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2022
Flag → Flag
Exports $192kRnk 152 / 194
2022
Flag → Flag
Top Product $114kPeat
2022
Flag → Flag
Exports $279kRnk 93 / 127
2022
Flag → Flag
Top Product $219kGrapes
2022
Flag
Economic Complexity (ECI) ECI 0.072Rnk 60 / 133
2022
Flag  
GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
Flag
 GDP$389BCURRENT US$
Rnk 40 / 186
2012-2022
Flag
GDP GROWTH-39.7%CURRENT US$
Rnk 183 / 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$4,388CURRENT US$
Rnk 116 / 186
2012-2022
Flag
GDP PC GROWTH-47.3%CURRENT US$
Rnk 183 / 186

About

Latvia-Iran Trade: In 2022, Latvia exported $192k to Iran. The main products that Latvia exported to Iran were Peat ($114k), Tractors ($41.6k), and Baked Goods ($36.6k). Over the past 5 years the exports of Latvia to Iran have decreased at an annualized rate of 44.7%, from $3.73M in 2017 to $192k in 2022.

In 2003, Latvia exported services to Iran worth $0, with Other business services ($1.97M) and Construction services (-$1.97M) being the largest in terms of value.

Iran-Latvia Trade: In 2022, Iran exported $279k to Latvia. The main products that Iran exported to Latvia were Grapes ($219k), Tropical Fruits ($24.7k), and Other Fruits ($18.5k). Over the past 5 years the exports of Iran to Latvia have decreased at an annualized rate of 4.14%,  from $483k in 2017 to $279k in 2022.

In 2022, Iran 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, Iran ranked 60 in the Economic Complexity Index (ECI 0.072), and 86 in total exports ($15.9B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Latvia exported $192k to Iran. The main products exported from Latvia to Iran were Peat ($114k), Tractors ($41.6k), and Baked Goods ($36.6k). During the last 5 years the exports of Latvia to Iran have decreased at an annualized rate of 44.7%, from $3.73M in 2017 to $192k in 2022.

In 2017, Iran exported $279k to Latvia. The main products exported from Iran to Latvia were Grapes ($219k), Tropical Fruits ($24.7k), and Other Fruits ($18.5k). During the last 5 years the exports of Iran to Latvia have decreased at an annualized rate of 4.14%, from $483k in 2022 to $279k in 2017.

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

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

Latest Data

Trade between Latvia (Flag) and Iran (Flag)

Latvia Exports

Market Competitiveness

Color
Latvia
Top DestinationLithuania$4.09B
Iran
Top DestinationChina$5.72B

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

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

In 2022, countries that imported more from Iran than Latvia included China ($5.72B), Turkey ($3.17B), and Kuwait ($960M).

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

Comparative Advantage Latvia - Iran

Flow
Scale

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

During 2022, Latvia had a large net trade with Iran in the exports of Mineral Products ($114k), Transportation ($41.6k), and Foodstuffs ($36.6k).

During 2017, Iran had a large net trade with Latvia in the exports of Vegetable Products ($279k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Latvia Iran+$101kTractors
Top Product Potential Iran Latvia+$129kGrapes

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 Iran. This means that a dot/product with the flag of Latvia indicates it has a comparative advantage over Iran. Similarly, a dot/product with the flag of Iran indicates it has a comparative advantage over Latvia.

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

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