2023
Exports
$7.1MWorld Rnk 59 / 212
Flag Rnk 321 / 1196
2023
PRODUCT COMPLEXITY IN Interchangeable Tool Parts
1.77Rnk 16 / 1025
2023
Imports
$16.2MWorld Rnk 82 / 223
Flag Rnk 265 / 1206

About

Exports In 2023, Latvia exported $7.1M in Interchangeable Tool Parts, making it the 59th largest exporter of Interchangeable Tool Parts in the world. At the same year, Interchangeable Tool Parts was the 321st most exported product in Latvia. The main destination of Interchangeable Tool Parts exports from Latvia are: Sweden ($2.17M), Lithuania ($1.51M), Luxembourg ($1.44M), United States ($754k), and Russia ($419k).

The fastest growing export markets for Interchangeable Tool Parts of Latvia between 2022 and 2023 were Sweden ($1.75M), Luxembourg ($688k), and United States ($688k).

Imports In 2023, Latvia imported $16.2M in Interchangeable Tool Parts, becoming the 82nd largest importer of Interchangeable Tool Parts in the world. At the same year, Interchangeable Tool Parts was the 265th most imported product in Latvia. Latvia imports Interchangeable Tool Parts primarily from: Germany ($5.71M), Poland ($1.75M), Lithuania ($1.72M), Estonia ($1.3M), and China ($889k).

The fastest growing import markets in Interchangeable Tool Parts for Latvia between 2022 and 2023 were Poland ($399k), Luxembourg ($187k), and Netherlands ($177k).

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 Interchangeable Tool Parts. 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)$7.1M
IMPORTS (2023)$16.2M
NET TRADE (2023)-$9.13M

In 2023, Latvia exported $7.1M in Interchangeable Tool Parts. The main destinations of Latvia exports on Interchangeable Tool Parts were Sweden ($2.17M), Lithuania ($1.51M), Luxembourg ($1.44M), United States ($754k), and Russia ($419k).

In 2023, Latvia imported $16.2M in Interchangeable Tool Parts, mainly from Germany ($5.71M), Poland ($1.75M), Lithuania ($1.72M), Estonia ($1.3M), and China ($889k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Interchangeable Tool Parts EXPORT MARKETS FOR Latvia WERE (2022 - 2023):
Sweden$1.75M (418%)
Luxembourg$688k (91.2%)
United States$688k (1.04k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Interchangeable Tool Parts BY Latvia WERE (2022 - 2023):
Germany-$219k (-87.8%)
Estonia-$162k (-54.3%)
Turkey-$38.6k (-95.7%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Latvia's main exporting competitors in Interchangeable Tool Parts were:
In 2023, Latvia's main importing competitors in Interchangeable Tool Parts were:

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Trade Value of Interchangeable Tool Parts by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $424k
TOP IMPORT POTENTIALChina+ $1.2M

Interchangeable Tool Parts’s highest export potential is United States. With an export gap of $424k.   Interchangeable Tool Parts’s highest import potential is China with an import gap of $1.2M.

See methodology.

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