Latvia: Terms of trade

* indicates monthly or quarterly data series
 Latvia

Terms of trade, base year = 2000

 Latest value 104.67
 Year 2021
 Measure percent
 Data availability 2000 - 2021
 Average 99.69
 Min - Max 94.58 - 104.67
 Source The United Nations
For that indicator, we provide data for Latvia from 2000 to 2021. The average value for Latvia during that period was 99.69 percent with a minimum of 94.58 percent in 2000 and a maximum of 104.67 percent in 2021. The latest value from 2021 is 104.67 percent. For comparison, the world average in 2021 based on 189 countries is 109.62 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Latvia - Terms of trade - Recent values chart

Historical chart
Latvia - Terms of trade - historical chart - 2000-2021




The terms of trade for Latvia are calculated as the value of its exports as percent of the value of its imports. An increase in the terms of trade means that the value of exports is increasing relative to the value of imports. The country can afford to buy more imports with the revenue from its exports. For example, an increase in the price of oil increases (improves) the terms of trade for the oil-exporting countries and lowers it for the other countries.
Definition: Net barter terms of trade index is calculated as the percentage ratio of the export unit value indexes to the import unit value indexes, measured relative to the base year 2015.

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 Related indicators Latest value Reference Measure
 Terms of trade 104.67 2021 percent
 Trade openness 148.50 2022 percent
 Financial openness 2.299 2021 index points
 Exports, percent of GDP 71.99 2022 percent
 Exports, billion dollars 27.95 2023 billion U.S. dollars
 Growth of exports 10.31 2022 percent
 Imports, percent of GDP 76.52 2022 percent
 Imports, billion dollars 29.63 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 2.84 2022 percent
 Foreign Direct Investment, billion dollars 1.16 2022 billion U.S. dollars
 Portfolio investment inflows, equities -11.96 2023 million dollars (current)
 Current account, percent of GDP -4.00 2023 percent
 Current account, in dollars -1.75 2023 billion U.S. dollars
 Trade balance, percent of GDP -4.53 2022 percent
 Trade balance, in dollars -1.68 2023 billion U.S. dollars
 Reserves 4.46 2022 billion U.S. dollars
 Remittances, percent of GDP 3.26 2022 percent
 Remittances 1,333.46 2022 million U.S. dollars
 Net errors and omissions 970.24 2023 million USD
 Foreign exchange reserves 4.38 9/2023 billion
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