NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $991MRnk 129 / 208
2023
Flag → Flag
Top Product $126MBroadcasting Equipment
2023
Flag → Flag
Exports $230MRnk 21 / 198
2023
Flag → Flag
Top Product $56.1MPeat
2023
Flag
Economic Complexity (ECI) ECI 1.16Rnk 21 / 132
2023
Flag  
GDP$17.8TCURRENT US$
Rnk 2 / 195
2013-2023
Flag
GDP GROWTH85.9%CURRENT US$
Rnk 22 / 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 $12,614CURRENT US$
Rnk 80 / 195
2013-2023
Flag
GDP PC GROWTH79.7%CURRENT US$
Rnk 17 / 195
2023
Flag
GDP PC$22,503CURRENT US$
Rnk 56 / 196
2013-2023
Flag
GDP PC GROWTH55.4%CURRENT US$
Rnk 37 / 195

About

China-Latvia Trade: In 2023, China exported $991M to Latvia. The main products that China exported to Latvia were Broadcasting Equipment ($126M), Semiconductor Devices ($49.6M), and Industrial Fatty Acids, Oils and Alcohols ($46.5M). Over the past 5 years the exports of China to Latvia have increased at an annualized rate of 7.62%, from $686M in 2018 to $991M in 2023.

In 2023, China did not export any services to Latvia.

Latvia-China Trade: In 2023, Latvia exported $230M to China. The main products that Latvia exported to China were Peat ($56.1M), Rough Wood ($40.8M), and Sawn Wood ($14.3M). Over the past 5 years the exports of Latvia to China have increased at an annualized rate of 1.55%,  from $213M in 2018 to $230M in 2023.

In 2020, Latvia exported services to China worth $46.8M, with Communications services ($40M), Other business services ($4.57M), and Travel ($1.14M) being the largest in terms of value.

Comparison In 2023,  China ranked 21 in the Economic Complexity Index (ECI 1.16),  and 1 in total exports ($3.42T). That same year, Latvia ranked 80 in total exports ($19.9B), and does not have data regarding Economic Complexity Index.

Latest Trends

December, 2024

About

Overview In December 2024, China exported $76.9M and imported $24.7M from Latvia, resulting in a positive trade balance of $52.2M. Between December 2023 and December 2024 the exports of China have decreased by $-1.94M (-2.46%) from $78.8M to $76.9M, while imports decreased by $-834k (-3.27%) from $25.5M to $24.7M.

Trade In December 2024, the top exports of China to Latvia were Telephones ($8M), Commodities not elsewhere specified ($4.58M), Rubber Tires ($2.63M), Semiconductor Devices ($2.38M), and Computers ($2.11M). In December 2024 the top imports of China from Latvia were Scrap Copper ($3.38M), Peat ($3.12M), Rough Wood ($2.68M), Scrap Aluminium ($1.34M), and Electrical Control Boards ($912k).

Origins In December 2024 the exports of China were mainly from Guangdong Province ($24.7M), Jiangsu Province ($12.8M), Zhejiang Province ($11.4M), Shandong Province ($5.9M), and Fujian Province ($5.19M), while imports destinations were mainly Zhejiang Province ($5.37M), Fujian Province ($5.14M), Shanghai Province ($4.55M), Shandong Province ($3.14M), and Guangdong Province ($2.06M).

Growth In December 2024, the decrease in China's year-by-year exports to Latvia was explained primarily by an decrease in product exports in Other Nitrogen Compounds ($-5.58M or -100%), Other Electrical Machinery ($-3.02M or -67.4%), and Drones ($-2.27M or -71.9%). In December 2024, the decrease in China's year-by-year imports  from Latvia was explained primarily by an decrease in product imports  in Rough Wood ($-7.82M or -74.5%), Peat ($-1.91M or -38%), and Motor vehicles; parts and accessories (8701... ($-860k or -99%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-1.94M(-2.46%)
IMPORT GROWTH (December 2023 - December 2024)$-834k(-3.27%)
MAIN EXPORTER (December 2024)Guangdong Province$24.7M

This section shows exports and imports data at subnational level for China. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of China over time.

To check Latvia and China trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Latvia and China Data

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, China exported $991M to Latvia. The main products exported from China to Latvia were Broadcasting Equipment ($126M), Semiconductor Devices ($49.6M), and Industrial Fatty Acids, Oils and Alcohols ($46.5M). During the last 5 years the exports of China to Latvia have increased at an annualized rate of 7.62%, from $686M in 2018 to $991M in 2023.

In 2018, Latvia exported $230M to China. The main products exported from Latvia to China were Peat ($56.1M), Rough Wood ($40.8M), and Sawn Wood ($14.3M). During the last 5 years the exports of Latvia to China have increased at an annualized rate of 1.55%, from $213M in 2023 to $230M in 2018.

Exports from China (Flag) to Latvia (Flag) (2023)

Exports from Latvia (Flag) to China (Flag) (2023)

Market Competitiveness

Color
China
Top DestinationUnited States$436B
Latvia
Top DestinationLithuania$3.77B

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

In 2023, countries that imported more from China than Latvia included United States ($436B), Hong Kong ($259B), and Japan ($169B).

In 2023, countries that imported more from Latvia than China included Lithuania ($3.77B), Guam ($191k), and Falkland Islands ($171k).

Difference in imports from Latvia (Flag) and China (Flag) (2023)

Comparative Advantage China - Latvia

Flow
Scale

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

During 2023, China had a large net trade with Latvia in the exports of Machines ($492M), Chemical Products ($137M), and Plastics and Rubbers ($66.4M).

During 2018, Latvia had a large net trade with China in the exports of Wood Products ($61.8M), Mineral Products ($58.5M), and Machines ($29.9M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential China Latvia+$94.5MTelephones
Top Product Potential Latvia China+$20.8MSawn Wood

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Bilateral Service Trade

In 2020, Latvia exported services to China worth $46.8M, with Communications services ($40M), Other business services ($4.57M), and Travel ($1.14M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Latvia (Flag) to China (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of China (Flag) and Latvia (Flag) (2023)

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms