Latvia (LVA) and Lithuania (LTU) Trade | The Observatory of Economic Complexity

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Latvia-Lithuania Trade: In 2023, Latvia exported $3.77B to Lithuania. The main products that Latvia exported to Lithuania were Electricity ($366M), Cars ($242M), and Broadcasting Equipment ($227M). Over the past 5 years the exports of Latvia to Lithuania have increased at an annualized rate of 8.73%, from $2.48B in 2018 to $3.77B in 2023.

In 2020, Latvia exported services to Lithuania worth $404M, with Transportation ($111M), Other business services ($109M), and Travel ($92.5M) being the largest in terms of value.

Lithuania-Latvia Trade: In 2023, Lithuania exported $4.44B to Latvia. The main products that Lithuania exported to Latvia were Refined Petroleum ($789M), Petroleum Gas ($260M), and Packaged Medicaments ($210M). Over the past 5 years the exports of Lithuania to Latvia have increased at an annualized rate of 7.58%, from $3.08B in 2018 to $4.44B in 2023.

In 2020, Lithuania exported services to Latvia worth $469M, with Transportation ($212M), Other business services ($98.8M), and Travel ($60.5M) 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, Lithuania ranked 32 in the Economic Complexity Index (ECI 0.85), and 63 in total exports ($41B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Latvia exported $3.77B to Lithuania. The main products exported from Latvia to Lithuania were Electricity ($366M), Cars ($242M), and Broadcasting Equipment ($227M). During the last 5 years the exports of Latvia to Lithuania have increased at an annualized rate of 8.73%, from $2.48B in 2018 to $3.77B in 2023.

In 2018, Lithuania exported $4.44B to Latvia. The main products exported from Lithuania to Latvia were Refined Petroleum ($789M), Petroleum Gas ($260M), and Packaged Medicaments ($210M). During the last 5 years the exports of Lithuania to Latvia have increased at an annualized rate of 7.58%, from $3.08B in 2023 to $4.44B in 2018.

Exports from Latvia () to Lithuania () (2023)

Exports from Lithuania () to Latvia () (2023)

Latest Data

Trade between Latvia () and Lithuania ()

Latvia Exports

Date

Lithuania Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Latvia
Top DestinationLithuania$3.77B

Lithuania
Top DestinationLatvia$4.44B

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

In 2023, countries that imported more from Latvia than Lithuania included Nigeria ($717M), China ($230M), and Tanzania ($42.9M).

In 2023, countries that imported more from Lithuania than Latvia included Poland ($3.37B), Germany ($2.83B), and Belarus ($1.84B).

Difference in imports from Lithuania () and Latvia () (2023)

Comparative Advantage Latvia - Lithuania

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Latvia had a large net trade with Lithuania in the exports of Machines ($845M), Mineral Products ($649M), and Transportation ($357M).

During 2018, Lithuania had a large net trade with Latvia in the exports of Mineral Products ($1.24B), Machines ($619M), and Chemical Products ($553M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Latvia Lithuania+$2.92MRefined Petroleum

Top Product Potential Lithuania Latvia+$6.13MCars

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

Ltu Year

Lva Year

In 2020, Latvia exported services to Lithuania worth $404M, with Transportation ($111M), Other business services ($109M), and Travel ($92.5M) being the largest in terms of value.

In 2020, Lithuania exported services to Latvia worth $469M, with Transportation ($212M), Other business services ($98.8M), and Travel ($60.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Latvia () to Lithuania () (2020)

Services Exports from Lithuania () to Latvia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Latvia () to Lithuania () (2023)

Exports from Lithuania () to Latvia () (2023)

Latest Data

Trade between Latvia () and Lithuania ()

Latvia Exports

Lithuania Exports

Market Competitiveness

Difference in imports from Lithuania () and Latvia () (2023)

Comparative Advantage Latvia - Lithuania

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Latvia () to Lithuania () (2020)

Services Exports from Lithuania () to Latvia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Latvia () and Lithuania () (2023)

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