Products Imported from China to Latvia

In the calendar year of 2023, China exported goods worth US$1.1 billion to Latvia. Among the main exports from China to Latvia were Broadcasting Equipment (US$130 million), Other Plastic Products (US$63.7 million), Rubber Tires (US$46.6 million), Other Electrical Machinery (US$45.17 million) and Computers (US$33.20 million). Over the span of 28 years, China’s exports to Latvia have grown steadily at an annualized rate of 25.2%, rising from US$2.53 million in 1995 to US$1.1 billion in 2023.

List of All Products That Were Imported from China to Latvia

The table below presents a comprehensive list of all commodities that were exported from China to Latvia in 2023, categorized by product types, and ranked by their trade values in US dollars.

Tips to use this table

1. Identifying High-Demand Products: Analyze the top-ranked products to identify which items have the highest trade values. These products are likely to be in high demand in the Latvia market, presenting lucrative opportunities for importers and resellers.
2. Niche Market Exploration: Explore products with significant trade values that may not be commonly known. These niche products could represent untapped market segments with less competition, allowing resellers and importers to carve out a unique position in the market.

Last Updated: April, 2024

Note #1: The HS4 code, or Harmonized System 4-digit code, is part of the Harmonized Commodity Description and Coding System (HS). It’s an internationally standardized system for classifying goods in international trade.

Note #2: This table is regularly updated on an annual basis. Therefore, we encourage you to revisit frequently to access the latest information regarding trade between China and Latvia.

Trade Agreements between China and Latvia

China and Latvia have fostered a relationship that includes trade facilitation and investment under broader multilateral and bilateral frameworks, rather than specific trade agreements. Here are the key aspects of their economic and trade relations:

1. Bilateral Trade: The trade relationship between China and Latvia primarily involves the exchange of goods such as machinery, electronics, textiles from China, and food products, wood, and other raw materials from Latvia. This trade is not governed by a specific bilateral trade agreement but benefits from the general trade policies and agreements that Latvia adheres to as a member of the European Union.
2. Bilateral Investment Treaties (BIT): A significant component of their economic relations is the Bilateral Investment Treaty (BIT) between China and Latvia, which was signed to promote and protect investments between the two countries. This treaty aims to create favorable conditions for investors in both countries and ensures that investments are treated in a fair and equitable manner.
3. Economic and Technical Cooperation: Latvia and China have engaged in agreements that enhance economic and technical cooperation, particularly in sectors like transportation and logistics. Given Latvia’s strategic location as a Baltic hub, it serves as a significant transit corridor for Chinese goods moving into Northern and Eastern Europe.
4. 16+1 Cooperation: Latvia participates in the “16+1” cooperation format, which is a Chinese-led initiative aimed at intensifying and expanding China’s cooperation with 11 EU countries and 5 Balkan countries in the fields of investments, transport, finance, science, education, and culture. This initiative has been pivotal in increasing the level of interaction between China and Latvia, particularly in infrastructure and logistics.
5. Cultural and Educational Exchanges: Cultural and educational exchanges, including scholarship programs for Latvian students in China, are part of their bilateral ties. These programs are designed to enhance mutual understanding and foster closer relations between the two nations.

While there are no specific trade agreements exclusively between China and Latvia, their economic relations are bolstered by investment treaties, participation in multilateral forums, and cooperative agreements that facilitate economic engagement and cultural exchange. This relationship is indicative of China’s broader strategy to integrate with European markets through economic partnerships and infrastructural investments.