Latvia

0.03

Econ Complexity 38th of 89
1993
2016

$11.4B

Exports 63rd of 120
1993
2016

$13.5B

Imports 66th of 120
1993
2016

$26k

GDP Per Capita 31st of 89
1993
2016
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Latvia is the 63rd largest export economy in the world and the 39th most complex economy according to the Economic Complexity Index (ECI). In 2016, Latvia exported $11.4B and imported $13.5B, resulting in a negative trade balance of $2.08B. In 2016 the GDP of Latvia was $27.7B and its GDP per capita was $26k.

The top exports of Latvia are Unspecified ($773M), Sawn Wood ($652M), Packaged Medicaments ($402M), Wheat ($381M) and Fuel Wood ($331M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Unspecified ($1.28B), Refined Petroleum ($799M), Cars ($590M), Packaged Medicaments ($504M) and Broadcasting Equipment ($369M).

The top export destinations of Latvia are Lithuania ($2.09B), Estonia ($1.38B), Russia ($871M), Germany ($826M) and Sweden ($688M). The top import origins are Russia ($4.84B), Lithuania ($2.47B), Germany ($1.85B), Poland ($1.37B) and Estonia ($1.21B).

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

Economic Complexity of Latvia

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