Latvia-Lithuania Bilateral Trade Analysis 2023
Complete trade statistics: $8.75B total volume •Latvia deficit: $1.25B
Latvia → Lithuania
$3.75B
Exports (2023)
Lithuania → Latvia
$5.00B
Imports (2023)
Trade Balance
$1.25B
Deficit for Latvia
Total Trade
$8.75B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Latvia and Lithuania. Green line shows exports from Latvia, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Latvia-Lithuania commercial relationship and competitive positioning in global markets.
Latvia → Lithuania Exports
Export Market Intelligence
🎯 Strategic Export Focus
Latvia's export portfolio to Lithuania demonstrates strong diversification across multiple sectors, with electrical energy representing a key competitive advantage in this bilateral market.
Lithuania → Latvia Imports
Import Dependency Profile
📦 Import Strategy Analysis
Latvia's import pattern from Lithuania reveals strategic sourcingin petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Latvia demonstrates competitive strength in exportingelectrical energy to Lithuania, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $8.75B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Latvia-Lithuania Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $8.75 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Latvia maintains a deficit of $1.25 billion
- Export Focus: Latvia's primary exports include electrical energy, telephones for cellular networks or for other wireless networks, dairy produce: milk and cream, not concentrated, not containing added sugar or other sweetening matter, of a fat content, by weight, exceeding 1% but not exceeding 6%
- Import Dependencies: Key imports from Lithuania include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
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 $8.75B 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 Latvia leveraging its comparative advantages in electrical energy.
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
Latvia's specialization in electrical energycomplements Lithuania's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $8.75B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $8.75B 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 $8.75 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in electrical energy and petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Latvia's trade deficit of $1.25 billion impacts 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 Latvia and Lithuania represents a total trade volume of $8.75 billion in 2023. This partnership demonstrates an unfavorable trade balance for Latvia, with imports exceeding exportsby $1.25 billion.
Export Strengths
Latvia's exports to Lithuania total $3.75 billion, with competitive advantages in electrical energy, representing $355.66M or9.5% of bilateral exports.
Import Dependencies
Imports from Lithuania amount to $5.00 billion, highlighting economic interdependence in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, with Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils comprising16.6% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Latvia's strategic sourcing from Lithuania. 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 Latvia and Lithuania in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023