USA-Latvia Bilateral Trade Analysis 2023
Complete trade statistics: $624.24M total volume •USA deficit: $624.24M
USA → Latvia
$0
Exports (2023)
Latvia → USA
$624.24M
Imports (2023)
Trade Balance
$624.24M
Deficit for USA
Total Trade
$624.24M
Combined Volume
Trade Flow Visualization
Direct trade relationship between USA and Latvia. Green line shows exports from USA, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the USA-Latvia commercial relationship and competitive positioning in global markets.
USA → Latvia Exports
Export Market Intelligence
🎯 Strategic Export Focus
USA's export portfolio to Latvia demonstrates strategic specialization, with aircraft and spacecraft: parts of aeroplanes or helicopters n.e.c. in heading no. 8803 representing a key competitive advantage in this bilateral market.
Latvia → USA Imports
Import Dependency Profile
📦 Import Strategy Analysis
USA's import pattern from Latvia reveals significant dependencyin oriented strand board (osb) of wood, whether or not agglomerated with resins or other organic binding substances, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
USA demonstrates competitive strength in exportingaircraft and spacecraft: parts of aeroplanes or helicopters n.e.c. in heading no. 8803 to Latvia, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $624.24M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: USA-Latvia Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $624.24 millionrepresenting a significant bilateral economic relationship
- Trade Balance: USA maintains a deficit of $624.24 million
- Export Focus: USA's primary exports include aircraft and spacecraft: parts of aeroplanes or helicopters n.e.c. in heading no. 8803, 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, helicopters: of an unladen weight exceeding 2000kg
- Import Dependencies: Key imports from Latvia include oriented strand board (osb) of wood, whether or not agglomerated with resins or other organic binding substances, vodka, communication apparatus (excluding telephone sets or base stations): machines for the reception, conversion and transmission or regeneration of voice, images or other data, including switching and routing apparatus
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 $624.24M 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 USA leveraging its comparative advantages in aircraft and spacecraft: parts of aeroplanes or helicopters n.e.c. in heading no. 8803.
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
USA's specialization in aircraft and spacecraft: parts of aeroplanes or helicopters n.e.c. in heading no. 8803complements Latvia's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in oriented strand board (osb) of wood, whether or not agglomerated with resins or other organic binding substances.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $624.24M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $624.24M 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 $624.24 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in aircraft and spacecraft: parts of aeroplanes or helicopters n.e.c. in heading no. 8803 and oriented strand board (osb) of wood, whether or not agglomerated with resins or other organic binding substances demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
USA's trade deficit of $624.24 million 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 USA and Latvia represents a total trade volume of $624.24 million in 2023. This partnership demonstrates an unfavorable trade balance for USA, with imports exceeding exportsby $624.24 million.
Export Strengths
USA's exports to Latvia total $0.00, with competitive advantages in aircraft and spacecraft: parts of aeroplanes or helicopters n.e.c. in heading no. 8803, representing $42.42M orInfinity% of bilateral exports.
Import Dependencies
Imports from Latvia amount to $624.24 million, highlighting economic interdependence in oriented strand board (osb) of wood, whether or not agglomerated with resins or other organic binding substances, with Oriented strand board (OSB) of wood, whether or not agglomerated with resins or other organic binding substances comprising11.3% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates USA's strategic sourcing from Latvia. 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 USA and Latvia in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023