Latvia (LVA) and Denmark (DNK) Trade | The Observatory of Economic Complexity

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Latvia-Denmark Trade: In 2022, Latvia exported $972M to Denmark. The main products that Latvia exported to Denmark were Fuel Wood ($125M), Rapeseed Oil ($59.7M), and Other Furniture ($57M). Over the past 5 years the exports of Latvia to Denmark have increased at an annualized rate of 10.9%, from $579M in 2017 to $972M in 2022.

In 2020, Latvia exported services to Denmark worth $129M, with Transportation ($54.8M), Other business services ($42.3M), and Computer and information services ($20.6M) being the largest in terms of value.

Denmark-Latvia In N/A, Denmark did not export any products to Latvia.

In 2020, Denmark exported services to Latvia worth $156M, with Transportation ($93.7M), Travel ($27.8M), and Other business services ($13.1M) being the largest in terms of value.

Comparison In 2022, Latvia ranked 75 in total exports ($22.9B), and does not have data regarding Economic Complexity Index. That same year, Denmark ranked 27 in the Economic Complexity Index (ECI 1.01), and 37 in total exports ($122B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Latvia exported $972M to Denmark. The main products exported from Latvia to Denmark were Fuel Wood ($125M), Rapeseed Oil ($59.7M), and Other Furniture ($57M). During the last 5 years the exports of Latvia to Denmark have increased at an annualized rate of 10.9%, from $579M in 2017 to $972M in 2022.

Denmark does not register exports to Latvia. The main products exported from Denmark to Latvia were Packaged Medicaments ($47.1M), Hot-Rolled Iron ($27.4M), and Excavation Machinery ($23.4M).

Exports from Latvia () to Denmark () (2022)

Exports from Denmark () to Latvia () (2022)

Latest Data

Trade between Latvia () and Denmark ()

Latvia Exports

Date

Denmark Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Latvia
Top DestinationLithuania$4.09B

Denmark
Top DestinationGermany$18.9B

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

In 2022, countries that imported more from Latvia than Denmark included Lithuania ($4.09B), Estonia ($2.26B), and Russia ($1.26B).

In 2022, countries that imported more from Denmark than Latvia included Germany ($18.9B), United States ($13.1B), and Sweden ($11.6B).

Difference in imports from Denmark () and Latvia () (2022)

Comparative Advantage Latvia - Denmark

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Latvia had a large net trade with Denmark in the exports of Wood Products ($219M), Machines ($148M), and Metals ($140M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Latvia Denmark+$4.43MPackaged Medicaments

Top Product Potential Denmark Latvia+$12.4MPackaged Medicaments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Dnk Year

Lva Year

In 2020, Latvia exported services to Denmark worth $129M, with Transportation ($54.8M), Other business services ($42.3M), and Computer and information services ($20.6M) being the largest in terms of value.

In 2020, Denmark exported services to Latvia worth $156M, with Transportation ($93.7M), Travel ($27.8M), and Other business services ($13.1M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Latvia () to Denmark () (2020)

Services Exports from Denmark () to Latvia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Latvia and Denmark. This means that a dot/product with the flag of Latvia indicates it has a comparative advantage over Denmark. Similarly, a dot/product with the flag of Denmark indicates it has a comparative advantage over Latvia.

About

Historical Data

Bilateral Trade by Products

Exports from Latvia () to Denmark () (2022)

Exports from Denmark () to Latvia () (2022)

Latest Data

Trade between Latvia () and Denmark ()

Latvia Exports

Denmark Exports

Market Competitiveness

Difference in imports from Denmark () and Latvia () (2022)

Comparative Advantage Latvia - Denmark

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Latvia () to Denmark () (2020)

Services Exports from Denmark () to Latvia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Latvia () and Denmark () (2022)

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