
2022
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GDP PC$21,851CURRENT US$
Rnk 47 / 186
2012-2022
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GDP PC GROWTH57.8%CURRENT US$
Rnk 30 / 186

About

Sweden-Latvia In 2022, Sweden exported $675M to Latvia. The main products that Sweden exported to Latvia are Tractors ($42.8M), Rough Wood ($33.5M), and Non-fillet Fresh Fish ($24.7M). During the last 27 years the exports of Sweden to Latvia have increased at an annualized rate of 5.03%, from $179M in 1995 to $675M in 2022.

In 2020, Sweden exported services to Latvia worth $128M, with Other business services ($40.2M), Transportation ($17M), and Computer and information services ($16.6M) being the largest in terms of value.

Latvia-Sweden In 2022, Latvia exported $1.19B to Sweden. The main products that Latvia exported to Sweden were Rough Wood ($155M), Fuel Wood ($79.3M), and Cement Articles ($74.5M). During the last 27 years the exports of Latvia to Sweden have increased at an annualized rate of 4.78%, from $338M in 1995 to $1.19B in 2022.

In 2020, Latvia exported services to Sweden worth $636M, with Construction services ($177M), Communications services ($168M), and Transportation ($136M) being the largest in terms of value.

Comparison In 2022,  Sweden ranked 7 in the Economic Complexity Index (ECI 1.5),  and 33 in total exports ($194B). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Latest Trends

December, 2023

About

Overview In December 2023, Sweden exported SEK426M and imported SEK576M from Latvia, resulting in a negative trade balance of SEK150M. Between December 2022 and December 2023 the exports of Sweden have decreased by SEK-13.7M (-3.12%) from SEK440M to SEK426M, while imports decreased by SEK-351M (-37.9%) from SEK927M to SEK576M.

Trade In December 2023, the top exports of Sweden to Latvia were Refined Petroleum (SEK165M), Flat Flat-Rolled Steel (SEK29.4M), Non-fillet Frozen Fish (SEK27.8M), Non-fillet Fresh Fish (SEK17.3M), and Sawn Wood (SEK16.3M). In December 2023 the top imports of Sweden from Latvia were Rough Wood (SEK193M), Fuel Wood (SEK162M), Refined Petroleum (SEK55.2M), Iron Structures (SEK48.2M), and Cement Articles (SEK46.2M).

Growth In December 2023, the decrease in Sweden's year-by-year exports to Latvia was explained primarily by an decrease in product exports in Rubber Tires (SEK-5.91M or -85.5%), Large Flat-Rolled Stainless Steel (SEK-2.92M or -64.5%), and Hard Liquor (SEK-2.64M or -50%). In December 2023, the decrease in Sweden's year-by-year imports  from Latvia was explained primarily by an decrease in product imports  in Nitrogenous Fertilizers (SEK-13.9M or -74.4%), Other Furniture (SEK-6.42M or -37.9%), and Cement Articles (SEK-4.3M or -8.5%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (December 2022 - December 2023)SEK-13.7M(-3.12%)
IMPORT GROWTH (December 2022 - December 2023)SEK-351M(-37.9%)

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

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

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Sweden exported $675M to Latvia. The main products exported from Sweden to Latvia were Tractors ($42.8M), Rough Wood ($33.5M), and Non-fillet Fresh Fish ($24.7M). During the last 27 years the exports of Sweden to Latvia have increased at an annualized rate of 5.03%, from $179M in 1995 to $675M in 2022.

In 2022, Latvia exported $1.19B to Sweden. The main products exported from Latvia to Sweden were Rough Wood ($155M), Fuel Wood ($79.3M), and Cement Articles ($74.5M). During the last 27 years the exports of Latvia to Sweden have increased at an annualized rate of 4.78%, from $338M in 1995 to $1.19B in 2022.

Exports from Sweden (Flag) to Latvia (Flag) (2022)

Exports from Latvia (Flag) to Sweden (Flag) (2022)

Market Competitiveness

Color
Sweden
Top DestinationGermany$19.2B
Latvia
Top DestinationLithuania$4.09B

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

In 2021, countries that imported more from Sweden than Latvia were Norway ($18.7B), Germany ($19.2B), and United States ($17.8B).

In 2021, countries that imported more from Latvia than Sweden were Lithuania ($4.09B), Estonia ($2.26B), and Nigeria ($512M).

Difference in imports from Latvia (Flag) and Sweden (Flag) (2022)

Comparative Advantage Sweden - Latvia

Flow
Scale

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

During 2022, Sweden had a large net trade with Latvia in the exports of Machines ($148M), Transportation ($86M), and Metals ($70.2M).

During 2022, Latvia had a large net trade with Sweden in the exports of Wood Products ($366M), Metals ($193M), and Machines ($105M).

Service Trade

Bilateral Service Trade

In 2020, Sweden exported services to Latvia worth $128M, with Other business services ($40.2M), Transportation ($17M), and Computer and information services ($16.6M) being the largest in terms of value.

In 2020, Latvia exported services to Sweden worth $636M, with Construction services ($177M), Communications services ($168M), and Transportation ($136M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Sweden (Flag) to Latvia (Flag) (2020)

Services Exports from Latvia (Flag) to Sweden (Flag) (2020)

Economic Complexity

Competitive Landscape

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

Product Space of Sweden (Flag) and Latvia (Flag) (2022)

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