Romania (ROU) and Latvia (LVA) Trade | The Observatory of Economic Complexity

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Romania-Latvia In 2022, Romania exported $73.3M to Latvia. The main products that Romania exported to Latvia are Packaged Medicaments ($17.9M), Rolled Tobacco ($4.94M), and Computers ($3.85M). During the last 27 years the exports of Romania to Latvia have increased at an annualized rate of 23.9%, from $226k in 1995 to $73.3M in 2022.

In 2020, Romania exported services to Latvia worth $7.65M, with Transportation ($2.17M), Communications services ($1.6M), and Other business services ($1.6M) being the largest in terms of value.

Latvia-Romania In 2022, Latvia exported $64.5M to Romania. The main products that Latvia exported to Romania were Hard Liquor ($3.95M), Cheese ($3.77M), and Peat ($3.03M). During the last 27 years the exports of Latvia to Romania have increased at an annualized rate of 17.4%, from $841k in 1995 to $64.5M in 2022.

In 2020, Latvia exported services to Romania worth $4.57M, with Other business services ($3.43M) and Travel ($1.14M) being the largest in terms of value.

Comparison In 2022, Romania ranked 26 in the Economic Complexity Index (ECI 1.03), and 43 in total exports ($99.5B). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Romania exported $73.3M to Latvia. The main products exported from Romania to Latvia were Packaged Medicaments ($17.9M), Rolled Tobacco ($4.94M), and Computers ($3.85M). During the last 27 years the exports of Romania to Latvia have increased at an annualized rate of 23.9%, from $226k in 1995 to $73.3M in 2022.

In 2022, Latvia exported $64.5M to Romania. The main products exported from Latvia to Romania were Hard Liquor ($3.95M), Cheese ($3.77M), and Peat ($3.03M). During the last 27 years the exports of Latvia to Romania have increased at an annualized rate of 17.4%, from $841k in 1995 to $64.5M in 2022.

Exports from Romania () to Latvia () (2022)

Exports from Latvia () to Romania () (2022)

Latest Data

Trade between Romania () and Latvia ()

Romania Exports

Date

Latvia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Romania
Top DestinationGermany$18.8B

Latvia
Top DestinationLithuania$4.09B

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

In 2021, countries that imported more from Romania than Latvia were Germany ($18.8B), Italy ($9.55B), and Hungary ($6.75B).

In 2021, countries that imported more from Latvia than Romania were Lithuania ($4.09B), Estonia ($2.26B), and Russia ($1.26B).

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

Comparative Advantage Romania - Latvia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Romania had a large net trade with Latvia in the exports of Chemical Products ($22.1M), Machines ($15.5M), and Metals ($11.4M).

During 2022, Latvia had a large net trade with Romania in the exports of Foodstuffs ($9.86M), Machines ($9.43M), and Vegetable Products ($6.68M).

Service Trade

Bilateral Service Trade

Lva Year

Rou Year

In 2020, Romania exported services to Latvia worth $7.65M, with Transportation ($2.17M), Communications services ($1.6M), and Other business services ($1.6M) being the largest in terms of value.

In 2020, Latvia exported services to Romania worth $4.57M, with Other business services ($3.43M) and Travel ($1.14M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Latvia () to Romania () (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 Romania has comparative advantage over Latvia. Similarly, the more yellow a dot/product is, the more Latvia has comparative advantage over Romania.

About

Historical Data

Bilateral Trade by Products

Exports from Romania () to Latvia () (2022)

Exports from Latvia () to Romania () (2022)

Latest Data

Trade between Romania () and Latvia ()

Romania Exports

Latvia Exports

Market Competitiveness

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

Comparative Advantage Romania - Latvia

Service Trade

Bilateral Service Trade

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

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

Economic Complexity

Competitive Landscape

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

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