2022
Exports
$1.58MWorld Rnk 62 / 201
Flag Rnk 599 / 1190
2022
PRODUCT COMPLEXITY IN Electric Soldering Equipment
1.96Rnk 7 / 1025
2022
Imports
$8.09MWorld Rnk 82 / 220
Flag Rnk 412 / 1203

About

Exports In 2022, Latvia exported $1.58M in Electric Soldering Equipment, making it the 62nd largest exporter of Electric Soldering Equipment in the world. At the same year, Electric Soldering Equipment was the 599th most exported product in Latvia. The main destination of Electric Soldering Equipment exports from Latvia are: Lithuania ($560k), Russia ($327k), Estonia ($197k), Switzerland ($109k), and Netherlands ($90.3k).

The fastest growing export markets for Electric Soldering Equipment of Latvia between 2021 and 2022 were Lithuania ($294k), Switzerland ($55.5k), and Estonia ($44.6k).

Imports In 2022, Latvia imported $8.09M in Electric Soldering Equipment, becoming the 82nd largest importer of Electric Soldering Equipment in the world. At the same year, Electric Soldering Equipment was the 412th most imported product in Latvia. Latvia imports Electric Soldering Equipment primarily from: Sweden ($1.22M), Lithuania ($960k), Germany ($919k), China ($905k), and Poland ($841k).

The fastest growing import markets in Electric Soldering Equipment for Latvia between 2021 and 2022 were Sweden ($709k), Netherlands ($70.9k), and Turkey ($49.3k).

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 Soldering Equipment. 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)$1.58M
IMPORTS (2022)$8.09M
NET TRADE (2022)-$6.51M

In 2022, Latvia exported $1.58M in Electric Soldering Equipment. The main destinations of Latvia exports on Electric Soldering Equipment were Lithuania ($560k), Russia ($327k), Estonia ($197k), Switzerland ($109k), and Netherlands ($90.3k).

In 2022, Latvia imported $8.09M in Electric Soldering Equipment, mainly from Sweden ($1.22M), Lithuania ($960k), Germany ($919k), China ($905k), and Poland ($841k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electric Soldering Equipment EXPORT MARKETS FOR Latvia WERE (2021 - 2022):
Lithuania$294k (111%)
Switzerland$55.5k (103%)
Estonia$44.6k (29.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Soldering Equipment BY Latvia WERE (2021 - 2022):
Russia-$1.42M (-81.3%)
United States-$795k (-97.1%)
Poland-$108k (-55.9%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Latvia's main exporting competitors in Electric Soldering Equipment were:
In 2022, Latvia's main importing competitors in Electric Soldering Equipment were:

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Trade Value of Electric Soldering Equipment by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALRussia+ $248k
TOP IMPORT POTENTIALChina+ $550k

Electric Soldering Equipment’s highest export potential is Russia. With an export gap of $248k.   Electric Soldering Equipment’s highest import potential is China with an import gap of $550k.

See methodology.

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