Belarus / Latvia

Belarus-Latvia Trade: In 2023, Belarus exported $187M to Latvia. The main products that Belarus exported to Latvia were Rapeseed Oil ($65M), Insulated Wire ($16.9M), and Other Vegetable Residues ($8.37M). Over the past 5 years the exports of Belarus to Latvia have decreased at an annualized rate of 17%, from $477M in 2018 to $187M in 2023.

In 2014, Belarus exported services to Latvia worth $13.4M, with Royalties and license fees ($6.04M), Computer and information services ($4.39M), and Government services, n.i.e. ($2.53M) being the largest in terms of value.

Latvia-Belarus Trade: In 2023, Latvia exported $185M to Belarus. The main products that Latvia exported to Belarus were Packaged Medicaments ($33.2M), Used Clothing ($23.4M), and Medical Instruments ($8.86M). Over the past 5 years the exports of Latvia to Belarus have increased at an annualized rate of 2.95%,  from $160M in 2018 to $185M in 2023.

In 2001, Latvia exported services to Belarus worth $31.5M, with Transportation ($18.9M), Other business services ($7.87M), and Government services, n.i.e. ($1.57M) being the largest in terms of value.

Comparison In 2023,  Belarus ranked 33 in the Economic Complexity Index (ECI 0.81),  and 114 in total exports ($7.61B). That same year, Latvia ranked 80 in total exports ($19.9B), and does not have data regarding Economic Complexity Index.