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2023
Flag → Flag
Exports $334MRnk 25 / 193
2023
Flag → Flag
Top Product $37.8MOther Plastic Products
2023
Flag → Flag
Exports $318MRnk 17 / 198
2023
Flag → Flag
Top Product $42.5MVideo Recording Equipment
2023
Flag
Economic Complexity (ECI) ECI 0.39Rnk 47 / 132
2023
Flag  
GDP$179BCURRENT US$
Rnk 57 / 195
2013-2023
Flag
GDP GROWTH-6.16%CURRENT US$
Rnk 179 / 195
2023
Flag
 GDP$42.2BCURRENT US$
Rnk 100 / 195
2013-2023
Flag
GDP GROWTH44.9%CURRENT US$
Rnk 86 / 195
2023
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GDP PC $5,070CURRENT US$
Rnk 122 / 195
2013-2023
Flag
GDP PC GROWTH22.8%CURRENT US$
Rnk 95 / 195
2023
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GDP PC$22,503CURRENT US$
Rnk 56 / 196
2013-2023
Flag
GDP PC GROWTH55.4%CURRENT US$
Rnk 37 / 195

About

Ukraine-Latvia Trade: In 2023, Ukraine exported $334M to Latvia. The main products that Ukraine exported to Latvia were Other Plastic Products ($37.8M), Rapeseed ($34.5M), and Processed Egg Products ($14.6M). Over the past 5 years the exports of Ukraine to Latvia have increased at an annualized rate of 3.19%, from $286M in 2018 to $334M in 2023.

In 2023, Ukraine did not export any services to Latvia.

Latvia-Ukraine Trade: In 2023, Latvia exported $318M to Ukraine. The main products that Latvia exported to Ukraine were Video Recording Equipment ($42.5M), Petroleum Gas ($30.7M), and Refined Petroleum ($24.2M). Over the past 5 years the exports of Latvia to Ukraine have increased at an annualized rate of 17%,  from $145M in 2018 to $318M in 2023.

In 2001, Latvia exported services to Ukraine worth $6.29M, with Transportation ($3.15M) and Other business services ($3.15M) being the largest in terms of value.

Comparison In 2023,  Ukraine ranked 47 in the Economic Complexity Index (ECI 0.39),  and 64 in total exports ($40.3B). That same year, Latvia ranked 80 in total exports ($19.9B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Ukraine exported $334M to Latvia. The main products exported from Ukraine to Latvia were Other Plastic Products ($37.8M), Rapeseed ($34.5M), and Processed Egg Products ($14.6M). During the last 5 years the exports of Ukraine to Latvia have increased at an annualized rate of 3.19%, from $286M in 2018 to $334M in 2023.

In 2018, Latvia exported $318M to Ukraine. The main products exported from Latvia to Ukraine were Video Recording Equipment ($42.5M), Petroleum Gas ($30.7M), and Refined Petroleum ($24.2M). During the last 5 years the exports of Latvia to Ukraine have increased at an annualized rate of 17%, from $145M in 2023 to $318M in 2018.

Exports from Ukraine (Flag) to Latvia (Flag) (2023)

Exports from Latvia (Flag) to Ukraine (Flag) (2023)

Latest Data

Trade between Ukraine (Flag) and Latvia (Flag)

Ukraine Exports

Latvia Exports

Market Competitiveness

Color
Ukraine
Top DestinationPoland$4.83B
Latvia
Top DestinationLithuania$3.77B

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

In 2023, countries that imported more from Ukraine than Latvia included Poland ($4.83B), Romania ($3.56B), and Turkey ($2.88B).

In 2023, countries that imported more from Latvia than Ukraine included Lithuania ($3.77B), Russia ($1.22B), and Estonia ($1.26B).

Difference in imports from Latvia (Flag) and Ukraine (Flag) (2023)

Comparative Advantage Ukraine - Latvia

Flow
Scale

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

During 2023, Ukraine had a large net trade with Latvia in the exports of Vegetable Products ($57.7M), Foodstuffs ($47.2M), and Plastics and Rubbers ($42.9M).

During 2018, Latvia had a large net trade with Ukraine in the exports of Machines ($64.6M), Mineral Products ($57.2M), and Foodstuffs ($53.7M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Ukraine Latvia+$2.78MWheat
Top Product Potential Latvia Ukraine+$5.57MPackaged 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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Economic Complexity

Competitive Landscape

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

Product Space of Ukraine (Flag) and Latvia (Flag) (2023)

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