Latvia is the 78th largest export economy in the world and the 35th most complex economy according to the Economic Complexity Index (ECI). In 2017, Latvia exported $12.4B and imported $16.4B, resulting in a negative trade balance of $4.03B. In 2017 the GDP of Latvia was $30.3B and its GDP per capita was $28.2k.
The top exports of Latvia are Sawn Wood ($696M), Broadcasting Equipment ($532M), Hard Liquor ($501M), Wheat ($423M) and Packaged Medicaments ($418M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Refined Petroleum ($1.03B), Cars ($699M), Broadcasting Equipment ($659M), Packaged Medicaments ($549M) and Petroleum Gas ($456M).
The top export destinations of Latvia are Lithuania ($2.03B), Russia ($999M), Germany ($903M), Estonia ($855M) and the United Kingdom ($772M). The top import origins are Lithuania ($2.77B), Germany ($1.68B), Russia ($1.61B), Poland ($1.39B) and Estonia ($1.16B).