Czechia (CZE) and Latvia (LVA) Trade | The Observatory of Economic Complexity

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Czechia-Latvia Trade: In 2023, Czechia exported $493M to Latvia. The main products that Czechia exported to Latvia were Self-Propelled Rail Transport ($136M), Packaged Medicaments ($21.5M), and Broadcasting Equipment ($16.1M). Over the past 5 years the exports of Czechia to Latvia have increased at an annualized rate of 13.1%, from $266M in 2018 to $493M in 2023.

In 2019, Czechia exported services to Latvia worth $28.4M, with Transportation ($12M), Travel ($12M), and Other business services ($2.35M) being the largest in terms of value.

Latvia-Czechia Trade: In 2023, Latvia exported $198M to Czechia. The main products that Latvia exported to Czechia were Broadcasting Equipment ($26.1M), Packaged Medicaments ($13.7M), and Eggs ($11.4M). Over the past 5 years the exports of Latvia to Czechia have increased at an annualized rate of 2.84%, from $173M in 2018 to $198M in 2023.

In 2020, Latvia exported services to Czechia worth $20.6M, with Other business services ($8M), Computer and information services ($4.57M), and Transportation ($3.43M) being the largest in terms of value.

Comparison In 2023, Czechia ranked 7 in the Economic Complexity Index (ECI 1.6), and 30 in total exports ($224B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Czechia exported $493M to Latvia. The main products exported from Czechia to Latvia were Self-Propelled Rail Transport ($136M), Packaged Medicaments ($21.5M), and Broadcasting Equipment ($16.1M). During the last 5 years the exports of Czechia to Latvia have increased at an annualized rate of 13.1%, from $266M in 2018 to $493M in 2023.

In 2018, Latvia exported $198M to Czechia. The main products exported from Latvia to Czechia were Broadcasting Equipment ($26.1M), Packaged Medicaments ($13.7M), and Eggs ($11.4M). During the last 5 years the exports of Latvia to Czechia have increased at an annualized rate of 2.84%, from $173M in 2023 to $198M in 2018.

Exports from Czechia () to Latvia () (2023)

Exports from Latvia () to Czechia () (2023)

Latest Data

Trade between Czechia () and Latvia ()

Czechia Exports

Date

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Czechia
Top DestinationGermany$64.2B

Latvia
Top DestinationLithuania$3.77B

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

In 2023, countries that imported more from Czechia than Latvia included Germany ($64.2B), Slovakia ($15.8B), and Poland ($13.8B).

In 2023, countries that imported more from Latvia than Czechia included Lithuania ($3.77B), Estonia ($1.26B), and Nigeria ($717M).

Difference in imports from Latvia () and Czechia () (2023)

Comparative Advantage Czechia - Latvia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Czechia had a large net trade with Latvia in the exports of Transportation ($178M), Machines ($126M), and Chemical Products ($46.2M).

During 2018, Latvia had a large net trade with Czechia in the exports of Machines ($45.9M), Chemical Products ($25.3M), and Animal Products ($21.8M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Czechia Latvia+$11.3MTelephones

Top Product Potential Latvia Czechia+$14MTelephones

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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Bilateral Service Trade

Lva Year

Cze Year

In 2019, Czechia exported services to Latvia worth $28.4M, with Transportation ($12M), Travel ($12M), and Other business services ($2.35M) being the largest in terms of value.

In 2020, Latvia exported services to Czechia worth $20.6M, with Other business services ($8M), Computer and information services ($4.57M), and Transportation ($3.43M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Czechia () to Latvia () (2019)

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Czechia () to Latvia () (2023)

Exports from Latvia () to Czechia () (2023)

Latest Data

Trade between Czechia () and Latvia ()

Czechia Exports

Latvia Exports

Market Competitiveness

Difference in imports from Latvia () and Czechia () (2023)

Comparative Advantage Czechia - Latvia

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Czechia () to Latvia () (2019)

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

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Czechia () and Latvia () (2023)

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