Latvia (LVA) and Australia (AUS) Trade | The Observatory of Economic Complexity

About

Latvia-Australia In 2022, Latvia exported $54.7M to Australia. The main products that Latvia exported to Australia are Sawn Wood ($12.6M), Broadcasting Equipment ($3.9M), and Peat ($3.85M). During the last 27 years the exports of Latvia to Australia have increased at an annualized rate of 16.7%, from $848k in 1995 to $54.7M in 2022.

In 2020, Latvia exported services to Australia worth $2.28M, with Computer and information services ($2.28M) being the largest in terms of value.

Australia-Latvia In 2022, Australia exported $46.4M to Latvia. The main products that Australia exported to Latvia were Zinc Ore ($19.4M), Office Machine Parts ($7.31M), and Blank Audio Media ($7.26M). During the last 27 years the exports of Australia to Latvia have increased at an annualized rate of 4.54%, from $14M in 1995 to $46.4M in 2022.

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

Comparison In 2022, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index. That same year, Australia ranked 77 in the Economic Complexity Index (ECI -0.35), and 16 in total exports ($424B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Latvia exported $54.7M to Australia. The main products exported from Latvia to Australia were Sawn Wood ($12.6M), Broadcasting Equipment ($3.9M), and Peat ($3.85M). During the last 27 years the exports of Latvia to Australia have increased at an annualized rate of 16.7%, from $848k in 1995 to $54.7M in 2022.

In 2022, Australia exported $46.4M to Latvia. The main products exported from Australia to Latvia were Zinc Ore ($19.4M), Office Machine Parts ($7.31M), and Blank Audio Media ($7.26M). During the last 27 years the exports of Australia to Latvia have increased at an annualized rate of 4.54%, from $14M in 1995 to $46.4M in 2022.

Exports from Latvia () to Australia () (2022)

Exports from Australia () to Latvia () (2022)

Latest Data

Trade between Latvia () and Australia ()

Latvia Exports

Date

Australia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Latvia
Top DestinationLithuania$4.09B

Australia
Top DestinationChina$123B

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

In 2021, countries that imported more from Latvia than Australia were Lithuania ($4.09B), Estonia ($2.26B), and Russia ($1.26B).

In 2021, countries that imported more from Australia than Latvia were China ($123B), Japan ($80.1B), and South Korea ($41B).

Difference in imports from Australia () and Latvia () (2022)

Comparative Advantage Latvia - Australia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Latvia had a large net trade with Australia in the exports of Wood Products ($13.9M), Machines ($11.8M), and Chemical Products ($4.09M).

During 2022, Australia had a large net trade with Latvia in the exports of Machines ($20.6M), Mineral Products ($19.4M), and Foodstuffs ($1.83M).

Service Trade

Bilateral Service Trade

Lva Year

In 2020, Latvia exported services to Australia worth $2.28M, with Computer and information services ($2.28M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Latvia has comparative advantage over Australia. Similarly, the more yellow a dot/product is, the more Australia has comparative advantage over Latvia.

About

Historical Data

Bilateral Trade by Products

Exports from Latvia () to Australia () (2022)

Exports from Australia () to Latvia () (2022)

Latest Data

Trade between Latvia () and Australia ()

Latvia Exports

Australia Exports

Market Competitiveness

Difference in imports from Australia () and Latvia () (2022)

Comparative Advantage Latvia - Australia

Service Trade

Bilateral Service Trade

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

Economic Complexity

Competitive Landscape

Product Space of Latvia () and Australia () (2022)

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