Iraq (IRQ) and Latvia (LVA) Trade | The Observatory of Economic Complexity

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Iraq-Latvia Trade: In 2023, Iraq exported $60.8k to Latvia. The main products that Iraq exported to Latvia were Hard Liquor ($60.3k) and Broadcasting Equipment ($422). Over the past 6 years the exports of Iraq to Latvia have increased at an annualized rate of 93.3%, from $1.16k in 2017 to $60.8k in 2023.

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

Latvia-Iraq Trade: In 2023, Latvia exported $2.85M to Iraq. The main products that Latvia exported to Iraq were Peat ($745k), Packaged Medicaments ($591k), and Hard Liquor ($329k). Over the past 6 years the exports of Latvia to Iraq have increased at an annualized rate of 4.4%, from $2.3M in 2017 to $2.85M in 2023.

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

Comparison In 2023, Iraq ranked 97 in the Economic Complexity Index (ECI -0.71), and 40 in total exports ($107B). 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, Iraq exported $60.8k to Latvia. The main products exported from Iraq to Latvia were Hard Liquor ($60.3k) and Broadcasting Equipment ($422). During the last 6 years the exports of Iraq to Latvia have increased at an annualized rate of 93.3%, from $1.16k in 2017 to $60.8k in 2023.

In 2018, Latvia exported $2.85M to Iraq. The main products exported from Latvia to Iraq were Peat ($745k), Packaged Medicaments ($591k), and Hard Liquor ($329k). During the last 5 years the exports of Latvia to Iraq have increased at an annualized rate of 4.4%, from $2.3M in 2023 to $2.85M in 2018.

Exports from Iraq () to Latvia () (2023)

Exports from Latvia () to Iraq () (2023)

Latest Data

Trade between Iraq () and Latvia ()

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iraq
Top DestinationChina$35.5B

Latvia
Top DestinationLithuania$3.77B

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

In 2023, countries that imported more from Iraq than Latvia included China ($35.5B), India ($29.8B), and United States ($8.92B).

In 2023, countries that imported more from Latvia than Iraq included Lithuania ($3.77B), Estonia ($1.26B), and Russia ($1.22B).

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

Comparative Advantage Iraq - Latvia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Iraq had a large net trade with Latvia in the exports of Foodstuffs ($60.3k) and Machines ($422).

During 2018, Latvia had a large net trade with Iraq in the exports of Chemical Products ($769k), Mineral Products ($745k), and Machines ($659k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Iraq Latvia+$6.72kTelephones

Top Product Potential Latvia Iraq+$1.73MTelephones

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Iraq () to Latvia () (2023)

Exports from Latvia () to Iraq () (2023)

Latest Data

Trade between Iraq () and Latvia ()

Latvia Exports

Market Competitiveness

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

Comparative Advantage Iraq - Latvia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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