2022
Exports | Imports
$605M | $714MWorld Rnk 40 / 217
Flag Rnk 7 / 1190
World Rnk 62 / 224
Flag Rnk 5 / 1203
2022
PRODUCT COMPLEXITY IN Packaged Medicaments
0.73Rnk 276 / 1025

About

Exports In 2022, Latvia exported $605M in Packaged Medicaments, making it the 40th largest exporter of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 7th most exported product in Latvia. The main destination of Packaged Medicaments exports from Latvia are: Lithuania ($125M), Russia ($112M), Estonia ($54.5M), Germany ($45M), and Uzbekistan ($37.1M).

The fastest growing export markets for Packaged Medicaments of Latvia between 2021 and 2022 were Netherlands ($12.7M), Slovakia ($10.2M), and Russia ($6.54M).

Imports In 2022, Latvia imported $714M in Packaged Medicaments, becoming the 62nd largest importer of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 5th most imported product in Latvia. Latvia imports Packaged Medicaments primarily from: Lithuania ($175M), Netherlands ($62.8M), Switzerland ($57.1M), Germany ($50.7M), and Denmark ($47.1M).

The fastest growing import markets in Packaged Medicaments for Latvia between 2021 and 2022 were Slovenia ($16.3M), India ($14.8M), and Switzerland ($8.66M).

COMPANIES In 2023, leading companies such as were at the forefront of shipping Packaged Medicaments from Latvia to the United States.

Latest Trends

Feb 2024

Subnational Monthly Trade

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Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Packaged Medicaments. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$605M
IMPORTS (2022)$714M
NET TRADE (2022)-$109M

In 2022, Latvia exported $605M in Packaged Medicaments. The main destinations of Latvia exports on Packaged Medicaments were Lithuania ($125M), Russia ($112M), Estonia ($54.5M), Germany ($45M), and Uzbekistan ($37.1M).

In 2022, Latvia imported $714M in Packaged Medicaments, mainly from Lithuania ($175M), Netherlands ($62.8M), Switzerland ($57.1M), Germany ($50.7M), and Denmark ($47.1M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Packaged Medicaments EXPORT MARKETS FOR Latvia WERE (2021 - 2022):
Netherlands$12.7M (65.4%)
Slovakia$10.2M (208%)
Russia$6.54M (6.18%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packaged Medicaments BY Latvia WERE (2021 - 2022):
Lithuania-$24M (-16.1%)
Ukraine-$19.1M (-50.8%)
Brazil-$15.7M (-93%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Latvia's main exporting competitors in Packaged Medicaments were:
In 2022, Latvia's main importing competitors in Packaged Medicaments were:

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Trade Value of Packaged Medicaments by Exporters

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