Italy / Latvia

Italy-Latvia Trade: In 2022, Italy exported $782M to Latvia. The main products that Italy exported to Latvia were Wine ($78.7M), Vermouth ($25.8M), and Hard Liquor ($18.2M). Over the past 5 years the exports of Italy to Latvia have increased at an annualized rate of 8.81%, from $513M in 2017 to $782M in 2022.

In 2020, Italy exported services to Latvia worth $50.3M, with Travel ($21.8M), Transportation ($11.9M), and Other business services ($10.4M) being the largest in terms of value.

Latvia-Italy Trade: In 2022, Latvia exported $336M to Italy. The main products that Latvia exported to Italy were Fuel Wood ($31.7M), Peat ($29.5M), and Industrial Fatty Acids, Oils and Alcohols ($22.5M). Over the past 5 years the exports of Latvia to Italy have increased at an annualized rate of 7.39%,  from $190M in 2017 to $336M in 2022.

In 2020, Latvia exported services to Italy worth $89.1M, with Transportation ($68.5M), Computer and information services ($9.14M), and Other business services ($6.85M) being the largest in terms of value.

Comparison In 2022,  Italy ranked 17 in the Economic Complexity Index (ECI 1.29),  and 7 in total exports ($634B). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.