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2023
Flag → Flag
Exports $3.43kRnk 69 / 82
2023
Flag → Flag
Top Product $3.33kKnit T-shirts
2023
Flag → Flag
Exports $187kRnk 159 / 198
2023
Flag → Flag
Top Product $58.1kKnit T-shirts
2023
Flag
 GDP$42.2BCURRENT US$
Rnk 100 / 195
2013-2023
Flag
GDP GROWTH44.9%CURRENT US$
Rnk 86 / 195
2023
Flag
GDP PC$22,503CURRENT US$
Rnk 56 / 196
2013-2023
Flag
GDP PC GROWTH55.4%CURRENT US$
Rnk 37 / 195

About

British Virgin Islands-Latvia Trade: In 2023, British Virgin Islands exported $3.43k to Latvia. The main products that British Virgin Islands exported to Latvia were Knit T-shirts ($3.33k) and Hard Liquor ($94). Over the past 6 years the exports of British Virgin Islands to Latvia have decreased at an annualized rate of 37.8%, from $59.3k in 2017 to $3.43k in 2023.

In 2023, British Virgin Islands did not export any services to Latvia.

Latvia-British Virgin Islands Trade: In 2023, Latvia exported $187k to British Virgin Islands. The main products that Latvia exported to British Virgin Islands were Knit T-shirts ($58.1k), Hard Liquor ($49.3k), and Packaged Medicaments ($40.4k). Over the past 6 years the exports of Latvia to British Virgin Islands have decreased at an annualized rate of 9.1%,  from $301k in 2017 to $187k in 2023.

In 2023, Latvia did not export any services to British Virgin Islands.

Comparison In 2023,  British Virgin Islands ranked 178 in total exports ($281M). That same year, Latvia ranked 80 in total exports ($19.9B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, British Virgin Islands exported $3.43k to Latvia. The main products exported from British Virgin Islands to Latvia were Knit T-shirts ($3.33k) and Hard Liquor ($94). During the last 6 years the exports of British Virgin Islands to Latvia have decreased at an annualized rate of 37.8%, from $59.3k in 2017 to $3.43k in 2023.

In 2018, Latvia exported $187k to British Virgin Islands. The main products exported from Latvia to British Virgin Islands were Knit T-shirts ($58.1k), Hard Liquor ($49.3k), and Packaged Medicaments ($40.4k). During the last 5 years the exports of Latvia to British Virgin Islands have decreased at an annualized rate of 9.1%, from $301k in 2023 to $187k in 2018.

Exports from British Virgin Islands (Flag) to Latvia (Flag) (2023)

Exports from Latvia (Flag) to British Virgin Islands (Flag) (2023)

Latest Data

Trade between British Virgin Islands (Flag) and Latvia (Flag)

Latvia Exports

Market Competitiveness

Color
British Virgin Islands
Top DestinationMalta$93.7M
Latvia
Top DestinationLithuania$3.77B

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

In 2023, countries that imported more from British Virgin Islands than Latvia included Malta ($93.7M), Guyana ($61.6M), and Barbados ($4.1M).

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

Difference in imports from Latvia (Flag) and British Virgin Islands (Flag) (2023)

Comparative Advantage British Virgin Islands - Latvia

Flow
Scale

This chart compares trade between British Virgin Islands and Latvia by product, considering products traded by both, British Virgin Islands and Latvia.

During 2023, British Virgin Islands had a large net trade with Latvia in the exports of Textiles ($3.33k) and Foodstuffs ($94).

During 2018, Latvia had a large net trade with British Virgin Islands in the exports of Textiles ($78k), Foodstuffs ($49.3k), and Chemical Products ($40.4k).

Economic Complexity

Competitive Landscape

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

Product Space of British Virgin Islands (Flag) and Latvia (Flag) (2023)

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