Latvia (LVA) and Luxembourg (LUX) Trade | The Observatory of Economic Complexity

About

Latvia-Luxembourg Trade: In 2023, Latvia exported $23.6M to Luxembourg. The main products that Latvia exported to Luxembourg were Polyacetals ($12.9M), Office Machine Parts ($2.4M), and Interchangeable Tool Parts ($1.44M). Over the past 5 years the exports of Latvia to Luxembourg have increased at an annualized rate of 22%, from $8.73M in 2018 to $23.6M in 2023.

In 2020, Latvia exported services to Luxembourg worth $57.1M, with Transportation ($20.6M), Other business services ($17.1M), and Construction services ($16M) being the largest in terms of value.

Luxembourg-Latvia Trade: In 2023, Luxembourg exported $13.1M to Latvia. The main products that Luxembourg exported to Latvia were Other Headwear ($1.4M), Iron Railway Products ($1.29M), and Other Vegetable Products ($1.23M). Over the past 5 years the exports of Luxembourg to Latvia have decreased at an annualized rate of 9.52%, from $21.6M in 2018 to $13.1M in 2023.

In 2020, Luxembourg exported services to Latvia worth $10.3M, with Other business services ($8M), Transportation ($1.14M), and Travel ($1.14M) being the largest in terms of value.

Comparison In 2023, Latvia ranked 80 in total exports ($19.9B). That same year, Luxembourg ranked 82 in total exports ($18.9B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Latvia exported $23.6M to Luxembourg. The main products exported from Latvia to Luxembourg were Polyacetals ($12.9M), Office Machine Parts ($2.4M), and Interchangeable Tool Parts ($1.44M). During the last 5 years the exports of Latvia to Luxembourg have increased at an annualized rate of 22%, from $8.73M in 2018 to $23.6M in 2023.

In 2018, Luxembourg exported $13.1M to Latvia. The main products exported from Luxembourg to Latvia were Other Headwear ($1.4M), Iron Railway Products ($1.29M), and Other Vegetable Products ($1.23M). During the last 5 years the exports of Luxembourg to Latvia have decreased at an annualized rate of 9.52%, from $21.6M in 2023 to $13.1M in 2018.

Exports from Latvia () to Luxembourg () (2023)

Exports from Luxembourg () to Latvia () (2023)

Latest Data

Trade between Latvia () and Luxembourg ()

Latvia Exports

Date

Luxembourg Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Latvia
Top DestinationLithuania$3.77B

Luxembourg
Top DestinationGermany$3.42B

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

In 2023, countries that imported more from Latvia than Luxembourg included Lithuania ($3.77B), Estonia ($1.26B), and Russia ($1.22B).

In 2023, countries that imported more from Luxembourg than Latvia included Germany ($3.42B), France ($2.8B), and Belgium ($1.59B).

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

Comparative Advantage Latvia - Luxembourg

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Latvia had a large net trade with Luxembourg in the exports of Plastics and Rubbers ($13.3M), Machines ($3.35M), and Paper Goods ($2.76M).

During 2018, Luxembourg had a large net trade with Latvia in the exports of Metals ($4.6M), Footwear and Headwear ($1.41M), and Transportation ($1.37M).

Bilateral Service Trade

Lux Year

Lva Year

In 2020, Latvia exported services to Luxembourg worth $57.1M, with Transportation ($20.6M), Other business services ($17.1M), and Construction services ($16M) being the largest in terms of value.

In 2020, Luxembourg exported services to Latvia worth $10.3M, with Other business services ($8M), Transportation ($1.14M), and Travel ($1.14M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Luxembourg () 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 Luxembourg. This means that a dot/product with the flag of Latvia indicates it has a comparative advantage over Luxembourg. Similarly, a dot/product with the flag of Luxembourg indicates it has a comparative advantage over Latvia.

About

Historical Data

Bilateral Trade by Products

Exports from Latvia () to Luxembourg () (2023)

Exports from Luxembourg () to Latvia () (2023)

Latest Data

Trade between Latvia () and Luxembourg ()

Latvia Exports

Luxembourg Exports

Market Competitiveness

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

Comparative Advantage Latvia - Luxembourg

Bilateral Service Trade

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

Keep Exploring