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2023
Flag → Flag
Exports $13.5MRnk 20 / 130
2023
Flag → Flag
Top Product $13MHard Liquor
2023
Flag → Flag
Exports $5.41MRnk 98 / 198
2023
Flag → Flag
Top Product $2.87MAlcohol > 80% ABV
2023
Flag  
GDP$7.53BCURRENT US$
Rnk 154 / 195
2013-2023
Flag
GDP GROWTH68.6%CURRENT US$
Rnk 42 / 195
2023
Flag
 GDP$42.2BCURRENT US$
Rnk 100 / 195
2013-2023
Flag
GDP GROWTH44.9%CURRENT US$
Rnk 86 / 195
2023
Flag
GDP PC $12,221CURRENT US$
Rnk 83 / 195
2013-2023
Flag
GDP PC GROWTH70%CURRENT US$
Rnk 26 / 195
2023
Flag
GDP PC$22,503CURRENT US$
Rnk 56 / 196
2013-2023
Flag
GDP PC GROWTH55.4%CURRENT US$
Rnk 37 / 195

About

Montenegro-Latvia Trade: In 2023, Montenegro exported $13.5M to Latvia. The main products that Montenegro exported to Latvia were Hard Liquor ($13M), Cars ($259k), and Delivery Trucks ($124k). Over the past 5 years the exports of Montenegro to Latvia have increased at an annualized rate of 146%, from $150k in 2018 to $13.5M in 2023.

In 2023, Montenegro did not export any services to Latvia.

Latvia-Montenegro Trade: In 2023, Latvia exported $5.41M to Montenegro. The main products that Latvia exported to Montenegro were Alcohol > 80% ABV ($2.87M), Raw Sugar ($358k), and Animal Food ($333k). Over the past 5 years the exports of Latvia to Montenegro have increased at an annualized rate of 36.7%,  from $1.13M in 2018 to $5.41M in 2023.

In 2023, Latvia did not export any services to Montenegro.

Comparison In 2023,  Montenegro ranked 151 in total exports ($1.53B). 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
Value

In 2023, Montenegro exported $13.5M to Latvia. The main products exported from Montenegro to Latvia were Hard Liquor ($13M), Cars ($259k), and Delivery Trucks ($124k). During the last 5 years the exports of Montenegro to Latvia have increased at an annualized rate of 146%, from $150k in 2018 to $13.5M in 2023.

In 2018, Latvia exported $5.41M to Montenegro. The main products exported from Latvia to Montenegro were Alcohol > 80% ABV ($2.87M), Raw Sugar ($358k), and Animal Food ($333k). During the last 5 years the exports of Latvia to Montenegro have increased at an annualized rate of 36.7%, from $1.13M in 2023 to $5.41M in 2018.

Exports from Montenegro (Flag) to Latvia (Flag) (2023)

Exports from Latvia (Flag) to Montenegro (Flag) (2023)

Latest Data

Trade between Montenegro (Flag) and Latvia (Flag)

Montenegro Exports

Latvia Exports

Market Competitiveness

Color
Montenegro
Top DestinationItaly$576M
Latvia
Top DestinationLithuania$3.77B

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

In 2023, countries that imported more from Montenegro than Latvia included Italy ($576M), Serbia ($202M), and Bosnia and Herzegovina ($67.5M).

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

Difference in imports from Latvia (Flag) and Montenegro (Flag) (2023)

Comparative Advantage Montenegro - Latvia

Flow
Scale

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

During 2023, Montenegro had a large net trade with Latvia in the exports of Foodstuffs ($13M), Transportation ($466k), and Metals ($14.9k).

During 2018, Latvia had a large net trade with Montenegro in the exports of Foodstuffs ($3.78M), Machines ($586k), and Animal Products ($233k).

Economic Complexity

Competitive Landscape

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

Product Space of Montenegro (Flag) and Latvia (Flag) (2023)

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