# Latvia to Spain HS 870380 new corridor signal

This page reviews a reported new-corridor signal for vehicles: with only electric motor for propulsion. It separates reported trade observations from calculated indicators and access context.

## Signal summary

- Signal type: New corridor
- Signal strength: 83/100
- Reported period: 2024
- Buyer market imports: $3.2B
- Buyer market growth: -32.2%
- Current exporter share: 0.0%
- Share gap: 41.9%

## What the signal means

The signal points to a newly observed exporter-to-buyer relationship in the available reporting. It is a prompt for market research, not a forecast, order, or guarantee of commercial access. Compare demand, suppliers, access, and route history together before acting.

## Market opportunity

- Latest buyer imports: $3.2B
- Three-year buyer-import projection: $6.3B
- Supplier countries observed: 45
- Average buyer imports: $419.4M
- Historical buyer-import peak: $4.8B
- Full-history buyer-import CAGR: +43.0%
- Latest buyer-import annual change: -32.2%

## Competition landscape

- Top supplier: CHN
- Top supplier share: 41.9%
- Market concentration: 2,419
- Exporter share: 0.0%
- Share gap to peer benchmark: 41.9%

## Access profile

- Applied tariff: Not reported
- MFN tariff: Not reported
- Preferential tariff: Not reported
- Approximate distance: 2,716 km
- Trade agreement: Reported yes
- Business entry time: 12.5 days
- Shared spoken language score: 0.1

## Buyer economy

- GDP per person: $30.1K
- GDP per-person growth: +1.9%
- Population: 47,327k
- GDP: $1.4T
- GDP five-year CAGR: Not reported
- Investment rate: 24.3%
- Savings rate: 22.0%

## Product-level history

| Year | Product exports | Year-on-year |
| ---: | ---: | ---: |
| 2024 | $14.5K | +0.0% |

## Broader route context

Broader Latvia to Spain route exports provide route context only; they are not presented as HS 870380 product-level trade.

| Year | Route exports | Year-on-year |
| ---: | ---: | ---: |
| 1995 | $3.4M | +0.0% |
| 1996 | $13.0M | +284.9% |
| 1997 | $9.4M | -27.2% |
| 1998 | $14.3M | +51.6% |
| 1999 | $16.9M | +17.9% |
| 2000 | $11.2M | -33.9% |
| 2001 | $21.8M | +95.3% |
| 2002 | $18.8M | -13.8% |
| 2003 | $42.3M | +125.2% |
| 2004 | $58.7M | +38.6% |
| 2005 | $83.3M | +41.9% |
| 2006 | $127.8M | +53.4% |
| 2007 | $236.3M | +84.9% |
| 2008 | $364.3M | +54.2% |
| 2009 | $117.9M | -67.6% |
| 2010 | $107.1M | -9.2% |
| 2011 | $150.5M | +40.5% |
| 2012 | $62.9M | -58.2% |
| 2013 | $70.0M | +11.4% |
| 2014 | $476.6M | +580.4% |
| 2015 | $120.1M | -74.8% |
| 2016 | $139.0M | +15.7% |
| 2017 | $151.9M | +9.3% |
| 2018 | $199.7M | +31.4% |
| 2019 | $181.7M | -9.0% |
| 2020 | $172.5M | -5.1% |
| 2021 | $220.4M | +27.7% |
| 2022 | $370.4M | +68.1% |
| 2023 | $317.0M | -14.4% |
| 2024 | $236.0M | -25.5% |

## Related new-corridor signals

| Exporter to buyer | Product | Signal type | Buyer imports | Page |
| --- | --- | --- | ---: | --- |
| Latvia to Germany | HS 300214 | New corridor | $6.9B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/lva-deu-300214) |
| Latvia to Belgium | HS 870340 | New corridor | $6.9B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/lva-bel-870340) |
| Latvia to Bangladesh | HS 271019 | New corridor | $5.4B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/lva-bgd-271019) |
| Latvia to Japan | HS 880240 | New corridor | $4.3B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/lva-jpn-880240) |
| Latvia to Switzerland | HS 870340 | New corridor | $1.9B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/lva-che-870340) |
| Latvia to Germany | HS 870350 | New corridor | $1.7B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/lva-deu-870350) |
| Latvia to Italy | HS 870360 | New corridor | $1.7B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/lva-ita-870360) |
| Latvia to TUR | HS 870321 | New corridor | $1.7B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/lva-tur-870321) |

## Frequently asked questions

### What does a new corridor signal mean?

It identifies an exporter, buyer market, and HS6 combination included in the available new-corridor signal set for 2024. It is a research prompt, not a guarantee of demand or sales.

### Is the market opportunity reported trade?

Reported buyer imports and exporter share are observations. Any projection or share-gap measure is calculated from the available data and should not be treated as an order or forecast.

### What should exporters check next?

Validate product fit, buyers, tariffs, standards, logistics, pricing, competition, and the depth of product-level history before pursuing the route.

## Method

The signal is a calculated research indicator based on available reported trade observations. It is not a confirmed order, sales forecast, or guarantee of market entry. Validate buyers, tariffs, standards, logistics, pricing, and competition before acting.

## Data sources

- Primary trade series: OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-09-02). [OECD Data Explorer](https://data-explorer.oecd.org/) - [OECD Terms & Conditions](https://www.oecd.org/termsandconditions/)
- CEPII BACI bilateral trade flows (202601): [dataset page](https://www.cepii.fr/CEPII/en/bdd_modele/bdd_modele_item.asp?id=37) - [BACI documentation](https://www.cepii.fr/DATA_DOWNLOAD/baci/doc/baci_webpage.html) - [Etalab 2.0 Open Licence](https://www.etalab.gouv.fr/wp-content/uploads/2018/11/open-licence.pdf)

This page presents derived Yugalinks views of reported observations and calculated indicators.