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2022
Flag → Flag
Exports $492MRnk 77 / 219
2022
Flag → Flag
Top Product $281MCoal Tar Oil
2022
Flag → Flag
Exports $247MRnk 20 / 194
2022
Flag → Flag
Top Product $123MScrap Iron
2022
Flag
Economic Complexity (ECI) ECI 0.6Rnk 41 / 133
2022
Flag  
GDP$906BCURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP GROWTH2.89%CURRENT US$
Rnk 160 / 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 $10,616CURRENT US$
Rnk 75 / 186
2012-2022
Flag
GDP PC GROWTH-9.24%CURRENT US$
Rnk 162 / 186
2022
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GDP PC$21,851CURRENT US$
Rnk 47 / 186
2012-2022
Flag
GDP PC GROWTH57.8%CURRENT US$
Rnk 30 / 186

About

Turkey-Latvia Trade: In 2022, Turkey exported $492M to Latvia. The main products that Turkey exported to Latvia were Coal Tar Oil ($281M), Jewellery ($13.4M), and Coated Flat-Rolled Iron ($11.9M). Over the past 5 years the exports of Turkey to Latvia have increased at an annualized rate of 31.4%, from $126M in 2017 to $492M in 2022.

In 2009, Turkey exported services to Latvia worth $0, with being the largest in terms of value.

Latvia-Turkey Trade: In 2022, Latvia exported $247M to Turkey. The main products that Latvia exported to Turkey were Scrap Iron ($123M), Plywood ($27.2M), and Wheat ($11.1M). Over the past 5 years the exports of Latvia to Turkey have increased at an annualized rate of 2.85%,  from $215M in 2017 to $247M in 2022.

In 2020, Latvia exported services to Turkey worth $3.43M, with Transportation ($2.28M) and Travel ($1.14M) being the largest in terms of value.

Comparison In 2022,  Turkey ranked 41 in the Economic Complexity Index (ECI 0.6),  and 29 in total exports ($262B). 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
Value

In 2022, Turkey exported $492M to Latvia. The main products exported from Turkey to Latvia were Coal Tar Oil ($281M), Jewellery ($13.4M), and Coated Flat-Rolled Iron ($11.9M). During the last 5 years the exports of Turkey to Latvia have increased at an annualized rate of 31.4%, from $126M in 2017 to $492M in 2022.

In 2017, Latvia exported $247M to Turkey. The main products exported from Latvia to Turkey were Scrap Iron ($123M), Plywood ($27.2M), and Wheat ($11.1M). During the last 5 years the exports of Latvia to Turkey have increased at an annualized rate of 2.85%, from $215M in 2022 to $247M in 2017.

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

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

Latest Data

Trade between Turkey (Flag) and Latvia (Flag)

Turkey Exports

Latvia Exports

Market Competitiveness

Color
Turkey
Top DestinationGermany$21.9B
Latvia
Top DestinationLithuania$4.09B

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

In 2022, countries that imported more from Turkey than Latvia included Germany ($21.9B), United States ($17.1B), and Iraq ($13.7B).

In 2022, countries that imported more from Latvia than Turkey included Lithuania ($4.09B), Estonia ($2.26B), and Finland ($1.06B).

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

Comparative Advantage Turkey - Latvia

Flow
Scale

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

During 2022, Turkey had a large net trade with Latvia in the exports of Mineral Products ($286M), Metals ($48.9M), and Machines ($32.4M).

During 2017, Latvia had a large net trade with Turkey in the exports of Metals ($131M), Wood Products ($32.8M), and Machines ($27M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Turkey Latvia+$6.82MMotor vehicles; parts and accessories (8701 to 8705)
Top Product Potential Latvia Turkey+$13MWheat

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

Tur Year

In 2009, Turkey exported services to Latvia worth $0, with being the largest in terms of value.

In 2020, Latvia exported services to Turkey worth $3.43M, with Transportation ($2.28M) and Travel ($1.14M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Turkey (Flag) to Latvia (Flag) (2009)

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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