Latvia - Merchandise exports to low- and middle-income economies outside region (% of total merchandise exports)

Merchandise exports to low- and middle-income economies outside region (% of total merchandise exports) in Latvia was 25.06 as of 2020. Its highest value over the past 28 years was 51.31 in 1993, while its lowest value was 11.72 in 2000.

Definition: Merchandise exports to low- and middle-income economies outside region are the sum of merchandise exports from the reporting economy to other low- and middle-income economies in other World Bank regions according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise exports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.

Source: World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.

See also:

Year Value
1992 38.03
1993 51.31
1994 45.30
1995 39.20
1996 39.27
1997 31.81
1998 21.12
1999 13.47
2000 11.72
2001 14.37
2002 12.81
2003 12.38
2004 12.91
2005 13.84
2006 19.23
2007 20.29
2008 24.03
2009 25.31
2010 26.09
2011 27.98
2012 30.61
2013 27.20
2014 25.33
2015 22.98
2016 22.14
2017 24.52
2018 23.28
2019 25.11
2020 25.06

Development Relevance: Although global integration has increased, low- and middle-income economies still face trade barriers when accessing other markets.

Limitations and Exceptions: Data on exports and imports are from the International Monetary Fund's (IMF) Direction of Trade database and should be broadly consistent with data from other sources, such as the United Nations Statistics Division's Commodity Trade (Comtrade) database. All high-income economies and major low- and middle-income economies report trade data to the IMF on a timely basis, covering about 85 percent of trade for recent years. Trade data for less timely reporters and for countries that do not report are estimated using reports of trading partner countries. Therefore, data on trade between developing and high-income economies should be generally complete. But trade flows between many low- and middle-income economies - particularly those in Sub-Saharan Africa - are not well recorded, and the value of trade among low- and middle-income economies may be understated.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Exports