Trade & investment · Europe & Central Asia · High income
Latvia: trade and investment
Exports is 62.6% (2025), 36th of 184 in the world and 15th of 52 in Europe & Central Asia. Imports is 67.2% (2025), 42nd of 184 in the world and 15th of 52 in Europe & Central Asia. Trade openness is 129.7% (2025), 34th of 184 in the world and 14th of 52 in Europe & Central Asia.
13 indicators
Trade & investment: Latvia in detail
Latest reported value, world rank and rank within Europe & Central Asia; values around 2000, 2010, 2020; group and world columns are World Bank aggregates.
| Indicator | Latest | World rank | In region | ~2000 | ~2010 | ~2020 | 10-year change | Region | Income group | World | Since 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ExportsExports of goods and services, % of GDP | 62.6%2025 | 36/184 | 15/52 | 37.7% | 54.4% | 62.7% | ±0.0 ppsince 2015 | 43.7% | 31.7% | 29.5% | |
| ImportsImports of goods and services, % of GDP | 67.2%2025 | 42/184 | 15/52 | 45.9% | 56.5% | 61.2% | +3.4 ppsince 2015 | 41.0% | 30.8% | 28.5% | |
| Trade opennessTrade, % of GDP | 129.7%2025 | 34/184 | 14/52 | 83.6% | 110.9% | 123.9% | +3.3 ppsince 2015 | 81.8% | 60.5% | 68.5% | |
| Current accountCurrent account balance, % of GDP | -5.3%2025 | 135/185 | 40/50 | -3.7% | 1.8% | 2.4% | −5.1 ppsince 2015 | — | — | — | |
| Merchandise exportsMerchandise exports, current US$ | $22.1bn2025 | 79/206 | 34/51 | $1.9bn | $9.5bn | $16.3bn | +80%since 2015 | $10.0tn | $17.5tn | $26.4tn | |
| High-tech exportsHigh-technology exports, % of manufactured exports | 17.5%2024 | 43/170 | 20/47 | · | 8.5% | 20.0% | −0.2 ppsince 2014 | 21.4% | 25.8% | 24.7% | |
| Fuel exportsFuel exports, % of merchandise exports | 8.5%2025 | 57/172 | 14/48 | 2.5% | 5.3% | 3.6% | +1.1 ppsince 2015 | 6.3% | 10.4% | 9.5% | |
| Food exportsFood exports, % of merchandise exports | 22.1%2025 | 67/172 | 7/48 | 5.7% | 16.8% | 21.8% | +4.3 ppsince 2015 | 10.6% | 8.8% | 9.0% | |
| Average tariffApplied tariff rate, weighted mean, all products | 1.3%2022 | 156/184 | 32/46 | 2.6%2001 | 2.1% | 1.5% | −0.1 ppsince 2012 | — | — | — | |
| FDI inflowsForeign direct investment, net inflows, % of GDP | 0.8%2025 | 149/197 | 33/51 | 4.2% | 2.0% | 2.8% | −2.3 ppsince 2015 | 1.0% | 1.5% | 1.4% | |
| RemittancesPersonal remittances received, % of GDP | 3.0%2025 | 79/178 | 14/50 | 3.2% | 5.4% | 3.3% | −2.1 ppsince 2015 | 0.8% | 0.3% | 0.8% | |
| Tourist arrivalsInternational tourist arrivals | 3.2m2020 | 52/196 | 28/51 | 1.9m | 5.0m | 3.2m | −36%since 2010 | 1.2bn | 1.5bn | 2.4bn | |
| Tourism receiptsInternational tourism receipts, current US$ | $880m2007 | — | — | $172m | · | · | +274%since 1997 | $590bn | $1.2tn | $1.9tn |
Source: World Bank, World Development Indicators (CC BY 4.0)“·” — no value reported within two years of that date. World rank counts countries with a recent value.
neighbours
Latvia and its neighbours
Countries sharing a land border with Latvia. Latest values since 2005; the highest in each row is marked.
| Indicator | Latvia | Russia | Sweden | Belarus | Lithuania | Estonia |
|---|---|---|---|---|---|---|
| Exports | 62.6%2025 | 18.2%2025 | 53.2%2025 | 55.1%2025 | 73.0%2025 | 78.4%2025 |
| Imports | 67.2%2025 | 15.5%2025 | 51.1%2025 | 57.0%2025 | 69.1%2025 | 77.4%2025 |
| Trade openness | 129.7%2025 | 33.7%2025 | 104.3%2025 | 112.1%2025 | 142.1%2025 | 155.8%2025 |
| Current account | -5.3%2025 | 1.5%2025 | 6.8%2025 | -1.2%2025 | 0.9%2025 | 0.4%2025 |
| Merchandise exports | $22.1bn2025 | $419bn2025 | $208bn2025 | $41.4bn2025 | $41.6bn2025 | $21.0bn2025 |
| High-tech exports | 17.5%2024 | 9.7%2021 | 17.7%2024 | 6.0%2021 | 17.3%2024 | 18.4%2024 |
| Fuel exports | 8.5%2025 | 43.1%2021 | 6.0%2025 | 12.6%2020 | 13.6%2025 | 7.6%2025 |
| Food exports | 22.1%2025 | 6.6%2021 | 7.2%2025 | 16.6%2021 | 19.7%2025 | 12.5%2025 |
| Average tariff | 1.3%2022 | 4.2%2021 | 1.3%2022 | 2.3%2021 | 1.3%2022 | 1.3%2022 |