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2022
Flag → Flag
Exports $19.7MRnk 68 / 194
2022
Flag → Flag
Top Product $12.6MBroadcasting Equipment
2022
Flag → Flag
Exports $54.7MRnk 116 / 216
2022
Flag → Flag
Top Product $18MRubber
2022
Flag
Economic Complexity (ECI) ECI -0.012Rnk 67 / 133
2022
Flag  
GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
Flag
 GDP$1.32TCURRENT US$
Rnk 16 / 186
2012-2022
Flag
GDP GROWTH43.7%CURRENT US$
Rnk 79 / 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$4,788CURRENT US$
Rnk 114 / 186
2012-2022
Flag
GDP PC GROWTH30.5%CURRENT US$
Rnk 62 / 186

About

Latvia-Indonesia Trade: In 2022, Latvia exported $19.7M to Indonesia. The main products that Latvia exported to Indonesia were Broadcasting Equipment ($12.6M), Animal Meal and Pellets ($1.16M), and Medical Instruments ($973k). Over the past 5 years the exports of Latvia to Indonesia have increased at an annualized rate of 15.3%, from $9.69M in 2017 to $19.7M in 2022.

In 2010, Latvia exported services to Indonesia worth $1.33M, with Travel ($1.33M) being the largest in terms of value.

Indonesia-Latvia Trade: In 2022, Indonesia exported $54.7M to Latvia. The main products that Indonesia exported to Latvia were Rubber ($18M), Coal Briquettes ($10.2M), and Palm Oil ($6.08M). Over the past 5 years the exports of Indonesia to Latvia have decreased at an annualized rate of 12.4%,  from $106M in 2017 to $54.7M in 2022.

In 2022, Indonesia 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, Indonesia ranked 67 in the Economic Complexity Index (ECI -0.012), and 26 in total exports ($320B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Latvia exported $19.7M to Indonesia. The main products exported from Latvia to Indonesia were Broadcasting Equipment ($12.6M), Animal Meal and Pellets ($1.16M), and Medical Instruments ($973k). During the last 5 years the exports of Latvia to Indonesia have increased at an annualized rate of 15.3%, from $9.69M in 2017 to $19.7M in 2022.

In 2017, Indonesia exported $54.7M to Latvia. The main products exported from Indonesia to Latvia were Rubber ($18M), Coal Briquettes ($10.2M), and Palm Oil ($6.08M). During the last 5 years the exports of Indonesia to Latvia have decreased at an annualized rate of 12.4%, from $106M in 2022 to $54.7M in 2017.

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

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

Latest Data

Trade between Latvia (Flag) and Indonesia (Flag)

Latvia Exports

Indonesia Exports

Market Competitiveness

Color
Latvia
Top DestinationLithuania$4.09B
Indonesia
Top DestinationChina$67.7B

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

In 2022, countries that imported more from Latvia than Indonesia included Lithuania ($4.09B), Estonia ($2.26B), and Sweden ($1.19B).

In 2022, countries that imported more from Indonesia than Latvia included China ($67.7B), United States ($31.6B), and Japan ($26.6B).

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

Comparative Advantage Latvia - Indonesia

Flow
Scale

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

During 2022, Latvia had a large net trade with Indonesia in the exports of Machines ($14.1M), Instruments ($1.35M), and Foodstuffs ($1.24M).

During 2017, Indonesia had a large net trade with Latvia in the exports of Plastics and Rubbers ($22.6M), Mineral Products ($10.3M), and Animal and Vegetable Bi-Products ($9.55M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Latvia Indonesia+$9.36MTelephones
Top Product Potential Indonesia Latvia+$6.59MCoal Briquettes

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

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

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

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