2022
Exports
$7.94MWorld Rnk 44 / 195
Flag Rnk 319 / 1190
2022
PRODUCT COMPLEXITY IN Lubricating Products
1.61Rnk 36 / 1025
2022
Imports
$15.9MWorld Rnk 72 / 224
Flag Rnk 293 / 1203

About

Exports In 2022, Latvia exported $7.94M in Lubricating Products, making it the 44th largest exporter of Lubricating Products in the world. At the same year, Lubricating Products was the 319th most exported product in Latvia. The main destination of Lubricating Products exports from Latvia are: Uzbekistan ($2.21M), Estonia ($1.34M), Lithuania ($1M), Norway ($823k), and Slovakia ($353k).

The fastest growing export markets for Lubricating Products of Latvia between 2021 and 2022 were Slovakia ($244k), Ecuador ($223k), and Italy ($218k).

Imports In 2022, Latvia imported $15.9M in Lubricating Products, becoming the 72nd largest importer of Lubricating Products in the world. At the same year, Lubricating Products was the 293rd most imported product in Latvia. Latvia imports Lubricating Products primarily from: Germany ($6.23M), Lithuania ($2.15M), Estonia ($1.51M), Finland ($1.27M), and Poland ($1.13M).

The fastest growing import markets in Lubricating Products for Latvia between 2021 and 2022 were Estonia ($284k), Finland ($179k), and Spain ($74.4k).

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 Lubricating 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 (2022)$7.94M
IMPORTS (2022)$15.9M
NET TRADE (2022)-$7.96M

In 2022, Latvia exported $7.94M in Lubricating Products. The main destinations of Latvia exports on Lubricating Products were Uzbekistan ($2.21M), Estonia ($1.34M), Lithuania ($1M), Norway ($823k), and Slovakia ($353k).

In 2022, Latvia imported $15.9M in Lubricating Products, mainly from Germany ($6.23M), Lithuania ($2.15M), Estonia ($1.51M), Finland ($1.27M), and Poland ($1.13M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Lubricating Products EXPORT MARKETS FOR Latvia WERE (2021 - 2022):
Slovakia$244k (222%)
Ecuador$223k (1%)
Italy$218k (934%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Lubricating Products BY Latvia WERE (2021 - 2022):
Sweden-$267k (-72.6%)
United Kingdom-$159k (-98.3%)
Russia-$108k (-82.2%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Latvia's main exporting competitors in Lubricating Products were:
In 2022, Latvia's main importing competitors in Lubricating Products were:
China $1.71B

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Trade Value of Lubricating Products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALItaly+ $222k
TOP IMPORT POTENTIALBelgium+ $304k

Lubricating Products’s highest export potential is Italy. With an export gap of $222k.   Lubricating Products’s highest import potential is Belgium with an import gap of $304k.

See methodology.

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