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Pricing

2022
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Exports $1.77BRnk 42 / 138
2022
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Top Product $562MPetroleum Gas
2022
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Exports $1.26BRnk 4 / 194
2022
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Top Product $151MWine
2022
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Economic Complexity (ECI) ECI 0.42Rnk 45 / 124
2022
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GDP$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
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GDP GROWTH1.45%CURRENT US$
Rnk 164 / 186
2022
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 GDP$41.2BCURRENT US$
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2012-2022
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GDP GROWTH46.1%CURRENT US$
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2022
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GDP PC $15,345CURRENT US$
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2012-2022
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GDP PC GROWTH-0.49%CURRENT US$
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2022
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GDP PC$21,851CURRENT US$
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2012-2022
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GDP PC GROWTH57.8%CURRENT US$
Rnk 30 / 186

About

Russia-Latvia In 2022, Russia exported $1.77B to Latvia. The main products that Russia exported to Latvia are 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.

Latvia-Russia In 2022, Latvia exported $1.26B to Russia. The main products that Latvia exported 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 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.

Comparison In 2022,  Russia ranked 45 in the Economic Complexity Index (ECI 0.42),  and 12 in total exports ($486B). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $419M and imported $28.4M from Latvia, resulting in a positive trade balance of $391M. Between January 2021 and January 2022 the exports of Russia have increased by $100M (31.5%) from $319M to $419M, while imports increased by $2.51M (9.69%) from $25.9M to $28.4M.

Trade In January 2022, the top exports of Russia to Latvia were Refined Petroleum ($161M), Electricity ($23.9M), Wheat ($19.6M), Other Vegetable Residues ($12.7M), and Coated Flat-Rolled Iron ($8.14M). In January 2022 the top imports of Russia from Latvia were Packaged Medicaments ($3.41M), Precious Metal Scraps ($2.13M), Electric Motors ($1.98M), Electrical Control Boards ($1.34M), and Wallpaper ($967k).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($79.4M), VOLOGDA REGION ($78.4M), ST. PETERSBURG ($61.9M), LENINGRAD REGION ($36.1M), and REPUBLIC OF TATARSTAN ($25.9M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($11.6M), PSKOV REGION ($3.26M), MOSCOW REGION ($3.11M), ST. PETERSBURG ($1.91M), and KALININGRAD REGION ($1.42M).

Growth In January 2022, the increase in Russia's year-by-year exports to Latvia was explained primarily by an increase in product exports in Wheat ($19.5M or 15.4k%), Malt ($4.66M or 37.6k%), and Other Small Iron Pipes ($4.62M or 1.86k%). In January 2022, the increase in Russia's year-by-year imports  from Latvia was explained primarily by an increase in product imports  in Packaged Medicaments ($2.34M or 218%), Recovered Paper ($760k or 1.02k%), and Electric Motors ($702k or 55%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (January 2021 - January 2022)$100M(31.5%)
IMPORT GROWTH (January 2021 - January 2022)$2.51M(9.69%)
MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$79.4M

This section shows exports and imports data at subnational level for Russia. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Russia over time.

To check Latvia and Russia trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

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.

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.

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

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

Market Competitiveness

Color
Russia
Top DestinationChina$101B
Latvia
Top DestinationLithuania$4.09B

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

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

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

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

Comparative Advantage Russia - Latvia

Flow
Scale

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

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

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

Service Trade

Bilateral Service Trade

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.

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.

Service trade data is presented based on availability.

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

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

Economic Complexity

Competitive Landscape

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 Russia has comparative advantage over Latvia. Similarly, the more yellow a dot/product is, the more Latvia has comparative advantage over Russia.

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

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