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2023
Flag → Flag
Exports $55.9MRnk 127 / 216
2023
Flag → Flag
Top Product $36.7MHard Liquor
2023
Flag → Flag
Exports $102MRnk 26 / 198
2023
Flag → Flag
Top Product $33.2MBroadcasting Equipment
2023
Flag
Economic Complexity (ECI) ECI 0.15Rnk 54 / 132
2023
Flag  
GDP$514BCURRENT US$
Rnk 27 / 195
2013-2023
Flag
GDP GROWTH28.5%CURRENT US$
Rnk 118 / 195
2023
Flag
 GDP$42.2BCURRENT US$
Rnk 100 / 195
2013-2023
Flag
GDP GROWTH44.9%CURRENT US$
Rnk 86 / 195
2023
Flag
GDP PC $49,041CURRENT US$
Rnk 27 / 195
2013-2023
Flag
GDP PC GROWTH-5.73%CURRENT US$
Rnk 161 / 195
2023
Flag
GDP PC$22,503CURRENT US$
Rnk 56 / 196
2013-2023
Flag
GDP PC GROWTH55.4%CURRENT US$
Rnk 37 / 195

About

United Arab Emirates-Latvia Trade: In 2023, United Arab Emirates exported $55.9M to Latvia. The main products that United Arab Emirates exported to Latvia were Hard Liquor ($36.7M), Refined Petroleum ($1.84M), and Sports Equipment ($1.51M). Over the past 5 years the exports of United Arab Emirates to Latvia have increased at an annualized rate of 22.2%, from $20.5M in 2018 to $55.9M in 2023.

In 2023, United Arab Emirates did not export any services to Latvia.

Latvia-United Arab Emirates Trade: In 2023, Latvia exported $102M to United Arab Emirates. The main products that Latvia exported to United Arab Emirates were Broadcasting Equipment ($33.2M), Sawn Wood ($12.9M), and Iron Pipe Fittings ($12.3M). Over the past 5 years the exports of Latvia to United Arab Emirates have increased at an annualized rate of 6.28%,  from $59.1M in 2018 to $102M in 2023.

In 2023, Latvia did not export any services to United Arab Emirates.

Comparison In 2023,  United Arab Emirates ranked 54 in the Economic Complexity Index (ECI 0.15),  and 21 in total exports ($357B). That same year, Latvia ranked 80 in total exports ($19.9B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, United Arab Emirates exported $55.9M to Latvia. The main products exported from United Arab Emirates to Latvia were Hard Liquor ($36.7M), Refined Petroleum ($1.84M), and Sports Equipment ($1.51M). During the last 5 years the exports of United Arab Emirates to Latvia have increased at an annualized rate of 22.2%, from $20.5M in 2018 to $55.9M in 2023.

In 2018, Latvia exported $102M to United Arab Emirates. The main products exported from Latvia to United Arab Emirates were Broadcasting Equipment ($33.2M), Sawn Wood ($12.9M), and Iron Pipe Fittings ($12.3M). During the last 5 years the exports of Latvia to United Arab Emirates have increased at an annualized rate of 6.28%, from $59.1M in 2023 to $102M in 2018.

Exports from United Arab Emirates (Flag) to Latvia (Flag) (2023)

Exports from Latvia (Flag) to United Arab Emirates (Flag) (2023)

Latest Data

Trade between United Arab Emirates (Flag) and Latvia (Flag)

United Arab Emirates Exports

Latvia Exports

Market Competitiveness

Color
United Arab Emirates
Top DestinationChina$40.2B
Latvia
Top DestinationLithuania$3.77B

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

In 2023, countries that imported more from United Arab Emirates than Latvia included China ($40.2B), India ($38.2B), and Japan ($37.4B).

In 2023, countries that imported more from Latvia than United Arab Emirates included Lithuania ($3.77B), Estonia ($1.26B), and Sweden ($1.06B).

Difference in imports from Latvia (Flag) and United Arab Emirates (Flag) (2023)

Comparative Advantage United Arab Emirates - Latvia

Flow
Scale

This chart compares trade between United Arab Emirates and Latvia by product, considering products traded by both, United Arab Emirates and Latvia.

During 2023, United Arab Emirates had a large net trade with Latvia in the exports of Foodstuffs ($37.2M), Machines ($4.04M), and Chemical Products ($2.92M).

During 2018, Latvia had a large net trade with United Arab Emirates in the exports of Machines ($44.1M), Metals ($18.4M), and Wood Products ($14.6M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United Arab Emirates Latvia+$1.1MComputers
Top Product Potential Latvia United Arab Emirates+$13.1MTelephones

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of United Arab Emirates and Latvia. This means that a dot/product with the flag of United Arab Emirates indicates it has a comparative advantage over Latvia. Similarly, a dot/product with the flag of Latvia indicates it has a comparative advantage over United Arab Emirates.

Product Space of United Arab Emirates (Flag) and Latvia (Flag) (2023)

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