2022
Exports
$3.16MWorld Rnk 41 / 156
Flag Rnk 466 / 1190
2022
PRODUCT COMPLEXITY IN Drilling Machines
1.13Rnk 123 / 1025
2022
Imports
$2.96MWorld Rnk 75 / 210
Flag Rnk 623 / 1203

About

Exports In 2022, Latvia exported $3.16M in Drilling Machines, making it the 41st largest exporter of Drilling Machines in the world. At the same year, Drilling Machines was the 466th most exported product in Latvia. The main destination of Drilling Machines exports from Latvia are: Russia ($2.18M), Lithuania ($760k), India ($126k), Sweden ($20.3k), and Estonia ($19.2k).

The fastest growing export markets for Drilling Machines of Latvia between 2021 and 2022 were Russia ($2.12M), India ($126k), and Belarus ($19k).

Imports In 2022, Latvia imported $2.96M in Drilling Machines, becoming the 75th largest importer of Drilling Machines in the world. At the same year, Drilling Machines was the 623rd most imported product in Latvia. Latvia imports Drilling Machines primarily from: Germany ($668k), Italy ($635k), Sweden ($477k), Lithuania ($436k), and China ($165k).

The fastest growing import markets in Drilling Machines for Latvia between 2021 and 2022 were Italy ($540k), Sweden ($405k), and Germany ($247k).

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 Drilling Machines. 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)$3.16M
IMPORTS (2022)$2.96M
NET TRADE (2022)$199k

In 2022, Latvia exported $3.16M in Drilling Machines. The main destinations of Latvia exports on Drilling Machines were Russia ($2.18M), Lithuania ($760k), India ($126k), Sweden ($20.3k), and Estonia ($19.2k).

In 2022, Latvia imported $2.96M in Drilling Machines, mainly from Germany ($668k), Italy ($635k), Sweden ($477k), Lithuania ($436k), and China ($165k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Drilling Machines EXPORT MARKETS FOR Latvia WERE (2021 - 2022):
Russia$2.12M (3.42k%)
India$126k (1%)
Belarus$19k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Drilling Machines BY Latvia WERE (2021 - 2022):
Lithuania-$648k (-46%)
Malta-$383k (-100%)
Austria-$275k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Latvia's main exporting competitors in Drilling Machines were:
In 2022, Latvia's main importing competitors in Drilling Machines were:

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Trade Value of Drilling Machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $116k
TOP IMPORT POTENTIALGermany+ $159k

Drilling Machines’s highest export potential is India. With an export gap of $116k.   Drilling Machines’s highest import potential is Germany with an import gap of $159k.

See methodology.

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