United States (USA) and Latvia (LVA) Trade

2022

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Exports $322MRnk 117 / 219

2022

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About

United States-Latvia In 2022, United States exported $322M to Latvia. The main products that United States exported to Latvia are Aircraft Parts ($44.2M), Planes, Helicopters, and/or Spacecraft ($32.8M), and Broadcasting Equipment ($23.7M). During the last 27 years the exports of United States to Latvia have increased at an annualized rate of 5.06%, from $84.9M in 1995 to $322M in 2022.

In 2017, United States exported services to Latvia worth $186M, with Travel ($75M), Financial services ($50M), and Transportation ($15M) being the largest in terms of value.

Latvia-United States In 2022, Latvia exported $702M to United States. The main products that Latvia exported to United States were Particle Board ($111M), Sawn Wood ($96.5M), and Broadcasting Equipment ($63.4M). During the last 27 years the exports of Latvia to United States have increased at an annualized rate of 7.39%, from $102M in 1995 to $702M in 2022.

In 2020, Latvia exported services to United States worth $183M, with Computer and information services ($112M), Other business services ($62.8M), and Communications services ($2.28M) being the largest in terms of value.

Comparison In 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index.

COMPANIES In 2023, leading companies such as DESIGN WITHIN REACH (6), ABB MOTORS AND MECHANICAL INC (6), and RED BULL NORTH AMERICA INC (5) were at the forefront of exporting goods from Latvia to the United States. Conversely, ARTILUX NMF UAB (6), MDT BALTIC SIA (4), and AMBER LATVIJAS BALZAMS AS (3) were notable for importing Latvia products to the United States.

Latest Trends

February, 2024

About

Overview In February 2024, United States exported $109M and imported $45.8M from Latvia, resulting in a positive trade balance of $63.6M. Between February 2023 and February 2024 the exports of United States have increased by $82.6M (308%) from $26.8M to $109M, while imports increased by $804k (1.79%) from $45M to $45.8M.

Trade In February 2024, the top exports of United States to Latvia were Coal Briquettes ($15.7M), Commodities not elsewhere specified ($6.29M), Cars ($4.09M), Other Edible Preparations ($1.74M), and Motor vehicles; parts and accessories (8701... ($1.33M). In February 2024 the top imports of United States from Latvia were Sawn Wood ($15.4M), Hard Liquor ($9.85M), Telephones ($3.29M), Commodities not elsewhere specified ($3.1M), and Particle Board ($2.87M).

Origins In February 2024 the exports of United States were mainly from Georgia ($85M), New York ($5.99M), Tennessee ($3.51M), California ($3.01M), and Texas ($1.57M), while imports destinations were mainly Texas ($8.05M), Maryland ($7.55M), New Jersey ($4.15M), New York ($3.9M), and Pennsylvania ($2.73M).

Growth In February 2024, the increase in United States's year-by-year exports to Latvia was explained primarily by an increase in product exports in Commodities not elsewhere specified ($5.94M or 1.7k%), Motor vehicles; parts and accessories (8701... ($1.21M or 1.04k%), and Cars ($930k or 29.4%). In February 2024, the increase in United States's year-by-year imports from Latvia was explained primarily by an increase in product imports in Sawn Wood ($14.2M or 1.18k%), Commodities not elsewhere specified ($2.09M or 205%), and Book-binding Machines ($1.91M or 947%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$82.6M(308%)

IMPORT GROWTH (February 2023 - February 2024)$804k(1.79%)

MAIN EXPORTER (February 2024)Georgia$85M

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

To check Latvia and United States trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, United States exported $322M to Latvia. The main products exported from United States to Latvia were Aircraft Parts ($44.2M), Planes, Helicopters, and/or Spacecraft ($32.8M), and Broadcasting Equipment ($23.7M). During the last 27 years the exports of United States to Latvia have increased at an annualized rate of 5.06%, from $84.9M in 1995 to $322M in 2022.

In 2022, Latvia exported $702M to United States. The main products exported from Latvia to United States were Particle Board ($111M), Sawn Wood ($96.5M), and Broadcasting Equipment ($63.4M). During the last 27 years the exports of Latvia to United States have increased at an annualized rate of 7.39%, from $102M in 1995 to $702M in 2022.

Exports from United States () to Latvia () (2022)

Exports from Latvia () to United States () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$308B

Latvia
Top DestinationLithuania$4.09B

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

In 2021, countries that imported more from United States than Latvia were Canada ($308B), Mexico ($294B), and China ($151B).

In 2021, countries that imported more from Latvia than United States were Estonia ($2.26B), Lithuania ($4.09B), and Belarus ($194M).

Difference in imports from Latvia () and United States () (2022)

Comparative Advantage United States - Latvia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United States had a large net trade with Latvia in the exports of Transportation ($92M), Machines ($85.7M), and Instruments ($25.5M).

During 2022, Latvia had a large net trade with United States in the exports of Wood Products ($232M), Machines ($158M), and Foodstuffs ($62.9M).

Service Trade

Bilateral Service Trade

Lva Year

Usa Year

In 2017, United States exported services to Latvia worth $186M, with Travel ($75M), Financial services ($50M), and Transportation ($15M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United States () to Latvia () (2017)

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

Product Space of United States () and Latvia () (2022)

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