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2022
Flag → Flag
Exports $1.05BRnk 54 / 224
2022
Flag → Flag
Top Product $62.8MPackaged Medicaments
2022
Flag → Flag
Exports $960MRnk 9 / 194
2022
Flag → Flag
Top Product $87MIndustrial Fatty Acids, Oils and Alcohols
2022
Flag
Economic Complexity (ECI) ECI 1.11Rnk 23 / 133
2022
Flag  
GDP$991BCURRENT US$
Rnk 18 / 186
2012-2022
Flag
GDP GROWTH18.1%CURRENT US$
Rnk 125 / 186
2022
Flag
 GDP$41.2BCURRENT US$
Rnk 97 / 186
2012-2022
Flag
GDP GROWTH46.1%CURRENT US$
Rnk 74 / 186
2022
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GDP PC $55,985CURRENT US$
Rnk 12 / 186
2012-2022
Flag
GDP PC GROWTH11.8%CURRENT US$
Rnk 110 / 186
2022
Flag
GDP PC$21,851CURRENT US$
Rnk 47 / 186
2012-2022
Flag
GDP PC GROWTH57.8%CURRENT US$
Rnk 30 / 186

About

Netherlands-Latvia Trade: In 2022, Netherlands exported $1.05B to Latvia. The main products that Netherlands exported to Latvia were Packaged Medicaments ($62.8M), Refined Petroleum ($37.4M), and Industrial Fatty Acids, Oils and Alcohols ($36.3M). Over the past 5 years the exports of Netherlands to Latvia have increased at an annualized rate of 10.8%, from $632M in 2017 to $1.05B in 2022.

In 2020, Netherlands exported services to Latvia worth $160M, with Transportation ($65.8M), Travel ($39.5M), and Other business services ($24.2M) being the largest in terms of value.

Latvia-Netherlands Trade: In 2022, Latvia exported $960M to Netherlands. The main products that Latvia exported to Netherlands were Industrial Fatty Acids, Oils and Alcohols ($87M), Sawn Wood ($79M), and Rapeseed ($70.9M). Over the past 5 years the exports of Latvia to Netherlands have increased at an annualized rate of 10.6%,  from $580M in 2017 to $960M in 2022.

In 2020, Latvia exported services to Netherlands worth $132M, with Transportation ($64M), Other business services ($35.4M), and Personal, cultural, and recreational services ($14.8M) being the largest in terms of value.

Comparison In 2022,  Netherlands ranked 23 in the Economic Complexity Index (ECI 1.11),  and 6 in total exports ($674B). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Latest Trends

July, 2024

About

Overview In July 2024, Netherlands exported €56M and imported €51M from Latvia, resulting in a positive trade balance of €5M. Between July 2023 and July 2024 the exports of Netherlands have decreased by €-14M (-20%) from €70M to €56M, while imports increased by €14M (37.8%) from €37M to €51M.

Trade In July 2024, the top exports of Netherlands to Latvia were Undefined (€12M), Crude vegetable materials, n.e.s. (€5M), Fruit and nuts (not including oil... (€4M), Medicaments (including veterinary medicaments) (€4M), and Telecommunications equipment, n.e.s., and parts, n.e.s.,... (€3M). In July 2024 the top imports of Netherlands from Latvia were Fixed vegetable fats and oils, "soft",... (€15M), Petroleum oils and oils obtained from... (€13M), Miscellaneous chemical products, n.e.s. (€7M), Wood, simply worked, and railway sleepers... (€4M), and Pig-iron, spiegeleisen, sponge iron, iron or... (€4M).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (July 2023 - July 2024)€-14M(-20%)
IMPORT GROWTH (July 2023 - July 2024)€14M(37.8%)

This section shows exports and imports data at subnational level for Netherlands. Click any date in the line plot or any product to explore the exports or imports behavior of Netherlands over time.

To check Latvia and Netherlands trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Latvia and Netherlands Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Netherlands exported $1.05B to Latvia. The main products exported from Netherlands to Latvia were Packaged Medicaments ($62.8M), Refined Petroleum ($37.4M), and Industrial Fatty Acids, Oils and Alcohols ($36.3M). During the last 5 years the exports of Netherlands to Latvia have increased at an annualized rate of 10.8%, from $632M in 2017 to $1.05B in 2022.

In 2017, Latvia exported $960M to Netherlands. The main products exported from Latvia to Netherlands were Industrial Fatty Acids, Oils and Alcohols ($87M), Sawn Wood ($79M), and Rapeseed ($70.9M). During the last 5 years the exports of Latvia to Netherlands have increased at an annualized rate of 10.6%, from $580M in 2022 to $960M in 2017.

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

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

Market Competitiveness

Color
Netherlands
Top DestinationGermany$131B
Latvia
Top DestinationLithuania$4.09B

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

In 2022, countries that imported more from Netherlands than Latvia included Germany ($131B), Belgium ($94.3B), and France ($59.9B).

In 2022, countries that imported more from Latvia than Netherlands included Lithuania ($4.09B), Estonia ($2.26B), and Belarus ($194M).

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

Comparative Advantage Netherlands - Latvia

Flow
Scale

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

During 2022, Netherlands had a large net trade with Latvia in the exports of Machines ($254M), Chemical Products ($171M), and Vegetable Products ($143M).

During 2017, Latvia had a large net trade with Netherlands in the exports of Chemical Products ($191M), Vegetable Products ($157M), and Wood Products ($154M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Netherlands Latvia+$31.4MRefined Petroleum
Top Product Potential Latvia Netherlands+$19.4MPackaged 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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Bilateral Service Trade

In 2020, Netherlands exported services to Latvia worth $160M, with Transportation ($65.8M), Travel ($39.5M), and Other business services ($24.2M) being the largest in terms of value.

In 2020, Latvia exported services to Netherlands worth $132M, with Transportation ($64M), Other business services ($35.4M), and Personal, cultural, and recreational services ($14.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Netherlands (Flag) to Latvia (Flag) (2020)

Services Exports from Latvia (Flag) to Netherlands (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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