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Exports In 2022, Latvia exported $10.9M in Compasses, making it the 42nd largest exporter of Compasses in the world. At the same year, Compasses was the 267th most exported product in Latvia. The main destination of Compasses exports from Latvia are: Canada ($6.09M), Lithuania ($933k), Turkey ($870k), Estonia ($851k), and United Kingdom ($591k).

The fastest growing export markets for Compasses of Latvia between 2021 and 2022 were Turkey ($478k), United States ($207k), and Canada ($206k).

Imports In 2022, Latvia imported $6.52M in Compasses, becoming the 65th largest importer of Compasses in the world. At the same year, Compasses was the 466th most imported product in Latvia. Latvia imports Compasses primarily from: Netherlands ($2.22M), Germany ($803k), United Kingdom ($599k), United States ($583k), and Poland ($556k).

The fastest growing import markets in Compasses for Latvia between 2021 and 2022 were Netherlands ($1.26M), United States ($336k), and Denmark ($149k).

Latest Trends

Oct 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Compasses. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$10.9M
IMPORTS (2022)$6.52M
NET TRADE (2022)$4.43M

In 2022, Latvia exported $10.9M in Compasses. The main destinations of Latvia exports on Compasses were Canada ($6.09M), Lithuania ($933k), Turkey ($870k), Estonia ($851k), and United Kingdom ($591k).

In 2022, Latvia imported $6.52M in Compasses, mainly from Netherlands ($2.22M), Germany ($803k), United Kingdom ($599k), United States ($583k), and Poland ($556k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Compasses EXPORT MARKETS FOR Latvia WERE (2021 - 2022):
Turkey$478k (122%)
United States$207k (1.51k%)
Canada$206k (3.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Compasses BY Latvia WERE (2021 - 2022):
Lithuania-$1.17M (-55.7%)
United Kingdom-$1.09M (-64.9%)
Poland-$190k (-55.4%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Latvia's main exporting competitors in Compasses were:
In 2022, Latvia's main importing competitors in Compasses were:

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Trade Value of Compasses by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALUnited States+ $426k
TOP IMPORT POTENTIALUnited Kingdom+ $300k

Compasses’s highest export potential is United States. With an export gap of $426k.   Compasses’s highest import potential is United Kingdom with an import gap of $300k.

See methodology.

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