Canada-Latvia Bilateral Trade Analysis 2023
Complete trade statistics: $321.42M total volume •Canada surplus: $321.42M
Canada → Latvia
$321.42M
Exports (2023)
Latvia → Canada
$0
Imports (2023)
Trade Balance
$321.42M
Surplus for Canada
Total Trade
$321.42M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Canada and Latvia. Green line shows exports from Canada, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Canada-Latvia commercial relationship and competitive positioning in global markets.
Canada → Latvia Exports
Export Market Intelligence
🎯 Strategic Export Focus
Canada's export portfolio to Latvia demonstrates strategic specialization, with aeroplanes and other aircraft: of an unladen weight exceeding 15,000kg representing a key competitive advantage in this bilateral market.
Latvia → Canada Imports
Import Dependency Profile
📦 Import Strategy Analysis
Canada's import pattern from Latvia reveals significant dependencyin oil seeds: low erucic acid rape or colza seeds, whether or not broken, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Canada demonstrates competitive strength in exportingaeroplanes and other aircraft: of an unladen weight exceeding 15,000kg to Latvia, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $321.42M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Canada-Latvia Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $321.42 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Canada maintains a surplus of $321.42 million
- Export Focus: Canada's primary exports include aeroplanes and other aircraft: of an unladen weight exceeding 15,000kg, turbo-jets: of a thrust exceeding 25kn, copper mattes: cement copper (precipitated copper)
- Import Dependencies: Key imports from Latvia include oil seeds: low erucic acid rape or colza seeds, whether or not broken, vodka, cranes: portal or pedestal jib cranes
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $321.42M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Canada leveraging its comparative advantages in aeroplanes and other aircraft: of an unladen weight exceeding 15,000kg.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Canada's specialization in aeroplanes and other aircraft: of an unladen weight exceeding 15,000kgcomplements Latvia's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in oil seeds: low erucic acid rape or colza seeds, whether or not broken.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $321.42M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $321.42M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $321.42 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in aeroplanes and other aircraft: of an unladen weight exceeding 15,000kg and oil seeds: low erucic acid rape or colza seeds, whether or not broken demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Canada's trade surplus of $321.42 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Canada and Latvia represents a total trade volume of $321.42 million in 2023. This partnership demonstrates a favorable trade balance for Canada, with exports exceeding importsby $321.42 million.
Export Strengths
Canada's exports to Latvia total $321.42 million, with competitive advantages in aeroplanes and other aircraft: of an unladen weight exceeding 15,000kg, representing $270.95M or84.3% of bilateral exports.
Import Dependencies
Imports from Latvia amount to $0.00, highlighting economic interdependence in oil seeds: low erucic acid rape or colza seeds, whether or not broken, with Oil seeds: low erucic acid rape or colza seeds, whether or not broken comprisingInfinity% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Canada's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Canada and Latvia in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023