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2022
Flag → Flag
Exports $46.2MRnk 48 / 194
2022
Flag → Flag
Top Product $6.23MWheat
2022
Flag → Flag
Exports $68.9MRnk 66 / 208
2022
Flag → Flag
Top Product $18.8MCars
2022
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
Flag  
GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
Flag
 GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
Flag
GDP GROWTH16.5%CURRENT US$
Rnk 132 / 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$24,275CURRENT US$
Rnk 46 / 186
2012-2022
Flag
GDP PC GROWTH18%CURRENT US$
Rnk 94 / 186

About

Latvia-Portugal Trade: In 2022, Latvia exported $46.2M to Portugal. The main products that Latvia exported to Portugal were Wheat ($6.23M), Corn ($5.74M), and Starch Residue ($4.67M). Over the past 5 years the exports of Latvia to Portugal have increased at an annualized rate of 12.5%, from $25.7M in 2017 to $46.2M in 2022.

In 2020, Latvia exported services to Portugal worth $2.28M, with Travel ($1.14M) and Computer and information services ($1.14M) being the largest in terms of value.

Portugal-Latvia Trade: In 2022, Portugal exported $68.9M to Latvia. The main products that Portugal exported to Latvia were Cars ($18.8M), Uncoated Paper ($7.35M), and Wine ($6.24M). Over the past 5 years the exports of Portugal to Latvia have increased at an annualized rate of 15.8%,  from $33.1M in 2017 to $68.9M in 2022.

In 2020, Portugal exported services to Latvia worth $3.43M, with Travel ($3.43M) being the largest in terms of value.

Comparison In 2022,  Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index. That same year, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Latvia exported $46.2M to Portugal. The main products exported from Latvia to Portugal were Wheat ($6.23M), Corn ($5.74M), and Starch Residue ($4.67M). During the last 5 years the exports of Latvia to Portugal have increased at an annualized rate of 12.5%, from $25.7M in 2017 to $46.2M in 2022.

In 2017, Portugal exported $68.9M to Latvia. The main products exported from Portugal to Latvia were Cars ($18.8M), Uncoated Paper ($7.35M), and Wine ($6.24M). During the last 5 years the exports of Portugal to Latvia have increased at an annualized rate of 15.8%, from $33.1M in 2022 to $68.9M in 2017.

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

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

Latest Data

Trade between Latvia (Flag) and Portugal (Flag)

Latvia Exports

Portugal Exports

Market Competitiveness

Color
Latvia
Top DestinationLithuania$4.09B
Portugal
Top DestinationSpain$20.5B

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

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

In 2022, countries that imported more from Portugal than Latvia included Spain ($20.5B), France ($9.49B), and Germany ($8.76B).

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

Comparative Advantage Latvia - Portugal

Flow
Scale

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

During 2022, Latvia had a large net trade with Portugal in the exports of Vegetable Products ($12.2M), Foodstuffs ($6.34M), and Machines ($5.29M).

During 2017, Portugal had a large net trade with Latvia in the exports of Transportation ($19.7M), Machines ($10.1M), and Foodstuffs ($8.84M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Latvia Portugal+$3.15MWheat
Top Product Potential Portugal Latvia+$3.77MCars

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

In 2020, Latvia exported services to Portugal worth $2.28M, with Travel ($1.14M) and Computer and information services ($1.14M) being the largest in terms of value.

In 2020, Portugal exported services to Latvia worth $3.43M, with Travel ($3.43M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Latvia (Flag) to Portugal (Flag) (2020)

Services Exports from Portugal (Flag) to Latvia (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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