Saudi Arabia (SAU) and Latvia (LVA) Trade | The Observatory of Economic Complexity

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Saudi Arabia-Latvia Trade: In 2022, Saudi Arabia exported $2.46M to Latvia. The main products that Saudi Arabia exported to Latvia were Acrylic Polymers ($2.44M), Motor vehicles; parts and accessories (8701 to 8705) ($2.83k), and Non-Knit Men's Coats ($1.46k). Over the past 5 years the exports of Saudi Arabia to Latvia have increased at an annualized rate of 27.2%, from $738k in 2017 to $2.46M in 2022.

In 2022, Saudi Arabia did not export any services to Latvia.

Latvia-Saudi Arabia Trade: In 2022, Latvia exported $149M to Saudi Arabia. The main products that Latvia exported to Saudi Arabia were Wheat ($132M), Peat ($5.64M), and Sawn Wood ($1.85M). Over the past 5 years the exports of Latvia to Saudi Arabia have increased at an annualized rate of 0.61%, from $145M in 2017 to $149M in 2022.

In 2022, Latvia did not export any services to Saudi Arabia.

Comparison In 2022, Saudi Arabia ranked 35 in the Economic Complexity Index (ECI 0.78), and 23 in total exports ($362B). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Saudi Arabia exported $2.46M to Latvia. The main products exported from Saudi Arabia to Latvia were Acrylic Polymers ($2.44M), Motor vehicles; parts and accessories (8701 to 8705) ($2.83k), and Non-Knit Men's Coats ($1.46k). During the last 5 years the exports of Saudi Arabia to Latvia have increased at an annualized rate of 27.2%, from $738k in 2017 to $2.46M in 2022.

In 2017, Latvia exported $149M to Saudi Arabia. The main products exported from Latvia to Saudi Arabia were Wheat ($132M), Peat ($5.64M), and Sawn Wood ($1.85M). During the last 5 years the exports of Latvia to Saudi Arabia have increased at an annualized rate of 0.61%, from $145M in 2022 to $149M in 2017.

Exports from Saudi Arabia () to Latvia () (2022)

Exports from Latvia () to Saudi Arabia () (2022)

Latest Data

Trade between Saudi Arabia () and Latvia ()

Saudi Arabia Exports

Date

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Saudi Arabia
Top DestinationChina$68B

Latvia
Top DestinationLithuania$4.09B

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

In 2022, countries that imported more from Saudi Arabia than Latvia included China ($68B), India ($46.2B), and Japan ($36.5B).

In 2022, countries that imported more from Latvia than Saudi Arabia included Estonia ($2.26B), Lithuania ($4.09B), and Russia ($1.26B).

Difference in imports from Latvia () and Saudi Arabia () (2022)

Comparative Advantage Saudi Arabia - Latvia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Saudi Arabia had a large net trade with Latvia in the exports of Plastics and Rubbers ($2.44M), Machines ($5.55k), and Textiles ($4.29k).

During 2017, Latvia had a large net trade with Saudi Arabia in the exports of Vegetable Products ($132M), Mineral Products ($5.64M), and Machines ($3.56M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Saudi Arabia Latvia+$14.6kMotor vehicles; parts and accessories (8701 to 8705)

Top Product Potential Latvia Saudi Arabia+N/AN/A

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 Saudi Arabia and Latvia. This means that a dot/product with the flag of Saudi Arabia indicates it has a comparative advantage over Latvia. Similarly, a dot/product with the flag of Latvia indicates it has a comparative advantage over Saudi Arabia.

About

Historical Data

Bilateral Trade by Products

Exports from Saudi Arabia () to Latvia () (2022)

Exports from Latvia () to Saudi Arabia () (2022)

Latest Data

Trade between Saudi Arabia () and Latvia ()

Saudi Arabia Exports

Latvia Exports

Market Competitiveness

Difference in imports from Latvia () and Saudi Arabia () (2022)

Comparative Advantage Saudi Arabia - Latvia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Saudi Arabia () and Latvia () (2022)

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