Latvia / Hungary

Latvia-Hungary Trade: In 2023, Latvia exported $89.9M to Hungary. The main products that Latvia exported to Hungary were Refined Petroleum ($33.3M), Plywood ($5.3M), and Wood Carpentry ($4.64M). Over the past 5 years the exports of Latvia to Hungary have decreased at an annualized rate of 0.39%, from $91.6M in 2018 to $89.9M in 2023.

In 2020, Latvia exported services to Hungary worth $24M, with Computer and information services ($9.14M), Other business services ($6.85M), and Transportation ($5.71M) being the largest in terms of value.

Hungary-Latvia Trade: In 2023, Hungary exported $207M to Latvia. The main products that Hungary exported to Latvia were Video Displays ($48.8M), Low-voltage Protection Equipment ($20.9M), and Packaged Medicaments ($11.4M). Over the past 5 years the exports of Hungary to Latvia have increased at an annualized rate of 1.64%,  from $191M in 2018 to $207M in 2023.

In 2020, Hungary exported services to Latvia worth $35.6M, with Travel ($24M), Transportation ($6.17M), and Communications services ($3.66M) being the largest in terms of value.

Comparison In 2023,  Latvia ranked 80 in total exports ($19.9B), and does not have data regarding Economic Complexity Index. That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B).