Overview: In 2018 Latvia was the number 99 economy in the world in terms of GDP (current US$), the number 78 in total exports, the number 74 in total imports, and the number 36 most complex economy according to the Economic Complexity Index (ECI). In 2018, Latvia exported $15.8B and imported $22B, resulting in a negative trade balance of -$6.23B. In 2018, Latvia's exports per capita were $8.2k and its imports per capita were $11.4k.
Trade: The top exports of Latvia are Sawn Wood ($867M), Broadcasting Equipment ($703M), Hard Liquor ($561M), Packaged Medicaments ($501M), and Refined Petroleum ($495M). The top imports of Latvia are Refined Petroleum ($2.83B), Cars ($718M), Broadcasting Equipment ($689M), Packaged Medicaments ($597M), and Planes, Helicopters, and/or Spacecraft ($549M).
Destinations: Latvia exports mostly to Lithuania ($2.25B), Estonia ($1.45B), Russia ($1.32B), Sweden ($1.09B), and Germany ($1.09B), and imports mostly from Russia ($4.18B), Lithuania ($3.04B), Germany ($1.97B), Poland ($1.6B), and Estonia ($1.35B).
Location: Latvia borders Belarus, Estonia, Lithuania, and Russia by land and Sweden by sea.