Latvia (LVA) and Russia (RUS) Trade | The Observatory of Economic Complexity

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Latvia-Russia In 2022, Latvia exported $1.26B to Russia. The main products that Latvia exported to Russia are Wine ($151M), Hard Liquor ($148M), and Packaged Medicaments ($112M). During the last 27 years the exports of Latvia to Russia have increased at an annualized rate of 5.21%, from $320M in 1995 to $1.26B in 2022.

In 2020, Latvia exported services to Russia worth $267M, with Transportation ($144M), Travel ($38.8M), and Other business services ($30.8M) being the largest in terms of value.

Russia-Latvia In 2022, Russia exported $1.77B to Latvia. The main products that Russia exported to Latvia were Petroleum Gas ($562M), Electricity ($254M), and Refined Petroleum ($164M). During the last 27 years the exports of Russia to Latvia have increased at an annualized rate of 6%, from $368M in 1995 to $1.77B in 2022.

In 2020, Russia exported services to Latvia worth $311M, with Transportation ($167M), Computer and information services ($40.7M), and Other business services ($36.8M) being the largest in terms of value.

Comparison In 2022, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index. That same year, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Latvia exported $1.26B to Russia. The main products exported from Latvia to Russia were Wine ($151M), Hard Liquor ($148M), and Packaged Medicaments ($112M). During the last 27 years the exports of Latvia to Russia have increased at an annualized rate of 5.21%, from $320M in 1995 to $1.26B in 2022.

In 2022, Russia exported $1.77B to Latvia. The main products exported from Russia to Latvia were Petroleum Gas ($562M), Electricity ($254M), and Refined Petroleum ($164M). During the last 27 years the exports of Russia to Latvia have increased at an annualized rate of 6%, from $368M in 1995 to $1.77B in 2022.

Exports from Latvia () to Russia () (2022)

Exports from Russia () to Latvia () (2022)

Latest Data

Trade between Latvia () and Russia ()

Latvia Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Latvia
Top DestinationLithuania$4.09B

Russia
Top DestinationChina$101B

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

In 2021, countries that imported more from Latvia than Russia were Lithuania ($4.09B), Sweden ($1.19B), and Denmark ($972M).

In 2021, countries that imported more from Russia than Latvia were China ($101B), India ($40.4B), and Germany ($27.7B).

Difference in imports from Russia () and Latvia () (2022)

Comparative Advantage Latvia - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Latvia had a large net trade with Russia in the exports of Foodstuffs ($390M), Machines ($260M), and Chemical Products ($154M).

During 2022, Russia had a large net trade with Latvia in the exports of Mineral Products ($1.01B), Metals ($149M), and Vegetable Products ($135M).

Service Trade

Bilateral Service Trade

Rus Year

Lva Year

In 2020, Latvia exported services to Russia worth $267M, with Transportation ($144M), Travel ($38.8M), and Other business services ($30.8M) being the largest in terms of value.

In 2020, Russia exported services to Latvia worth $311M, with Transportation ($167M), Computer and information services ($40.7M), and Other business services ($36.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Latvia () to Russia () (2020)

Services Exports from Russia () to Latvia () (2020)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Latvia has comparative advantage over Russia. Similarly, the more yellow a dot/product is, the more Russia has comparative advantage over Latvia.

About

Historical Data

Bilateral Trade by Products

Exports from Latvia () to Russia () (2022)

Exports from Russia () to Latvia () (2022)

Latest Data

Trade between Latvia () and Russia ()

Latvia Exports

Russia Exports

Market Competitiveness

Difference in imports from Russia () and Latvia () (2022)

Comparative Advantage Latvia - Russia

Service Trade

Bilateral Service Trade

Services Exports from Latvia () to Russia () (2020)

Services Exports from Russia () to Latvia () (2020)

Economic Complexity

Competitive Landscape

Product Space of Latvia () and Russia () (2022)

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