Singapore (SGP) and Latvia (LVA) Trade | The Observatory of Economic Complexity

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Singapore-Latvia Trade: In 2022, Singapore exported $29.9M to Latvia. The main products that Singapore exported to Latvia were Ethers ($10.1M), Packaged Medicaments ($8.03M), and Vaccines, blood, antisera, toxins and cultures ($1.42M). Over the past 5 years the exports of Singapore to Latvia have increased at an annualized rate of 6.88%, from $21.5M in 2017 to $29.9M in 2022.

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

Latvia-Singapore Trade: In 2022, Latvia exported $34.6M to Singapore. The main products that Latvia exported to Singapore were N/A. Over the past 5 years the exports of Latvia to Singapore have decreased at an annualized rate of 9.14%, from $55.9M in 2017 to $34.6M in 2022.

In 2020, Latvia exported services to Singapore worth $34.3M, with Other business services ($19.4M), Transportation ($10.3M), and Computer and information services ($4.57M) being the largest in terms of value.

Comparison In 2022, Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B). 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, Singapore exported $29.9M to Latvia. The main products exported from Singapore to Latvia were Ethers ($10.1M), Packaged Medicaments ($8.03M), and Vaccines, blood, antisera, toxins and cultures ($1.42M). During the last 5 years the exports of Singapore to Latvia have increased at an annualized rate of 6.88%, from $21.5M in 2017 to $29.9M in 2022.

In 2017, Latvia exported $34.6M to Singapore. There were not main exports from Latvia to Singapore in 2017. During the last 5 years the exports of Latvia to Singapore have decreased at an annualized rate of 9.14%, from $55.9M in 2022 to $34.6M in 2017.

Exports from Singapore () to Latvia () (2022)

Exports from Latvia () to Singapore () (2022)

Latest Data

Trade between Singapore () and Latvia ()

Singapore Exports

Date

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Singapore
Top DestinationHong Kong$51.6B

Latvia
Top DestinationLithuania$4.09B

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

In 2022, countries that imported more from Singapore than Latvia included Hong Kong ($51.6B), China ($51.2B), and Malaysia ($35.9B).

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

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

Comparative Advantage Singapore - Latvia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Singapore had a large net trade with Latvia in the exports of Chemical Products ($21.1M), Machines ($4.08M), and Transportation ($1.02M).

During 2017, Latvia had a large net trade with Singapore in the exports of Chemical Products ($14.7M), Machines ($11M), and Foodstuffs ($4.35M).

Bilateral Service Trade

Lva Year

In 2020, Latvia exported services to Singapore worth $34.3M, with Other business services ($19.4M), Transportation ($10.3M), and Computer and information services ($4.57M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Latvia () to Singapore () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Singapore () to Latvia () (2022)

Exports from Latvia () to Singapore () (2022)

Latest Data

Trade between Singapore () and Latvia ()

Singapore Exports

Latvia Exports

Market Competitiveness

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

Comparative Advantage Singapore - Latvia

Bilateral Service Trade

Services Exports from Latvia () to Singapore () (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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