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2022
Flag → Flag
Exports $1.43MRnk 120 / 194
2022
Flag → Flag
Top Product $269kAnimal Food
2022
Flag → Flag
Exports $79.8kRnk 69 / 123
2022
Flag → Flag
Top Product $65.8kRefrigerators
2022
Flag  
GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
Flag
 GDP$6.1BCURRENT US$
Rnk 151 / 186
2012-2022
Flag
GDP GROWTH49.1%CURRENT US$
Rnk 65 / 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$9,894CURRENT US$
Rnk 79 / 186
2012-2022
Flag
GDP PC GROWTH50.2%CURRENT US$
Rnk 35 / 186

About

Latvia-Montenegro Trade: In 2022, Latvia exported $1.43M to Montenegro. The main products that Latvia exported to Montenegro were Animal Food ($269k), Dried/Salted/Smoked/Brined Fish ($139k), and Integrated Circuits ($95.2k). Over the past 5 years the exports of Latvia to Montenegro have decreased at an annualized rate of 1.87%, from $1.57M in 2017 to $1.43M in 2022.

In 2022, Latvia did not export any services to Montenegro.

Montenegro-Latvia Trade: In 2022, Montenegro exported $79.8k to Latvia. The main products that Montenegro exported to Latvia were Refrigerators ($65.8k), Documents of title (bonds etc) and unused stamps ($3.58k), and Other Heating Machinery ($3.45k). Over the past 5 years the exports of Montenegro to Latvia have decreased at an annualized rate of 63.8%,  from $12.8M in 2017 to $79.8k in 2022.

In 2022, Montenegro did not export any services to Latvia.

Comparison In 2022,  Latvia ranked 75 in total exports ($22.9B). That same year, Montenegro ranked 154 in total exports ($1.32B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Latvia exported $1.43M to Montenegro. The main products exported from Latvia to Montenegro were Animal Food ($269k), Dried/Salted/Smoked/Brined Fish ($139k), and Integrated Circuits ($95.2k). During the last 5 years the exports of Latvia to Montenegro have decreased at an annualized rate of 1.87%, from $1.57M in 2017 to $1.43M in 2022.

In 2017, Montenegro exported $79.8k to Latvia. The main products exported from Montenegro to Latvia were Refrigerators ($65.8k), Documents of title (bonds etc) and unused stamps ($3.58k), and Other Heating Machinery ($3.45k). During the last 5 years the exports of Montenegro to Latvia have decreased at an annualized rate of 63.8%, from $12.8M in 2022 to $79.8k in 2017.

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

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

Latest Data

Trade between Latvia (Flag) and Montenegro (Flag)

Latvia Exports

Montenegro Exports

Market Competitiveness

Color
Latvia
Top DestinationLithuania$4.09B
Montenegro
Top DestinationSouth Korea$321M

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

In 2022, countries that imported more from Latvia than Montenegro included Lithuania ($4.09B), Estonia ($2.26B), and Germany ($1.44B).

In 2022, countries that imported more from Montenegro than Latvia included South Korea ($321M), Serbia ($159M), and Bosnia and Herzegovina ($95.5M).

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

Comparative Advantage Latvia - Montenegro

Flow
Scale

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

During 2022, Latvia had a large net trade with Montenegro in the exports of Machines ($596k), Foodstuffs ($304k), and Animal Products ($146k).

During 2017, Montenegro had a large net trade with Latvia in the exports of Machines ($70.8k), Paper Goods ($3.58k), and Weapons ($3.05k).

Economic Complexity

Competitive Landscape

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

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

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