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2022
Flag → Flag
Exports $342MRnk 16 / 194
2022
Flag → Flag
Top Product $106MRefined Petroleum
2022
Flag → Flag
Exports $320MRnk 26 / 191
2022
Flag → Flag
Top Product $60.7MLaboratory Reagents
2022
Flag
Economic Complexity (ECI) ECI 0.5Rnk 44 / 133
2022
Flag  
GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
Flag
 GDP$161BCURRENT US$
Rnk 58 / 186
2012-2022
Flag
GDP GROWTH-12.1%CURRENT US$
Rnk 175 / 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$4,534CURRENT US$
Rnk 115 / 186
2012-2022
Flag
GDP PC GROWTH13.2%CURRENT US$
Rnk 103 / 186

About

Latvia-Ukraine Trade: In 2022, Latvia exported $342M to Ukraine. The main products that Latvia exported to Ukraine were Refined Petroleum ($106M), Processed Fish ($22.8M), and Hard Liquor ($20.2M). Over the past 5 years the exports of Latvia to Ukraine have increased at an annualized rate of 19.5%, from $140M in 2017 to $342M in 2022.

In 2001, Latvia exported services to Ukraine worth $6.29M, with Transportation ($3.15M) and Other business services ($3.15M) being the largest in terms of value.

Ukraine-Latvia Trade: In 2022, Ukraine exported $320M to Latvia. The main products that Ukraine exported to Latvia were Laboratory Reagents ($60.7M), Rapeseed ($17M), and Ferroalloys ($12.8M). Over the past 5 years the exports of Ukraine to Latvia have increased at an annualized rate of 4.67%,  from $255M in 2017 to $320M in 2022.

In 2022, Ukraine 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, Ukraine ranked 44 in the Economic Complexity Index (ECI 0.5), and 61 in total exports ($47.1B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Latvia exported $342M to Ukraine. The main products exported from Latvia to Ukraine were Refined Petroleum ($106M), Processed Fish ($22.8M), and Hard Liquor ($20.2M). During the last 5 years the exports of Latvia to Ukraine have increased at an annualized rate of 19.5%, from $140M in 2017 to $342M in 2022.

In 2017, Ukraine exported $320M to Latvia. The main products exported from Ukraine to Latvia were Laboratory Reagents ($60.7M), Rapeseed ($17M), and Ferroalloys ($12.8M). During the last 5 years the exports of Ukraine to Latvia have increased at an annualized rate of 4.67%, from $255M in 2022 to $320M in 2017.

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

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

Latest Data

Trade between Latvia (Flag) and Ukraine (Flag)

Latvia Exports

Ukraine Exports

Market Competitiveness

Color
Latvia
Top DestinationLithuania$4.09B
Ukraine
Top DestinationPoland$6.7B

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

In 2022, countries that imported more from Latvia than Ukraine included Lithuania ($4.09B), Estonia ($2.26B), and Sweden ($1.19B).

In 2022, countries that imported more from Ukraine than Latvia included Poland ($6.7B), Romania ($3.94B), and Turkey ($3.02B).

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

Comparative Advantage Latvia - Ukraine

Flow
Scale

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

During 2022, Latvia had a large net trade with Ukraine in the exports of Mineral Products ($130M), Foodstuffs ($59.2M), and Chemical Products ($39.8M).

During 2017, Ukraine had a large net trade with Latvia in the exports of Chemical Products ($83.9M), Foodstuffs ($33.3M), and Metals ($31.2M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Latvia Ukraine+$5.57MPackaged Medicaments
Top Product Potential Ukraine Latvia+$2.78MWheat

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

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

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