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Exports In 2023, Latvia exported $8.56M in Metalworking Machine Parts, making it the 51st largest exporter of Metalworking Machine Parts in the world. At the same year, Metalworking Machine Parts was the 295th most exported product in Latvia. The main destination of Metalworking Machine Parts exports from Latvia are: United States ($993k), Sweden ($972k), Lithuania ($872k), Germany ($785k), and Portugal ($511k).

The fastest growing export markets for Metalworking Machine Parts of Latvia between 2022 and 2023 were United States ($534k), Portugal ($283k), and Slovenia ($182k).

Imports In 2023, Latvia imported $33.8M in Metalworking Machine Parts, becoming the 54th largest importer of Metalworking Machine Parts in the world. At the same year, Metalworking Machine Parts was the 164th most imported product in Latvia. Latvia imports Metalworking Machine Parts primarily from: Netherlands ($7.13M), Italy ($4.47M), Germany ($4.4M), Finland ($3.08M), and Sweden ($2.31M).

The fastest growing import markets in Metalworking Machine Parts for Latvia between 2022 and 2023 were Netherlands ($6.24M), Belgium ($1.68M), and Poland ($1.37M).

Latest Trends

Jan 2025

Subnational Monthly Trade

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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 Metalworking Machine 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)$8.56M
IMPORTS (2023)$33.8M
NET TRADE (2023)-$25.2M

In 2023, Latvia exported $8.56M in Metalworking Machine Parts. The main destinations of Latvia exports on Metalworking Machine Parts were United States ($993k), Sweden ($972k), Lithuania ($872k), Germany ($785k), and Portugal ($511k).

In 2023, Latvia imported $33.8M in Metalworking Machine Parts, mainly from Netherlands ($7.13M), Italy ($4.47M), Germany ($4.4M), Finland ($3.08M), and Sweden ($2.31M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Metalworking Machine Parts EXPORT MARKETS FOR Latvia WERE (2022 - 2023):
United States$534k (116%)
Portugal$283k (125%)
Slovenia$182k (431%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Metalworking Machine Parts BY Latvia WERE (2022 - 2023):
Netherlands-$2.91M (-96.3%)
Poland-$790k (-61.9%)
Denmark-$599k (-95.9%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Type
In 2023, Latvia's main exporting competitors in Metalworking Machine Parts were:
In 2023, Latvia's main importing competitors in Metalworking Machine Parts were:

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Trade Value of Metalworking Machine Parts by Exporters

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALGermany+ $1.14M
TOP IMPORT POTENTIALGermany+ $1.37M

Metalworking Machine Parts’s highest export potential is Germany. With an export gap of $1.14M.   Metalworking Machine Parts’s highest import potential is Germany with an import gap of $1.37M.

See methodology.

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