Latvia

0.65

Econ Complexity 35th of 126
1993
2017

$12.4B

Exports 78th of 221
1993
2017

$16.4B

Imports 78th of 221
1993
2017

$28.2k

GDP Per Capita 52nd of 214
1993
2017
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Looking for commercial partners in Latvia? List your company on Macro Market.

Latvia is the 78th largest export economy in the world and the 35th most complex economy according to the Economic Complexity Index (ECI). In 2017, Latvia exported $12.4B and imported $16.4B, resulting in a negative trade balance of $4.03B. In 2017 the GDP of Latvia was $30.3B and its GDP per capita was $28.2k.

The top exports of Latvia are Sawn Wood ($696M), Broadcasting Equipment ($532M), Hard Liquor ($501M), Wheat ($423M) and Packaged Medicaments ($418M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Refined Petroleum ($1.03B), Cars ($699M), Broadcasting Equipment ($659M), Packaged Medicaments ($549M) and Petroleum Gas ($456M).

The top export destinations of Latvia are Lithuania ($2.03B), Russia ($999M), Germany ($903M), Estonia ($855M) and the United Kingdom ($772M). The top import origins are Lithuania ($2.77B), Germany ($1.68B), Russia ($1.61B), Poland ($1.39B) and Estonia ($1.16B).

Latvia borders Belarus, Estonia, Lithuania and Russia by land and Sweden by sea.

Economic Complexity of Latvia

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