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Latvia - Trade Openness 2023

Name: Latvia Trade Openness 2023
Creator: World Bank
License: https://creativecommons.org/licenses/by/4.0/

Trade as % of GDP · World Bank

135.64% −24.25% from 2022 Global rank: 143rd

Latvia's trade openness was 135.64% in 2023, decreased +24.25% from 159.89% in 2022. This was the 143rd highest globally.

Global Ranking - 2023▾

Trade Openness by Country - 2023
Rank	Country	Value	YoY
1st	Sudan	2.47%	-8.3%
2nd	United States	25.29%	-7.4%
3rd	Argentina	26.68%	-15.5%
4th	Pakistan	28.47%	-13.8%
5th	Haiti	30.79%	-15.7%
6th	Bangladesh	30.98%	-8.3%
7th	Uganda	33.34%	-3.4%
8th	Brazil	33.67%	-13.3%
9th	Turkmenistan	34.10%	-8.7%
10th	China	36.11%	-3.6%
11th	Cameroon	37.89%	-8.2%
12th	Tanzania	38.21%	9.2%
13th	Gambia, The	39.96%	-10.6%
14th	Zimbabwe	40.29%	-26.8%
15th	Colombia	40.39%	-16.4%
16th	Egypt, Arab Republic of	40.45%	9.4%
17th	Guinea-Bissau	40.47%	-11.5%
18th	Russian Federation	40.83%	-4.6%
19th	Kenya	41.11%	2.1%
20th	Indonesia	41.34%	-9.1%
21st	Nepal	41.57%	-15.1%
22nd	Malawi	42.44%	-2.7%
23rd	Central African Republic	43.48%	-3.9%
24th	Sri Lanka	43.54%	-6.7%
25th	Algeria	43.74%	-14.6%
26th	Benin	44.66%	0.6%
27th	India	44.99%	-10.1%
28th	Japan	45.15%	-3.6%
29th	Comoros	45.68%	-9.3%
30th	Niger	46.48%	-12.0%
31st	Chad	46.90%	-2.3%
32nd	Guatemala	48.30%	-11.3%
33rd	Côte d'Ivoire	48.82%	-7.7%
34th	Australia	49.04%	7.3%
35th	Iran, Islamic Republic of	49.39%	1.0%
36th	Bolivia, Plurinational State of	49.61%	-13.8%
37th	Dominican Republic	49.84%	-8.3%
38th	New Zealand	50.41%	-5.7%
39th	Peru	50.79%	-11.4%
40th	New Caledonia	51.63%	2.3%
41st	Uruguay	52.91%	-13.3%
42nd	Angola	53.03%	-4.0%
43rd	Saudi Arabia	54.17%	-4.7%
44th	Sierra Leone	55.29%	22.7%
45th	Ecuador	57.00%	-7.9%
46th	Mali	57.53%	-6.5%
47th	Israel	57.99%	-4.4%
48th	Chile	60.72%	-19.3%
49th	Madagascar	61.13%	-13.3%
50th	Equatorial Guinea	61.44%	-24.9%
51st	Kazakhstan	62.33%	-8.8%
52nd	Burkina Faso	63.13%	-6.5%
53rd	Ghana	64.39%	-8.2%
54th	Rwanda	64.91%	6.2%
55th	United Kingdom	64.99%	-6.1%
56th	Italy	65.11%	-9.6%
57th	Tajikistan	65.63%	0.3%
58th	South Africa	65.68%	1.1%
59th	Türkiye	65.68%	-17.8%
60th	Uzbekistan	66.11%	5.2%
61st	Canada	66.63%	-1.0%
62nd	Philippines	67.42%	-6.9%
63rd	Afghanistan	67.58%	-7.3%
64th	Botswana	68.80%	-19.6%
65th	Iraq	69.46%	1.0%
66th	France	70.63%	-7.0%
67th	Senegal	71.39%	-10.3%
68th	French Polynesia	71.67%	3.1%
69th	Spain	71.80%	-8.5%
70th	Costa Rica	72.47%	-11.9%
71st	Mexico	73.58%	-17.1%
72nd	Bermuda	73.59%	-2.1%
73rd	Bahamas, The	76.55%	0.7%
74th	Ukraine	77.51%	-11.3%
75th	Zambia	78.24%	12.9%
76th	West Bank and Gaza	79.53%	-3.5%
77th	Tonga	79.62%	13.5%
78th	Norway	80.36%	-2.7%
79th	Samoa	80.84%	32.9%
80th	El Salvador	81.71%	-7.9%
81st	Bhutan	81.74%	-4.5%
82nd	Germany	81.96%	-7.7%
83rd	Korea	82.26%	-9.2%
84th	Albania	82.35%	-2.8%
85th	Paraguay	82.41%	11.8%
86th	Romania	83.38%	-11.3%
87th	Azerbaijan	83.54%	-4.0%
88th	Finland	85.56%	-9.5%
89th	Congo, Democratic Republic of	86.74%	1.1%
90th	Iceland	87.40%	-6.1%
91st	Panama	88.35%	-5.5%
92nd	Timor-Leste	89.30%	-8.5%
93rd	Gabon	91.48%	-0.6%
94th	Greenland	91.89%	-1.6%
95th	Mauritania	92.17%	-9.7%
96th	Greece	92.47%	-14.5%
97th	Morocco	93.12%	-7.7%
98th	Portugal	93.14%	-8.1%
99th	Moldova	93.99%	-16.2%
100th	Cabo Verde	95.03%	-2.0%
101st	European Union	95.22%	-8.2%
102nd	Guinea	95.83%	1.8%
103rd	Kuwait	96.08%	5.7%
104th	Congo, Republic of	96.21%	-2.0%
105th	Micronesia, Federated States of	97.86%	8.0%
106th	Honduras	98.79%	-12.3%
107th	Bosnia and Herzegovina	99.63%	-9.6%
108th	Eswatini	99.72%	7.7%
109th	Jordan	100.35%	-3.6%
110th	Solomon Islands	101.13%	35.1%
111th	Puerto Rico (US)	101.66%	3.5%
112th	Somalia, Fed. Rep.	103.12%	13.6%
113th	Lebanon	104.21%	-9.3%
114th	Nicaragua	105.00%	-9.1%
115th	Mozambique	106.06%	-21.6%
116th	Belize	106.40%	-1.3%
117th	Oman	106.45%	0.7%
118th	Palau	106.70%	1.4%
119th	Georgia	107.15%	-6.6%
120th	Croatia	107.28%	-14.5%
121st	Kiribati	107.60%	-0.1%
122nd	Sweden	107.62%	0.5%
123rd	Kosovo	109.95%	-0.1%
124th	Poland	110.02%	-10.6%
125th	Namibia	110.77%	11.6%
126th	Tunisia	112.13%	-3.4%
127th	Faroe Islands	113.34%	-7.8%
128th	Serbia	114.49%	-13.2%
129th	Austria	115.15%	-6.8%
130th	Montenegro	116.81%	-6.9%
131st	Marshall Islands	118.49%	-7.7%
132nd	Bulgaria	119.90%	-13.6%
133rd	Cuba	120.53%	28.4%
134th	Armenia	123.42%	18.8%
135th	Thailand	128.82%	-3.0%
136th	Denmark	129.63%	-1.8%
137th	Belarus	131.58%	9.6%
138th	Czechia	131.89%	-8.4%
139th	Kyrgyz Republic	132.37%	-1.1%
140th	Malaysia	132.59%	-9.4%
141st	Cambodia	134.21%	-8.0%
142nd	Switzerland	135.32%	-2.3%
143rd	Latvia	135.64%	-15.2%
144th	Brunei Darussalam	136.86%	-6.9%
145th	Lesotho	141.51%	-0.6%
146th	Mongolia	142.86%	4.8%
147th	Nauru	143.96%	-14.0%
148th	Macao SAR, China	145.87%	-14.4%
149th	Mauritius	147.32%	-0.2%
150th	North Macedonia	147.79%	-11.0%
151st	Lithuania	149.04%	-15.1%
152nd	Maldives	149.35%	-7.9%
153rd	Estonia	154.59%	-12.0%
154th	Bahrain	157.45%	-5.8%
155th	Hungary	158.39%	-14.4%
156th	Aruba	159.02%	-1.0%
157th	Libya	159.43%	2.0%
158th	Slovenia	160.16%	-14.2%
159th	Viet Nam	164.82%	-10.0%
160th	Netherlands	165.03%	-10.4%
161st	Belgium	165.85%	-13.3%
162nd	Seychelles	180.83%	-4.7%
163rd	Slovak Republic	181.39%	-11.1%
164th	Cyprus	190.74%	-7.3%
165th	United Arab Emirates	199.04%	7.2%
166th	Malta	221.06%	-9.8%
167th	Ireland	239.65%	0.8%
168th	Djibouti	285.90%	-5.4%
169th	Singapore	325.69%	-2.0%
170th	San Marino	340.98%	-8.0%
171st	Hong Kong SAR, China	353.01%	-8.3%
172nd	Luxembourg	402.57%	-2.3%

FAQ

What was Latvia's trade openness in 2023?▾

Latvia's trade openness in 2023 was 135.64%. This ranked 143rd globally.

How did Latvia's trade openness change in 2023?▾

Latvia's trade openness decreased by 15.2% in 2023 compared to 2022.

Which country had the highest trade openness in 2023?▾

Luxembourg had the highest trade openness in 2023 at 402.57%.

What is the trade openness of Latvia in 2023?▾

The trade openness of Latvia in 2023 was 135.64%. This ranked 143rd globally.

How does 2023 compare to 2022 for Latvia's trade openness?▾

Latvia's trade openness went from 159.89% in 2022 to 135.64% in 2023, a 15.2% decrease.

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