Romania / Latvia

Romania-Latvia Trade: In 2023, Romania exported $83.7M to Latvia. The main products that Romania exported to Latvia were Packaged Medicaments ($18.2M), Rolled Tobacco ($11M), and Other Heating Machinery ($3.88M). Over the past 5 years the exports of Romania to Latvia have increased at an annualized rate of 20.8%, from $32.6M in 2018 to $83.7M in 2023.

In 2020, Romania exported services to Latvia worth $7.65M, with Transportation ($2.17M), Communications services ($1.6M), and Other business services ($1.6M) being the largest in terms of value.

Latvia-Romania Trade: In 2023, Latvia exported $68.9M to Romania. The main products that Latvia exported to Romania were Hard Liquor ($4.83M), Iron Structures ($4.11M), and Integrated Circuits ($3.27M). Over the past 5 years the exports of Latvia to Romania have increased at an annualized rate of 15.9%,  from $33M in 2018 to $68.9M in 2023.

In 2020, Latvia exported services to Romania worth $4.57M, with Other business services ($3.43M) and Travel ($1.14M) being the largest in terms of value.

Comparison In 2023,  Romania ranked 28 in the Economic Complexity Index (ECI 1.02),  and 41 in total exports ($104B). That same year, Latvia ranked 80 in total exports ($19.9B), and does not have data regarding Economic Complexity Index.