Country export capability

Latvia
export capability

A reported view of Latvia's export scale, destination network, sector breadth, trade history, and market-access context. Use the indicators together; no single measure describes export readiness on its own.

LVA1995-2024 coverage270 active partner marketsMacro trend resilient
Latest exports$18.6B2024 reported value
Latest imports$23.9B2024 reported value
Trade balance-$5.3BExports minus imports
Export growth-6.1%Latest year-on-year change
Active partners270Latest reported markets

Country export profile overview

Latvia export data in one research view

This profile brings together export performance, trade balance, destination markets, HS2 sectors, partner breadth, history, and market-access context for country export research.

Export scale and balance

Start with the latest reported trade position

In 2024, Latvia recorded $18.6B in exports and $23.9B in imports. The resulting -$5.3B trade balance gives the latest country-level position a clear context.

Exports changed -6.1% year on year and show a calculated +0.7% three-year CAGR. CAGR is an annualized comparison of reported values, not a forecast.

Markets and sectors

See where export value is concentrated

Lithuania received $3.6B in reported exports, representing 19.4% of the latest country total. Wood and wood articles was the largest displayed HS2 export sector at $3.2B and 17.2% of exports.

The visible page highlights five leading destinations and five leading HS2 sectors, while the complete structured files retain every row supplied for this sample.

History and coverage

Read today's number against the long series

The country series covers 1995 through 2024, with 30 observed annual rows. That longer view helps separate a single-year movement from the broader export trend.

Partner counts, tariff context, concentration, exposure shares, and momentum are supporting indicators calculated from available trade observations. Missing values remain unavailable rather than estimated.

Economy and structure

The context around Latvia's export base

Macroeconomic and structural indicators add context to merchandise trade scale. They describe the country environment; they do not predict company performance or future exports.

GDP$43.7B2024 macro context
GDP per capita$23.4KCurrent-dollar GDP
Population1.9MReported population
Labor force892.4Reported labor force
Investment rate28.9%National investment rate
Savings rate22.2%National savings rate
Trade openness110.9%Exports + imports / GDP
Exports / GDP48.5%Merchandise exports / GDP
Secondary education98.6%Education context
Tertiary education30.2%Education context

Market signals

Where to look more closely next

Route-level risk and emerging-corridor signals for further research. These are calculated indicators, not forecasts.

Destination risk contextAll covered routes
Destination risk context for Latvia
DestinationAttentionAttention shareBelow peakApplied tariffPrimary reason
LithuaniaLTUWatch39.3%21%1.3%Volatile products account for the largest observed corridor exposure
NigeriaNGACritical attention99.8%64.3%20.6%Current trade remains materially below historical peaks
EstoniaESTWatch39.2%27.7%0.2%Volatile products account for the largest observed corridor exposure
United KingdomGBRHigh attention61.2%28.1%0%Buyer-market concentration is the largest observed corridor exposure
GermanyDEUWatch14.2%27.5%1.8%Volatile products account for the largest observed corridor exposure
FinlandFINHigh attention50.1%20.4%1.6%Buyer-market concentration is the largest observed corridor exposure
USA, Puerto Rico and US Virgin IslandsUSAWatch49.7%24.9%2.3%Volatile products account for the largest observed corridor exposure
UzbekistanUZBHigh attention42.4%43.4%14.1%Buyer-market concentration is the largest observed corridor exposure
SwedenSWEWatch27.4%26.6%1.6%Volatile products account for the largest observed corridor exposure
SpainESPWatch23.9%19.7%1.8%Volatile products account for the largest observed corridor exposure

Full route coverage is retained. High attention means the route deserves closer product and access review.

Market opportunity signals

Product-market combinations worth investigating

All returned rows use buyer demand, exporter position, and calculated addressable-value fields. They are research signals, not forecasts.

Addressable-value signalsAll returned rows
Market opportunity signals for Latvia
RankMarket and productBuyer importsAddressable 3-year valueCurrent shareDemand signal
1USA, Puerto Rico and US Virgin IslandsHS6 270900 · Oils: petroleum oils and oils obtained from bituminous minerals, crude$165.0B$115.5B0%Declining +1.1%
2ChinaHS6 270900 · Oils: petroleum oils and oils obtained from bituminous minerals, crude$291.6B$98.7B0%Declining -6.7%
3ChinaHS6 854231 · Electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits$158.0B$93.1B0%Growing +10.5%
4IndiaHS6 270900 · Oils: petroleum oils and oils obtained from bituminous minerals, crude$130.1B$73.0B0%Declining -0.5%
5ChinaHS6 854232 · Electronic integrated circuits: memories$80.6B$65.7B0%Growing +20.6%
6ChinaHS6 854239 · Electronic integrated circuits: n.e.c. in heading no. 8542$81.8B$61.4B0%Growing +4%
7USA, Puerto Rico and US Virgin IslandsHS6 851712 · Telephones for cellular networks or for other wireless networks$53.9B$53.8B0%Growing -8.8%
8USA, Puerto Rico and US Virgin IslandsHS6 847150 · Digital processing units: other than those of subheadings 8471.41 or 8471.49, whether or not containing in the same housing one or two of the following types of unit: storage units, input units or output units$53.9B$45.6B0%Growing +60.2%

Addressable value is a calculated field. Validate product, buyer, tariff, and route conditions before commercial decisions.

Detailed export portfolioHS4 lines beneath the leading sectorsOpen the detailed four-digit export table for Latvia.
All HS4 export lines2024 ranking
Top HS4 export lines for Latvia
RankHS4Parent HS2 sectorExportsShareActive HS6
14407HS4 detail codeWood and wood articles (44) ↗$843.5M4.5%18
24401HS4 detail codeWood and wood articles (44) ↗$714.4M3.8%7
38517HS4 detail codeElectrical machinery (85) ↗$660.2M3.6%7
43004HS4 detail codePharmaceutical products (30) ↗$594.3M3.2%12
51001HS4 detail codeCereals (10) ↗$571.5M3.1%4
62710HS4 detail codeMineral fuels (27) ↗$505.9M2.7%5
72208HS4 detail codeBeverages (22) ↗$493.6M2.7%7
84403HS4 detail codeWood and wood articles (44) ↗$480.5M2.6%18
94412HS4 detail codeWood and wood articles (44) ↗$386.9M2.1%7
102711HS4 detail codeMineral fuels (27) ↗$371.6M2%7
118703HS4 detail codeVehicles (87) ↗$367.9M2%14
122703HS4 detail codeMineral fuels (27) ↗$356.1M1.9%1

HS4 values are reported observations. The hierarchy is preserved; no missing descriptions are inferred.

The country export read

Latvia combines $18.6B in exports with a broad partner network.

In 2024, Latvia recorded $18.6B in reported exports and $23.9B in imports, producing a reported trade deficit of $5.3B. Exports changed -6.1% year on year and +0.7% annualized over three years. Wood and wood articles (HS2 44) was the largest displayed export sector by value.

Destination network

Where Latvia exports move

All returned destination lanes ranked by latest reported export value. Share is calculated against the country total. Review sources ↗

Latest reported destination lanesAll returned · 2024
Leading export destinations for Latvia
RankDestinationLatest exportsShareYear-on-year3-year CAGR
1LithuaniaLTU$3.6B19.4%-6.3%+0.4%
2EstoniaEST$1.7B9.2%-2.2%+4.1%
3GermanyDEU$1.1B6%-10.6%-5.4%
4RussiaRUS$1.1B5.8%-11.2%+9.2%
5SwedenSWE$1.0B5.6%-9%+0.5%
6United KingdomGBR$1.0B5.6%+7.9%-10.7%
7DenmarkDNK$829.8M4.5%-1.2%-0.4%
8PolandPOL$737.1M4%+8.8%+1.4%
9NetherlandsNLD$655.3M3.5%+0.6%-6.3%
10USA, Puerto Rico and US Virgin IslandsUSA$599.1M3.2%+1.3%-0.2%

Destination values are reported country-to-country observations. Full returned rows remain in the downloads.

Trade history

A long view of export scale

Latest twelve years from the 30-year reported country series. Context, not a forecast.

Reported exports by year

2013
$13.0B
2014
$14.2B
2015
$11.7B
2016
$11.6B
2017
$12.9B
2018
$15.4B
2019
$14.3B
2020
$14.8B
2021
$18.2B
2022
$22.0B
2023
$19.8B
2024
$18.6B

Partner network

Scale is only one part of export capability

Partner breadth, distance, agreements, and tariffs add context to reported exports.

FTA partner markets108Reported count
WTO partner markets169Reported count
EU partner markets28Reported count
Shared-border partners4Country context
Shared-language partners0Country context
Average partner distance6,728 kmCalculated average
Partners with FTA40%Calculated share
Applied tariff context0.1%Calculated average
MFN tariff context0.1%Calculated average
Tariff advantage+0.1 ppPreferential vs MFN

Exposure context

Signals to examine alongside export scale

Calculated or classified route and country context. Not predictions or recommendations.

Attention share36.8%

Covered value under attention

Critical share3.9%

Covered value marked critical

Below historical peak23.9%

Distance below route peaks

FTA-covered exports80.6%

Covered value with FTA context

Weighted tariff context0%

Export-weighted tariff

Macro contextMacro trend resilient

Primary attention driver: High trade volatility.

Momentum score-4.1

History-based indicator

Partner concentration692.3

Partner HHI

Product concentration63.2

Product HHI

Country attention level: Watch. Missing fields remain unavailable.

Complete country valuesOpen the full profile evidenceFull history, sectors, HS4, destinations, risk, opportunities, and source fields.

Profile fields

Year2,024
Country Iso3LVA
Exports Usd$18.6B
Imports Usd$23.9B
Trade Balance Usd-$5.3B
Yoy Exports Growth Pct-6.1%
Yoy Imports Growth Pct-6.1%
Exports Cagr 3y Pct0.7%
Imports Cagr 3y Pct-0.6%
Export Partner Hhi692.3
Export Product Hhi63.2
Momentum Score-4.1
Risk Score3.8
Gdp Million Usd43,684.25 million USD
Gdp Per Capita Usd$23.4K
Population1,866,124
Labor Force892.4
Investment Rate Pct28.9%
Savings Rate Pct22.2%
Secondary Education Pct98.6%
Tertiary Education Pct30.2%
Total Factor Productivity1,185
Trade Openness Pct110.9%
Exports Gdp Pct48.5%
Num Active Partners270
Num Fta Partners108
Num Wto Partners169
Num Eu Partners28
Num Shared Border Partners4
Num Shared Language Partners0
Avg Partner Distance Km6,728 km
Avg Partner Gdp Million Usd533,678,518.33 million USD
Avg Partner Gdp Per Capita Usd$15.8
Avg Buyer Biz Entry DaysNot reported
Avg Buyer Biz Entry Cost PctNot reported
Pct Partners With Fta40
Pct Partners Shared Language0
Pct Partners Shared Border1
Avg Applied Tariff Pct0.1%
Avg Mfn Tariff Pct0.1%
Avg Preferential Tariff Pct0%
Tariff Advantage Pp+0.1 pp
Avg Distance All Partners Km6,727
Num Border Partners100
Num Colonial Partners25
Avg Substitution Elasticity-10.6
Pct Products High Elasticity75
Pct Products Low Elasticity3
Real Market Potential30,425,024.5
Foreign Market Potential573,430.9

Exposure fields

Country Iso3LVA
All History Lane Count12,788
Current Lane Count8,694
Critical Lane Count12
High Attention Lane Count706
High Volatility Lane Count5,678
Unrecovered Drawdown Lane Count2,944
Declining Demand Lane Count43
Concentrated Market Lane Count2,821
Access Friction Lane Count260
Buyer Macro Weakness Lane Count122
Monitored Exports Current Usd$15.7B
Attention Exports Usd$5.8B
Critical Exports Usd$612.7M
High Volatility Exports Usd$8.4B
Unrecovered Drawdown Exports Usd$3.0B
Non Fta Exports Usd$3.0B
Monitored Attention Share Pct36.8%
Monitored Critical Share Pct3.9%
Fta Covered Exports Share Pct80.6%
Export Weighted Volatility Cv1.1
Export Weighted Below Peak Pct23.9%
Export Weighted Distance Km1,661 km
Export Weighted Tariff Pct0%
Latest Data Year2,024
First Data Year1,995
Country Years Count30
Total Exports Latest Usd$18.6B
Total Imports Latest Usd$23.9B
Trade Balance Latest Usd-$5.3B
Exports Yoy Latest Pct-6.1%
Exports Cagr 3y Latest Pct0.7%
Gdp Latest Million Usd43,684.25 million USD
Gdp Per Capita Latest Usd$23.4K
Population Latest1,866,124
Investment Rate Latest Pct28.9%
Savings Rate Latest Pct22.2%
Trade Openness Latest Pct110.9%
Exports Gdp Latest Pct48.5%
Active Partners Latest270
Fta Partners Latest108
Foreign Market Potential Latest573,430.9
Gdp 5y Cagr Pct5.7%
Gdp Per Capita 5y Cagr Pct6.2%
Population 5y Cagr Pct-0.5%
Partner Hhi Latest692.3
Partner Top1 Share Latest Pct19.4%
Partner Top3 Share Latest Pct34.6%
Partner Hhi All Avg739.1
Partner Hhi All Max955.2
Product Hhi Latest63.2
Product Top1 Share Latest Pct2.8%
Product Top3 Share Latest Pct7%
Product Hhi All Avg255.4
Product Hhi All Max615.1
Total Exports Attention Share Pct31%
Total Exports Critical Share Pct3.3%
Attention LevelWatch
Primary Risk DriverHigh trade volatility
Macro Resilience LabelMacro trend resilient

Annual country history

YearExportsImportsTrade balanceExports YoYExports CAGR 3Y
1995$2.2B$2.7B-$500.5MNot reportedNot reported
1996$2.7B$3.2B-$553.1M+22.8%Not reported
1997$2.9B$4.0B-$1.1B+7.7%Not reported
1998$2.6B$3.9B-$1.3B-10.5%+5.8%
1999$2.4B$3.9B-$1.5B-5.7%-3.1%
2000$2.6B$4.4B-$1.8B+6.2%-3.6%
2001$2.6B$4.4B-$1.8B+2%+0.7%
2002$2.8B$4.7B-$1.9B+4.7%+4.3%
2003$3.5B$6.3B-$2.8B+25.7%+10.3%
2004$5.0B$7.8B-$2.8B+44.2%+23.8%
2005$6.1B$9.0B-$2.9B+22.2%+30.4%
2006$7.4B$12.7B-$5.3B+21%+28.7%
2007$9.1B$17.4B-$8.3B+23.2%+22.1%
2008$10.4B$21.1B-$10.7B+14.4%+19.5%
2009$7.7B$13.1B-$5.3B-25.9%+1.5%
2010$9.0B$15.9B-$6.9B+16.1%-0.5%
2011$12.4B$22.2B-$9.8B+37.6%+5.8%
2012$12.3B$24.0B-$11.7B-0.3%+16.8%
2013$13.0B$25.4B-$12.4B+5.6%+13.1%
2014$14.2B$27.3B-$13.1B+8.9%+4.6%
2015$11.7B$19.7B-$8.0B-17.6%-1.8%
2016$11.6B$18.0B-$6.4B-0.4%-3.7%
2017$12.9B$19.7B-$6.8B+10.7%-3.1%
2018$15.4B$21.5B-$6.1B+19.5%+9.7%
2019$14.3B$20.9B-$6.6B-7.1%+7.1%
2020$14.8B$18.8B-$4.0B+3.5%+4.7%
2021$18.2B$24.4B-$6.2B+23.1%+5.8%
2022$22.0B$27.8B-$5.7B+20.9%+15.5%
2023$19.8B$25.5B-$5.7B-10%+10.2%
2024$18.6B$23.9B-$5.3B-6.1%+0.7%

Top export sectors

RankHS2SectorExportsShareExport partnersActive HS6
144Wood and wood articles$3.2B17.2%111103
285Electrical machinery$1.8B9.8%170261
327Mineral fuels$1.5B8%14643
484Machinery$952.4M5.1%156515
587Vehicles$871.2M4.7%13587
622Beverages$787.4M4.2%12424
710Cereals$686.4M3.7%6726
830Pharmaceutical products$649.6M3.5%13440
973Articles of iron or steel$550.9M3%135124
1004Dairy produce and eggs$516.8M2.8%6932

Detailed HS4 export lines

RankHS4Parent HS2ExportsShareActive HS6
14407Wood and wood articles (44)$843.5M4.5%18
24401Wood and wood articles (44)$714.4M3.8%7
38517Electrical machinery (85)$660.2M3.6%7
43004Pharmaceutical products (30)$594.3M3.2%12
51001Cereals (10)$571.5M3.1%4
62710Mineral fuels (27)$505.9M2.7%5
72208Beverages (22)$493.6M2.7%7
84403Wood and wood articles (44)$480.5M2.6%18
94412Wood and wood articles (44)$386.9M2.1%7
102711Mineral fuels (27)$371.6M2%7
118703Vehicles (87)$367.9M2%14
122703Mineral fuels (27)$356.1M1.9%1

Top export destinations

RankDestinationISO3ExportsShareYoYCAGR 3Y
1LithuaniaLTU$3.6B19.4%-6.3%+0.4%
2EstoniaEST$1.7B9.2%-2.2%+4.1%
3GermanyDEU$1.1B6%-10.6%-5.4%
4RussiaRUS$1.1B5.8%-11.2%+9.2%
5SwedenSWE$1.0B5.6%-9%+0.5%
6United KingdomGBR$1.0B5.6%+7.9%-10.7%
7DenmarkDNK$829.8M4.5%-1.2%-0.4%
8PolandPOL$737.1M4%+8.8%+1.4%
9NetherlandsNLD$655.3M3.5%+0.6%-6.3%
10USA, Puerto Rico and US Virgin IslandsUSA$599.1M3.2%+1.3%-0.2%

Destination risk context

RankDestinationAttentionAttention shareBelow peakApplied tariffPrimary reason
1Lithuania (LTU)Watch39.3%21%1.3%Volatile products account for the largest observed corridor exposure
2Nigeria (NGA)Critical attention99.8%64.3%20.6%Current trade remains materially below historical peaks
3Estonia (EST)Watch39.2%27.7%0.2%Volatile products account for the largest observed corridor exposure
4United Kingdom (GBR)High attention61.2%28.1%0%Buyer-market concentration is the largest observed corridor exposure
5Germany (DEU)Watch14.2%27.5%1.8%Volatile products account for the largest observed corridor exposure
6Finland (FIN)High attention50.1%20.4%1.6%Buyer-market concentration is the largest observed corridor exposure
7USA, Puerto Rico and US Virgin Islands (USA)Watch49.7%24.9%2.3%Volatile products account for the largest observed corridor exposure
8Uzbekistan (UZB)High attention42.4%43.4%14.1%Buyer-market concentration is the largest observed corridor exposure
9Sweden (SWE)Watch27.4%26.6%1.6%Volatile products account for the largest observed corridor exposure
10Spain (ESP)Watch23.9%19.7%1.8%Volatile products account for the largest observed corridor exposure

Emerging corridor signals

RankDestinationHS6SignalMarket importsCurrent shareStrength
1Argentina (ARG)730890new$85.0M0.2%100
2United Arab Emirates (ARE)854690new$18.6M0.6%100
3United Arab Emirates (ARE)390799new$61.6M0.2%100
4Croatia (HRV)851531new$6.4M2%100
5Bangladesh (BGD)853670new$1.7M9.1%100
6Bosnia and Herzegovina (BIH)850212new$2.2M5%100
7Chile (CHL)846591new$9.1M2.3%100
8Bosnia and Herzegovina (BIH)200520new$16.0M1.5%100
9Bahrain (BHR)841111new$3.2M42.4%100
10Cuba (CUB)271012new$83.4M0.4%100

Market opportunity signals

RankMarketHS6Buyer importsAddressable 3-year valueCurrent shareSignal
1USA, Puerto Rico and US Virgin Islands (USA)270900$165.0B$115.5B0%Declining (+1.1%)
2China (CHN)270900$291.6B$98.7B0%Declining (-6.7%)
3China (CHN)854231$158.0B$93.1B0%Growing (+10.5%)
4India (IND)270900$130.1B$73.0B0%Declining (-0.5%)
5China (CHN)854232$80.6B$65.7B0%Growing (+20.6%)
6China (CHN)854239$81.8B$61.4B0%Growing (+4%)
7USA, Puerto Rico and US Virgin Islands (USA)851712$53.9B$53.8B0%Growing (-8.8%)
8USA, Puerto Rico and US Virgin Islands (USA)847150$53.9B$45.6B0%Growing (+60.2%)

How to read this page

Separate reported scale from calculated context.

Reported exports, imports, trade balance, sector rows, destination rows, and annual history describe merchandise trade observations for the stated country and year.

CAGR, shares, concentration measures, tariff context, exposure shares, and momentum are calculated indicators built from the available observations. They help organize research but are not additional reported trade or forecasts.

Coverage runs from 1995 through 2024 for this profile. Missing values are shown as Not reported. Read the full methodology ↗

Reported observations

OECD BIMTS merchandise trade values are the primary series for this view.

Calculated indicators

Growth, share, HHI, tariff, and exposure fields are derived from available reported values.

Coverage limits

Unavailable values remain unavailable. No company sales, shipment records, or forecasts are implied.

Questions about this profile

Latvia export capability, in context

Short answers for readers comparing country export scale, partner breadth, and calculated trade indicators.

What does the Latvia export profile measure?

It combines reported exports, imports, history, destinations, HS2 sectors, partner context, and calculated indicators for Latvia.

What is the latest reported export value for Latvia?

Latvia recorded $18.6B in reported exports in 2024.

Which markets receive the most exports from Latvia?

Lithuania leads by reported export value at $3.6B in 2024. Five destination lanes are highlighted.

Which sectors lead Latvia's exports?

Wood and wood articles leads by reported value at $3.2B. Five HS2 chapters are highlighted.

How many years of Latvia trade history are available?

This sample contains 30 observed annual rows covering 1995 through 2024. Missing observations are not estimated.

Are the growth and exposure values forecasts?

No. They are calculated or classified from reported observations, not forecasts or market-access guarantees.

Continue your research

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Compare countries, products, sectors, and routes using the available trade evidence and definitions.

Data source

OECD trade statistics with CEPII context

OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-08-28). OECD BIMTS is the primary trade series for this view. Supporting bilateral trade context uses CEPII BACI bilateral trade flows (202601) under Etalab 2.0 Open Licence. Yugalinks presents derived views of reported observations and calculated indicators. Data terms: OECD Terms & Conditions.