Jamaica-Latvia Bilateral Trade Analysis 2023
Complete trade statistics: $131.08M total volume •Jamaica surplus: $131.08M
Jamaica → Latvia
$131.08M
Exports (2023)
Latvia → Jamaica
$0
Imports (2023)
Trade Balance
$131.08M
Surplus for Jamaica
Total Trade
$131.08M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Jamaica and Latvia. Green line shows exports from Jamaica, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Jamaica-Latvia commercial relationship and competitive positioning in global markets.
Jamaica → Latvia Exports
Export Market Intelligence
🎯 Strategic Export Focus
Jamaica's export portfolio to Latvia demonstrates strategic specialization, with aluminium oxide: other than artificial corundum representing a key competitive advantage in this bilateral market.
Latvia → Jamaica Imports
Import Dependency Profile
📦 Import Strategy Analysis
Jamaica's import pattern from Latvia reveals significant dependencyin vaccines: for human medicine, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Jamaica demonstrates competitive strength in exportingaluminium oxide: other than artificial corundum to Latvia, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $131.08M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Jamaica-Latvia Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $131.08 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Jamaica maintains a surplus of $131.08 million
- Export Focus: Jamaica's primary exports include aluminium oxide: other than artificial corundum, rum and other spirits obtained by distilling fermented sugar-cane products, coffee: roasted, decaffeinated
- Import Dependencies: Key imports from Latvia include vaccines: for human medicine, vodka, peat: (including peat litter), whether or not agglomerated
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 $131.08M 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 Jamaica leveraging its comparative advantages in aluminium oxide: other than artificial corundum.
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
Jamaica's specialization in aluminium oxide: other than artificial corundumcomplements Latvia's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in vaccines: for human medicine.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $131.08M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $131.08M 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 $131.08 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in aluminium oxide: other than artificial corundum and vaccines: for human medicine demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Jamaica's trade surplus of $131.08 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 Jamaica and Latvia represents a total trade volume of $131.08 million in 2023. This partnership demonstrates a favorable trade balance for Jamaica, with exports exceeding importsby $131.08 million.
Export Strengths
Jamaica's exports to Latvia total $131.08 million, with competitive advantages in aluminium oxide: other than artificial corundum, representing $131.07M or100.0% of bilateral exports.
Import Dependencies
Imports from Latvia amount to $0.00, highlighting economic interdependence in vaccines: for human medicine, with Vaccines: for human medicine comprisingInfinity% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Jamaica'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 Jamaica and Latvia in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023