Iceland / Latvia

Iceland-Latvia Trade: In 2023, Iceland exported $20.3M to Latvia. The main products that Iceland exported to Latvia were Scrap Iron ($9.81M), Non-fillet Frozen Fish ($4.06M), and Non-fillet Fresh Fish ($2.15M). Over the past 5 years the exports of Iceland to Latvia have increased at an annualized rate of 12.2%, from $11.4M in 2018 to $20.3M in 2023.

In 2019, Iceland exported services to Latvia worth $7.5M, with Travel ($3.92M), Other business services ($2.57M), and Transportation ($784k) being the largest in terms of value.

Latvia-Iceland Trade: In 2023, Latvia exported $72M to Iceland. The main products that Latvia exported to Iceland were Wood Carpentry ($12.8M), Prefabricated Buildings ($10.9M), and Iron Structures ($8.36M). Over the past 5 years the exports of Latvia to Iceland have increased at an annualized rate of 6.69%,  from $52.1M in 2018 to $72M in 2023.

In 2020, Latvia exported services to Iceland worth $2.28M, with Travel ($1.14M) and Other business services ($1.14M) being the largest in terms of value.

Comparison In 2023,  Iceland ranked 115 in total exports ($7.31B). That same year, Latvia ranked 80 in total exports ($19.9B). Both countries does not have data related to Economic Complexity Index.