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Exports In 2022, Latvia exported $217M in Scrap Iron, making it the 41st largest exporter of Scrap Iron in the world. At the same year, Scrap Iron was the 23rd most exported product in Latvia. The main destination of Scrap Iron exports from Latvia are: Turkey ($123M), Estonia ($38.3M), India ($14.6M), Lithuania ($14.6M), and Pakistan ($13.9M).

The fastest growing export markets for Scrap Iron of Latvia between 2021 and 2022 were India ($8.22M), Pakistan ($7.85M), and Bangladesh ($3.35M).

Imports In 2022, Latvia imported $85.2M in Scrap Iron, becoming the 51st largest importer of Scrap Iron in the world. At the same year, Scrap Iron was the 63rd most imported product in Latvia. Latvia imports Scrap Iron primarily from: Denmark ($22.7M), Estonia ($13.3M), Lithuania ($13.3M), Finland ($9.89M), and Iceland ($8.81M).

The fastest growing import markets in Scrap Iron for Latvia between 2021 and 2022 were Denmark ($10.7M), Iceland ($6.8M), and Lithuania ($2.51M).

Latest Trends

Nov 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 Scrap Iron. 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)$217M
IMPORTS (2022)$85.2M
NET TRADE (2022)$132M

In 2022, Latvia exported $217M in Scrap Iron. The main destinations of Latvia exports on Scrap Iron were Turkey ($123M), Estonia ($38.3M), India ($14.6M), Lithuania ($14.6M), and Pakistan ($13.9M).

In 2022, Latvia imported $85.2M in Scrap Iron, mainly from Denmark ($22.7M), Estonia ($13.3M), Lithuania ($13.3M), Finland ($9.89M), and Iceland ($8.81M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Scrap Iron EXPORT MARKETS FOR Latvia WERE (2021 - 2022):
India$8.22M (129%)
Pakistan$7.85M (130%)
Bangladesh$3.35M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Iron BY Latvia WERE (2021 - 2022):
Turkey-$71.7M (-36.9%)
Germany-$4.32M (-93.7%)
Estonia-$4.06M (-9.6%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Latvia's main exporting competitors in Scrap Iron were:
In 2022, Latvia's main importing competitors in Scrap Iron were:
Turkey $8.77B
India $5.65B
Belgium $2.84B

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Trade Value of Scrap Iron by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALIndia+ $11M
TOP IMPORT POTENTIALGermany+ $1.9M

Scrap Iron’s highest export potential is India. With an export gap of $11M.   Scrap Iron’s highest import potential is Germany with an import gap of $1.9M.

See methodology.

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