Montenegro (MNE) and Latvia (LVA) Trade | The Observatory of Economic Complexity

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Montenegro-Latvia Trade: In 2022, Montenegro exported $79.8k to Latvia. The main products that Montenegro exported to Latvia were Refrigerators ($65.8k), Documents of title (bonds etc) and unused stamps ($3.58k), and Other Heating Machinery ($3.45k). Over the past 5 years the exports of Montenegro to Latvia have decreased at an annualized rate of 63.8%, from $12.8M in 2017 to $79.8k in 2022.

In 2022, Montenegro did not export any services to Latvia.

Latvia-Montenegro Trade: In 2022, Latvia exported $1.43M to Montenegro. The main products that Latvia exported to Montenegro were Animal Food ($269k), Fish: dried, salted, smoked or in brine ($139k), and Integrated Circuits ($95.2k). Over the past 5 years the exports of Latvia to Montenegro have decreased at an annualized rate of 1.87%, from $1.57M in 2017 to $1.43M in 2022.

In 2022, Latvia did not export any services to Montenegro.

Comparison In 2022, Montenegro ranked 154 in total exports ($1.32B). That same year, Latvia ranked 75 in total exports ($22.9B). 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 2022, Montenegro exported $79.8k to Latvia. The main products exported from Montenegro to Latvia were Refrigerators ($65.8k), Documents of title (bonds etc) and unused stamps ($3.58k), and Other Heating Machinery ($3.45k). During the last 5 years the exports of Montenegro to Latvia have decreased at an annualized rate of 63.8%, from $12.8M in 2017 to $79.8k in 2022.

In 2017, Latvia exported $1.43M to Montenegro. The main products exported from Latvia to Montenegro were Animal Food ($269k), Fish: dried, salted, smoked or in brine ($139k), and Integrated Circuits ($95.2k). During the last 5 years the exports of Latvia to Montenegro have decreased at an annualized rate of 1.87%, from $1.57M in 2022 to $1.43M in 2017.

Exports from Montenegro () to Latvia () (2022)

Exports from Latvia () to Montenegro () (2022)

Latest Data

Trade between Montenegro () and Latvia ()

Montenegro Exports

Date

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Montenegro
Top DestinationSouth Korea$321M

Latvia
Top DestinationLithuania$4.09B

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 2022, countries that imported more from Montenegro than Latvia included South Korea ($321M), Serbia ($159M), and Bosnia and Herzegovina ($95.5M).

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

Difference in imports from Latvia () and Montenegro () (2022)

Comparative Advantage Montenegro - Latvia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Montenegro had a large net trade with Latvia in the exports of Machines ($70.8k), Paper Goods ($3.58k), and Weapons ($3.05k).

During 2017, Latvia had a large net trade with Montenegro in the exports of Machines ($596k), Foodstuffs ($304k), and Animal Products ($146k).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

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.

About

Historical Data

Bilateral Trade by Products

Exports from Montenegro () to Latvia () (2022)

Exports from Latvia () to Montenegro () (2022)

Latest Data

Trade between Montenegro () and Latvia ()

Montenegro Exports

Latvia Exports

Market Competitiveness

Difference in imports from Latvia () and Montenegro () (2022)

Comparative Advantage Montenegro - Latvia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Montenegro () and Latvia () (2022)

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