North Macedonia (MKD) and Latvia (LVA) Trade | The Observatory of Economic Complexity

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North Macedonia-Latvia Trade: In 2023, North Macedonia exported $6.55M to Latvia. The main products that North Macedonia exported to Latvia were Packaged Medicaments ($1.82M), Cabbages ($1.16M), and Pitted Fruits ($681k). Over the past 5 years the exports of North Macedonia to Latvia have increased at an annualized rate of 5.86%, from $4.93M in 2018 to $6.55M in 2023.

In 2023, North Macedonia did not export any services to Latvia.

Latvia-North Macedonia Trade: In 2023, Latvia exported $3.18M to North Macedonia. The main products that Latvia exported to North Macedonia were Glass Fibers ($524k), Packaged Medicaments ($317k), and Integrated Circuits ($316k). Over the past 5 years the exports of Latvia to North Macedonia have increased at an annualized rate of 6.63%, from $2.31M in 2018 to $3.18M in 2023.

In 2023, Latvia did not export any services to North Macedonia.

Comparison In 2023, North Macedonia ranked 104 in total exports ($10.1B). That same year, Latvia ranked 80 in total exports ($19.9B). 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, North Macedonia exported $6.55M to Latvia. The main products exported from North Macedonia to Latvia were Packaged Medicaments ($1.82M), Cabbages ($1.16M), and Pitted Fruits ($681k). During the last 5 years the exports of North Macedonia to Latvia have increased at an annualized rate of 5.86%, from $4.93M in 2018 to $6.55M in 2023.

In 2018, Latvia exported $3.18M to North Macedonia. The main products exported from Latvia to North Macedonia were Glass Fibers ($524k), Packaged Medicaments ($317k), and Integrated Circuits ($316k). During the last 5 years the exports of Latvia to North Macedonia have increased at an annualized rate of 6.63%, from $2.31M in 2023 to $3.18M in 2018.

Exports from North Macedonia () to Latvia () (2023)

Exports from Latvia () to North Macedonia () (2023)

Latest Data

Trade between North Macedonia () and Latvia ()

North Macedonia Exports

Date

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

North Macedonia
Top DestinationGermany$4B

Latvia
Top DestinationLithuania$3.77B

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

In 2023, countries that imported more from North Macedonia than Latvia included Germany ($4B), Serbia ($827M), and Bulgaria ($566M).

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

Difference in imports from Latvia () and North Macedonia () (2023)

Comparative Advantage North Macedonia - Latvia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, North Macedonia had a large net trade with Latvia in the exports of Vegetable Products ($3.26M), Chemical Products ($1.82M), and Foodstuffs ($720k).

During 2018, Latvia had a large net trade with North Macedonia in the exports of Machines ($643k), Foodstuffs ($602k), and Stone And Glass ($525k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential North Macedonia Latvia+$730kPackaged Medicaments

Top Product Potential Latvia North Macedonia+$321kPackaged Medicaments

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from North Macedonia () to Latvia () (2023)

Exports from Latvia () to North Macedonia () (2023)

Latest Data

Trade between North Macedonia () and Latvia ()

North Macedonia Exports

Latvia Exports

Market Competitiveness

Difference in imports from Latvia () and North Macedonia () (2023)

Comparative Advantage North Macedonia - Latvia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of North Macedonia () and Latvia () (2023)

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