Libya (LBY) and Latvia (LVA) Trade | The Observatory of Economic Complexity

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Libya-Latvia Trade: In 2022, Libya exported $90 to Latvia. The main products that Libya exported to Latvia were N/A. Over the past 23 years the exports of Libya to Latvia have decreased at an annualized rate of 15%, from $3.78k in 1999 to $90 in 2022.

In 2022, Libya did not export any services to Latvia.

Latvia-Libya Trade: In 2022, Latvia exported $17.8M to Libya. The main products that Latvia exported to Libya were Insulated Wire ($16.1M), Wood Stakes ($331k), and Chocolate ($269k). Over the past 23 years the exports of Latvia to Libya have increased at an annualized rate of 15.2%, from $8.77M in 1999 to $17.8M in 2022.

In 2022, Latvia did not export any services to Libya.

Comparison In 2023, Libya ranked 102 in the Economic Complexity Index (ECI -0.84), and 67 in total exports ($35.4B). 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 2022, Libya exported $90 to Latvia. There were not main exports from Libya to Latvia in 2022. During the last 23 years the exports of Libya to Latvia have decreased at an annualized rate of 15%, from $3.78k in 1999 to $90 in 2022.

In 2018, Latvia exported $17.8M to Libya. The main products exported from Latvia to Libya were Insulated Wire ($16.1M), Wood Stakes ($331k), and Chocolate ($269k). During the last 5 years the exports of Latvia to Libya have increased at an annualized rate of 15.2%, from $8.77M in 2023 to $17.8M in 2018.

Exports from Libya () to Latvia () (2023)

Exports from Latvia () to Libya () (2023)

Latest Data

Trade between Libya () and Latvia ()

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Libya
Top DestinationItaly$7.96B

Latvia
Top DestinationLithuania$3.77B

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

In 2023, countries that imported more from Libya than Latvia included Italy ($7.96B), Germany ($5.16B), and Spain ($3.08B).

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

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

Comparative Advantage Libya - Latvia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Libya had a large net trade with Latvia in the exports of .

During 2018, Latvia had a large net trade with Libya in the exports of Machines ($16.1M), Mineral Products ($473k), and Foodstuffs ($440k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Libya Latvia+$5.05kPetroleum Gas

Top Product Potential Latvia Libya+$1.06MRefined Petroleum

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 Libya and Latvia. This means that a dot/product with the flag of Libya indicates it has a comparative advantage over Latvia. Similarly, a dot/product with the flag of Latvia indicates it has a comparative advantage over Libya.

About

Historical Data

Bilateral Trade by Products

Exports from Libya () to Latvia () (2023)

Exports from Latvia () to Libya () (2023)

Latest Data

Trade between Libya () and Latvia ()

Latvia Exports

Market Competitiveness

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

Comparative Advantage Libya - Latvia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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