2023
Exports
$11.5MWorld Rnk 29 / 136
Flag Rnk 255 / 1196
2023
PRODUCT COMPLEXITY IN Iron Railway Products
0.37Rnk 424 / 1025
2023
Imports
$14.3MWorld Rnk 60 / 196
Flag Rnk 288 / 1206

About

Exports In 2023, Latvia exported $11.5M in Iron Railway Products, making it the 29th largest exporter of Iron Railway Products in the world. At the same year, Iron Railway Products was the 255th most exported product in Latvia. The main destination of Iron Railway Products exports from Latvia are: Estonia ($4.54M), France ($4M), Pakistan ($1.87M), Denmark ($602k), and Netherlands ($192k).

The fastest growing export markets for Iron Railway Products of Latvia between 2022 and 2023 were Pakistan ($1.87M), Netherlands ($105k), and Ukraine ($53.7k).

Imports In 2023, Latvia imported $14.3M in Iron Railway Products, becoming the 60th largest importer of Iron Railway Products in the world. At the same year, Iron Railway Products was the 288th most imported product in Latvia. Latvia imports Iron Railway Products primarily from: Lithuania ($4.26M), Austria ($3.16M), Poland ($2.44M), Spain ($1.73M), and Luxembourg ($1.29M).

The fastest growing import markets in Iron Railway Products for Latvia between 2022 and 2023 were Austria ($2.34M), Poland ($2M), and Luxembourg ($1.23M).

Latest Trends

Dec 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 Iron Railway Products. 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 (2023)$11.5M
IMPORTS (2023)$14.3M
NET TRADE (2023)-$2.85M

In 2023, Latvia exported $11.5M in Iron Railway Products. The main destinations of Latvia exports on Iron Railway Products were Estonia ($4.54M), France ($4M), Pakistan ($1.87M), Denmark ($602k), and Netherlands ($192k).

In 2023, Latvia imported $14.3M in Iron Railway Products, mainly from Lithuania ($4.26M), Austria ($3.16M), Poland ($2.44M), Spain ($1.73M), and Luxembourg ($1.29M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron Railway Products EXPORT MARKETS FOR Latvia WERE (2022 - 2023):
Pakistan$1.87M (1%)
Netherlands$105k (121%)
Ukraine$53.7k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Railway Products BY Latvia WERE (2022 - 2023):
Estonia-$1.53M (-25.2%)
Denmark-$1.45M (-70.6%)
Lithuania-$886k (-88.2%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Latvia's main exporting competitors in Iron Railway Products were:
In 2023, Latvia's main importing competitors in Iron Railway Products were:

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Trade Value of Iron Railway Products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALNetherlands+ $91.7k
TOP IMPORT POTENTIALPoland+ $169k

Iron Railway Products’s highest export potential is Netherlands. With an export gap of $91.7k.   Iron Railway Products’s highest import potential is Poland with an import gap of $169k.

See methodology.

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