Latvia / Belgium

Latvia-Belgium Trade: In 2022, Latvia exported $301M to Belgium. The main products that Latvia exported to Belgium were Sawn Wood ($37M), Motor vehicles; parts and accessories (8701 to 8705) ($36.7M), and Industrial Fatty Acids, Oils and Alcohols ($31.4M). Over the past 5 years the exports of Latvia to Belgium have increased at an annualized rate of 9.39%, from $192M in 2017 to $301M in 2022.

In 2020, Latvia exported services to Belgium worth $76.5M, with Transportation ($53.7M), Other business services ($16M), and Communications services ($3.43M) being the largest in terms of value.

Belgium-Latvia Trade: In 2022, Belgium exported $475M to Latvia. The main products that Belgium exported to Latvia were Vaccines, blood, antisera, toxins and cultures ($48.4M), Nitrogenous Fertilizers ($25.8M), and Iron Ingots ($21.9M). Over the past 5 years the exports of Belgium to Latvia have increased at an annualized rate of 9.16%,  from $306M in 2017 to $475M in 2022.

In 2020, Belgium exported services to Latvia worth $37.7M, with Other business services ($13.7M), Transportation ($12.6M), and Travel ($5.71M) being the largest in terms of value.

Comparison In 2022,  Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index. That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).