Overview: This page contains the latest international trade data for Latvia, including service trade data, and tariffs. 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.