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Pricing

2022
Flag → Flag
Exports $3.4MRnk 65 / 162
2022
Flag → Flag
Top Product $1.16MCentral Heating Boilers
2022
Flag → Flag
Exports $5.85MRnk 88 / 194
2022
Flag → Flag
Top Product $1.63MGlass Fibers
2022
Flag
Economic Complexity (ECI) ECI 0.67Rnk 39 / 133
2022
Flag  
GDP$24.5BCURRENT US$
Rnk 110 / 186
2012-2022
Flag
GDP GROWTH42.4%CURRENT US$
Rnk 81 / 186
2022
Flag
 GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
Flag
GDP PC $7,585CURRENT US$
Rnk 88 / 186
2012-2022
Flag
GDP PC GROWTH61.8%CURRENT US$
Rnk 25 / 186
2022
Flag
GDP PC$21,851CURRENT US$
Rnk 47 / 186
2012-2022
Flag
GDP PC GROWTH57.8%CURRENT US$
Rnk 30 / 186

About

Bosnia and Herzegovina-Latvia Trade: In 2022, Bosnia and Herzegovina exported $3.4M to Latvia. The main products that Bosnia and Herzegovina exported to Latvia were Central Heating Boilers ($1.16M), Prefabricated Buildings ($928k), and Iron Stovetops ($353k). Over the past 5 years the exports of Bosnia and Herzegovina to Latvia have increased at an annualized rate of 11.6%, from $1.96M in 2017 to $3.4M in 2022.

In 2019, Bosnia and Herzegovina exported services to Latvia worth $1.01M, with Travel ($896k) and Transportation ($112k) being the largest in terms of value.

Latvia-Bosnia and Herzegovina Trade: In 2022, Latvia exported $5.85M to Bosnia and Herzegovina. The main products that Latvia exported to Bosnia and Herzegovina were Glass Fibers ($1.63M), Seats ($597k), and Integrated Circuits ($579k). Over the past 5 years the exports of Latvia to Bosnia and Herzegovina have increased at an annualized rate of 11%,  from $3.47M in 2017 to $5.85M in 2022.

In 2022, Latvia did not export any services to Bosnia and Herzegovina.

Comparison In 2022,  Bosnia and Herzegovina ranked 39 in the Economic Complexity Index (ECI 0.67),  and 102 in total exports ($10.2B). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Bosnia and Herzegovina exported $3.4M to Latvia. The main products exported from Bosnia and Herzegovina to Latvia were Central Heating Boilers ($1.16M), Prefabricated Buildings ($928k), and Iron Stovetops ($353k). During the last 5 years the exports of Bosnia and Herzegovina to Latvia have increased at an annualized rate of 11.6%, from $1.96M in 2017 to $3.4M in 2022.

In 2017, Latvia exported $5.85M to Bosnia and Herzegovina. The main products exported from Latvia to Bosnia and Herzegovina were Glass Fibers ($1.63M), Seats ($597k), and Integrated Circuits ($579k). During the last 5 years the exports of Latvia to Bosnia and Herzegovina have increased at an annualized rate of 11%, from $3.47M in 2022 to $5.85M in 2017.

Exports from Bosnia and Herzegovina (Flag) to Latvia (Flag) (2022)

Exports from Latvia (Flag) to Bosnia and Herzegovina (Flag) (2022)

Latest Data

Trade between Bosnia and Herzegovina (Flag) and Latvia (Flag)

Bosnia and Herzegovina Exports

Latvia Exports

Market Competitiveness

Color
Bosnia and Herzegovina
Top DestinationCroatia$1.47B
Latvia
Top DestinationLithuania$4.09B

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

In 2022, countries that imported more from Bosnia and Herzegovina than Latvia included Croatia ($1.47B), Serbia ($1.35B), and Austria ($942M).

In 2022, countries that imported more from Latvia than Bosnia and Herzegovina included Lithuania ($4.09B), Estonia ($2.26B), and Russia ($1.26B).

Difference in imports from Latvia (Flag) and Bosnia and Herzegovina (Flag) (2022)

Comparative Advantage Bosnia and Herzegovina - Latvia

Flow
Scale

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

During 2022, Bosnia and Herzegovina had a large net trade with Latvia in the exports of Machines ($1.5M), Miscellaneous ($1.1M), and Metals ($388k).

During 2017, Latvia had a large net trade with Bosnia and Herzegovina in the exports of Stone And Glass ($1.64M), Machines ($1.36M), and Mineral Products ($710k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Bosnia and Herzegovina Latvia+$287kOther Furniture
Top Product Potential Latvia Bosnia and Herzegovina+$1.31MRefined Petroleum

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 Bosnia and Herzegovina and Latvia. This means that a dot/product with the flag of Bosnia and Herzegovina indicates it has a comparative advantage over Latvia. Similarly, a dot/product with the flag of Latvia indicates it has a comparative advantage over Bosnia and Herzegovina.

Product Space of Bosnia and Herzegovina (Flag) and Latvia (Flag) (2022)

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