Latvia is the 82nd largest export economy in the world and the 30th most complex economy according to the Economic Complexity Index (ECI). In 2016, Latvia exported $11.2B and imported $13.5B, resulting in a negative trade balance of $2.31B. In 2016 the GDP of Latvia was $27.6B and its GDP per capita was $25.6k.
The top exports of Latvia are Sawn Wood ($631M), Refined Petroleum ($548M), Hard Liquor ($384M), Packaged Medicaments ($382M) and Wheat ($377M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Refined Petroleum ($934M), Cars ($608M), Packaged Medicaments ($512M), Broadcasting Equipment ($378M) and Petroleum Gas ($306M).
The top export destinations of Latvia are Lithuania ($2.07B), the United Kingdom ($861M), Russia ($732M), Germany ($727M) and Estonia ($719M). The top import origins are Lithuania ($2.14B), Germany ($1.43B), Poland ($1.32B), Russia ($1.22B) and Estonia ($961M).