2022
Exports
$76.6MWorld Rnk 71 / 222
Flag Rnk 53 / 1190
2022
PRODUCT COMPLEXITY IN Insulated Wire
-0.59Rnk 723 / 1025
2022
Imports
$138MWorld Rnk 84 / 225
Flag Rnk 31 / 1203

About

Exports In 2022, Latvia exported $76.6M in Insulated Wire, making it the 71st largest exporter of Insulated Wire in the world. At the same year, Insulated Wire was the 53rd most exported product in Latvia. The main destination of Insulated Wire exports from Latvia are: France ($12.5M), Estonia ($11.6M), Lithuania ($11.3M), Germany ($6.63M), and United States ($5.46M).

The fastest growing export markets for Insulated Wire of Latvia between 2021 and 2022 were Libya ($4.23M), Estonia ($3.17M), and Lithuania ($2.62M).

Imports In 2022, Latvia imported $138M in Insulated Wire, becoming the 84th largest importer of Insulated Wire in the world. At the same year, Insulated Wire was the 31st most imported product in Latvia. Latvia imports Insulated Wire primarily from: Germany ($25.9M), Poland ($21.5M), Estonia ($17.3M), Lithuania ($10.7M), and China ($8.59M).

The fastest growing import markets in Insulated Wire for Latvia between 2021 and 2022 were Estonia ($6M), Germany ($4.46M), and Slovakia ($4.3M).

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 Insulated Wire. 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)$76.6M
IMPORTS (2022)$138M
NET TRADE (2022)-$61.3M

In 2022, Latvia exported $76.6M in Insulated Wire. The main destinations of Latvia exports on Insulated Wire were France ($12.5M), Estonia ($11.6M), Lithuania ($11.3M), Germany ($6.63M), and United States ($5.46M).

In 2022, Latvia imported $138M in Insulated Wire, mainly from Germany ($25.9M), Poland ($21.5M), Estonia ($17.3M), Lithuania ($10.7M), and China ($8.59M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Insulated Wire EXPORT MARKETS FOR Latvia WERE (2021 - 2022):
Libya$4.23M (1%)
Estonia$3.17M (37.6%)
Lithuania$2.62M (30.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Insulated Wire BY Latvia WERE (2021 - 2022):
Italy-$1.43M (-82.5%)
Russia-$1.17M (-43.4%)
Austria-$490k (-71.1%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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

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Trade Value of Insulated Wire by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $12M
TOP IMPORT POTENTIALChina+ $8.18M

Insulated Wire’s highest export potential is United States. With an export gap of $12M.   Insulated Wire’s highest import potential is China with an import gap of $8.18M.

See methodology.

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