2022
Flag  
GDP
$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH
46.1%CURRENT US$
Rnk 74 / 186
2022
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GDP PC 
$21,851CURRENT US$
Rnk 47 / 186
2012-2022
Flag
GDP PC GROWTH
57.8%CURRENT US$
Rnk 30 / 186

About

Latvia-British Virgin Islands Trade: In 2022, Latvia exported $263k to British Virgin Islands. The main products that Latvia exported to British Virgin Islands were Knit T-shirts ($79.4k), Iron Gas Containers ($77.1k), and Other Heating Machinery ($58k). Over the past 5 years the exports of Latvia to British Virgin Islands have decreased at an annualized rate of 4.95%, from $339k in 2017 to $263k in 2022.

In 2022, Latvia did not export any services to British Virgin Islands.

British Virgin Islands-Latvia Trade: In 2022, British Virgin Islands exported $743 to Latvia. The main products that British Virgin Islands exported to Latvia were Razor Blades ($743). Over the past 5 years the exports of British Virgin Islands to Latvia have decreased at an annualized rate of 58.2%,  from $58.5k in 2017 to $743 in 2022.

In 2022, British Virgin Islands did not export any services to Latvia.

Comparison In 2022,  Latvia ranked 75 in total exports ($22.9B). That same year, British Virgin Islands ranked 185 in total exports ($206M). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Latvia exported $263k to British Virgin Islands. The main products exported from Latvia to British Virgin Islands were Knit T-shirts ($79.4k), Iron Gas Containers ($77.1k), and Other Heating Machinery ($58k). During the last 5 years the exports of Latvia to British Virgin Islands have decreased at an annualized rate of 4.95%, from $339k in 2017 to $263k in 2022.

In 2017, British Virgin Islands exported $743 to Latvia. The main products exported from British Virgin Islands to Latvia were Razor Blades ($743). During the last 5 years the exports of British Virgin Islands to Latvia have decreased at an annualized rate of 58.2%, from $58.5k in 2022 to $743 in 2017.

Exports from Latvia (Flag) to British Virgin Islands (Flag) (2022)

Exports from British Virgin Islands (Flag) to Latvia (Flag) (2022)

Latest Data

Trade between Latvia (Flag) and British Virgin Islands (Flag)

Latvia Exports

Market Competitiveness

Color
Latvia
Top Destination
Lithuania$4.09B
British Virgin Islands
Top Destination
Malta$85.8M

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

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

In 2022, countries that imported more from British Virgin Islands than Latvia included Malta ($85.8M), Bahamas ($824k), and Jamaica ($512k).

Difference in imports from British Virgin Islands (Flag) and Latvia (Flag) (2022)

Comparative Advantage Latvia - British Virgin Islands

Flow
Scale

This chart compares trade between Latvia and British Virgin Islands by product, considering products traded by both, Latvia and British Virgin Islands.

During 2022, Latvia had a large net trade with British Virgin Islands in the exports of Textiles ($102k), Metals ($77.1k), and Machines ($58k).

During 2017, British Virgin Islands had a large net trade with Latvia in the exports of Metals ($743).

Economic Complexity

Competitive Landscape

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

Product Space of Latvia (Flag) and British Virgin Islands (Flag) (2022)

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