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2022
Flag → Flag
Exports $972MRnk 8 / 194
2022
Flag → Flag
Top Product $125MFuel Wood
2022
Flag → Flag
Exports $502MRnk 35 / 218
2022
Flag → Flag
Top Product $47.1MPackaged Medicaments
2022
Flag
Economic Complexity (ECI) ECI 1.01Rnk 27 / 133
2022
Flag  
GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
Flag
 GDP$395BCURRENT US$
Rnk 39 / 186
2012-2022
Flag
GDP GROWTH20.9%CURRENT US$
Rnk 120 / 186
2022
Flag
GDP PC $21,851CURRENT US$
Rnk 47 / 186
2012-2022
Flag
GDP PC GROWTH57.8%CURRENT US$
Rnk 30 / 186
2022
Flag
GDP PC$66,983CURRENT US$
Rnk 10 / 186
2012-2022
Flag
GDP PC GROWTH14.5%CURRENT US$
Rnk 99 / 186

About

Latvia-Denmark Trade: In 2022, Latvia exported $972M to Denmark. The main products that Latvia exported to Denmark were Fuel Wood ($125M), Rapeseed Oil ($59.7M), and Other Furniture ($57M). Over the past 5 years the exports of Latvia to Denmark have increased at an annualized rate of 10.9%, from $579M in 2017 to $972M in 2022.

In 2020, Latvia exported services to Denmark worth $129M, with Transportation ($54.8M), Other business services ($42.3M), and Computer and information services ($20.6M) being the largest in terms of value.

Denmark-Latvia Trade: In 2022, Denmark exported $502M to Latvia. The main products that Denmark exported to Latvia were Packaged Medicaments ($47.1M), Hot-Rolled Iron ($27.4M), and Excavation Machinery ($23.4M). Over the past 5 years the exports of Denmark to Latvia have increased at an annualized rate of 5.58%,  from $363M in 2017 to $502M in 2022.

In 2020, Denmark exported services to Latvia worth $156M, with Transportation ($93.7M), Travel ($27.8M), and Other business services ($13.1M) 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, Denmark ranked 27 in the Economic Complexity Index (ECI 1.01), and 37 in total exports ($122B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Latvia exported $972M to Denmark. The main products exported from Latvia to Denmark were Fuel Wood ($125M), Rapeseed Oil ($59.7M), and Other Furniture ($57M). During the last 5 years the exports of Latvia to Denmark have increased at an annualized rate of 10.9%, from $579M in 2017 to $972M in 2022.

In 2017, Denmark exported $502M to Latvia. The main products exported from Denmark to Latvia were Packaged Medicaments ($47.1M), Hot-Rolled Iron ($27.4M), and Excavation Machinery ($23.4M). During the last 5 years the exports of Denmark to Latvia have increased at an annualized rate of 5.58%, from $363M in 2022 to $502M in 2017.

Exports from Latvia (Flag) to Denmark (Flag) (2022)

Exports from Denmark (Flag) to Latvia (Flag) (2022)

Latest Data

Trade between Latvia (Flag) and Denmark (Flag)

Latvia Exports

Denmark Exports

Market Competitiveness

Color
Latvia
Top DestinationLithuania$4.09B
Denmark
Top DestinationGermany$18.9B

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

In 2022, countries that imported more from Latvia than Denmark included Lithuania ($4.09B), Estonia ($2.26B), and Russia ($1.26B).

In 2022, countries that imported more from Denmark than Latvia included Germany ($18.9B), United States ($13.1B), and Sweden ($11.6B).

Difference in imports from Denmark (Flag) and Latvia (Flag) (2022)

Comparative Advantage Latvia - Denmark

Flow
Scale

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

During 2022, Latvia had a large net trade with Denmark in the exports of Wood Products ($219M), Machines ($148M), and Metals ($140M).

During 2017, Denmark had a large net trade with Latvia in the exports of Machines ($122M), Metals ($103M), and Chemical Products ($76.1M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Latvia Denmark+$4.43MPackaged Medicaments
Top Product Potential Denmark Latvia+$12.4MPackaged Medicaments

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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Bilateral Service Trade

In 2020, Latvia exported services to Denmark worth $129M, with Transportation ($54.8M), Other business services ($42.3M), and Computer and information services ($20.6M) being the largest in terms of value.

In 2020, Denmark exported services to Latvia worth $156M, with Transportation ($93.7M), Travel ($27.8M), and Other business services ($13.1M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Latvia (Flag) to Denmark (Flag) (2020)

Services Exports from Denmark (Flag) to Latvia (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Latvia and Denmark. This means that a dot/product with the flag of Latvia indicates it has a comparative advantage over Denmark. Similarly, a dot/product with the flag of Denmark indicates it has a comparative advantage over Latvia.

Product Space of Latvia (Flag) and Denmark (Flag) (2022)

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