Latvia (LVA) and Sweden (SWE) Trade | The Observatory of Economic Complexity

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Latvia-Sweden In 2022, Latvia exported $1.19B to Sweden. The main products that Latvia exported to Sweden are 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.

Sweden-Latvia In 2022, Sweden exported $675M to Latvia. The main products that Sweden exported 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 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.

Comparison In 2022, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index. That same year, Sweden ranked 9 in the Economic Complexity Index (ECI 1.49), and 33 in total exports ($194B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

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.

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.

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

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

Latest Data

Trade between Latvia () and Sweden ()

Latvia Exports

Date

Sweden Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Latvia
Top DestinationLithuania$4.09B

Sweden
Top DestinationGermany$19.2B

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

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

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

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

Comparative Advantage Latvia - Sweden

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

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

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

Service Trade

Bilateral Service Trade

Swe Year

Lva Year

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.

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.

Service trade data is presented based on availability.

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

Services Exports from Sweden () to Latvia () (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 Latvia has comparative advantage over Sweden. Similarly, the more yellow a dot/product is, the more Sweden has comparative advantage over Latvia.

About

Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Latvia () and Sweden ()

Latvia Exports

Sweden Exports

Market Competitiveness

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

Comparative Advantage Latvia - Sweden

Service Trade

Bilateral Service Trade

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

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

Economic Complexity

Competitive Landscape

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

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