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Exports In 2023, Latvia exported $9.54M in Silicone, making it the 29th largest exporter of Silicone in the world. At the same year, Silicone was the 281st most exported product in Latvia. The main destination of Silicone exports from Latvia are: Russia ($8.51M), Turkey ($530k), Lithuania ($168k), Uzbekistan ($123k), and Belarus ($66.9k).

The fastest growing export markets for Silicone of Latvia between 2022 and 2023 were Russia ($2.86M), Turkey ($279k), and Netherlands ($12k).

Imports In 2023, Latvia imported $12.3M in Silicone, becoming the 55th largest importer of Silicone in the world. At the same year, Silicone was the 317th most imported product in Latvia. Latvia imports Silicone primarily from: Belgium ($9.25M), Germany ($1.09M), Lithuania ($630k), France ($180k), and United Kingdom ($176k).

The fastest growing import markets in Silicone for Latvia between 2022 and 2023 were Lithuania ($163k), United Kingdom ($115k), and Netherlands ($58.9k).

Latest Trends

Jan 2025

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 Silicone. 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)$9.54M
IMPORTS (2023)$12.3M
NET TRADE (2023)-$2.75M

In 2023, Latvia exported $9.54M in Silicone. The main destinations of Latvia exports on Silicone were Russia ($8.51M), Turkey ($530k), Lithuania ($168k), Uzbekistan ($123k), and Belarus ($66.9k).

In 2023, Latvia imported $12.3M in Silicone, mainly from Belgium ($9.25M), Germany ($1.09M), Lithuania ($630k), France ($180k), and United Kingdom ($176k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Silicone EXPORT MARKETS FOR Latvia WERE (2022 - 2023):
Russia$2.86M (50.6%)
Turkey$279k (111%)
Netherlands$12k (58.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Silicone BY Latvia WERE (2022 - 2023):
Kazakhstan-$277k (-99.9%)
Uzbekistan-$219k (-64%)
Belarus-$154k (-69.7%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Latvia's main exporting competitors in Silicone were:
In 2023, Latvia's main importing competitors in Silicone were:

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Trade Value of Silicone by Exporters

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALTurkey+ $239k
TOP IMPORT POTENTIALGermany+ $698k

Silicone’s highest export potential is Turkey. With an export gap of $239k.   Silicone’s highest import potential is Germany with an import gap of $698k.

See methodology.

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