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Exports In 2022, Latvia exported $794k in Electric Furnaces, making it the 68th largest exporter of Electric Furnaces in the world. At the same year, Electric Furnaces was the 689th most exported product in Latvia. The main destination of Electric Furnaces exports from Latvia are: Netherlands ($422k), Estonia ($83.5k), Sweden ($71.5k), South Africa ($67k), and Turkey ($55.6k).

The fastest growing export markets for Electric Furnaces of Latvia between 2021 and 2022 were Estonia ($73.1k), South Africa ($61.9k), and Turkey ($55.6k).

Imports In 2022, Latvia imported $3.3M in Electric Furnaces, becoming the 92nd largest importer of Electric Furnaces in the world. At the same year, Electric Furnaces was the 599th most imported product in Latvia. Latvia imports Electric Furnaces primarily from: Germany ($823k), Italy ($723k), France ($374k), United States ($329k), and Lithuania ($205k).

The fastest growing import markets in Electric Furnaces for Latvia between 2021 and 2022 were France ($365k), Germany ($364k), and United States ($195k).

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 Electric Furnaces. 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)$794k
IMPORTS (2022)$3.3M
NET TRADE (2022)-$2.51M

In 2022, Latvia exported $794k in Electric Furnaces. The main destinations of Latvia exports on Electric Furnaces were Netherlands ($422k), Estonia ($83.5k), Sweden ($71.5k), South Africa ($67k), and Turkey ($55.6k).

In 2022, Latvia imported $3.3M in Electric Furnaces, mainly from Germany ($823k), Italy ($723k), France ($374k), United States ($329k), and Lithuania ($205k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electric Furnaces EXPORT MARKETS FOR Latvia WERE (2021 - 2022):
Estonia$73.1k (700%)
South Africa$61.9k (1.2k%)
Turkey$55.6k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Furnaces BY Latvia WERE (2021 - 2022):
Lithuania-$213k (-93.5%)
Russia-$187k (-94.8%)
India-$107k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Latvia's main exporting competitors in Electric Furnaces were:
China $1.22B
Italy $722M
In 2022, Latvia's main importing competitors in Electric Furnaces were:

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Trade Value of Electric Furnaces by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALTurkey+ $52.3k
TOP IMPORT POTENTIALGermany+ $251k

Electric Furnaces’s highest export potential is Turkey. With an export gap of $52.3k.   Electric Furnaces’s highest import potential is Germany with an import gap of $251k.

See methodology.

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