2022
Exports
$58MWorld Rnk 45 / 216
Flag Rnk 69 / 1190
2022
PRODUCT COMPLEXITY IN Other Electrical Machinery
1.33Rnk 86 / 1025
2022
Imports
$85.6MWorld Rnk 63 / 224
Flag Rnk 61 / 1203

About

Exports In 2022, Latvia exported $58M in Other Electrical Machinery, making it the 45th largest exporter of Other Electrical Machinery in the world. At the same year, Other Electrical Machinery was the 69th most exported product in Latvia. The main destination of Other Electrical Machinery exports from Latvia are: Lithuania ($11.3M), Germany ($9.4M), Austria ($7.99M), Estonia ($6.33M), and Sweden ($2.84M).

The fastest growing export markets for Other Electrical Machinery of Latvia between 2021 and 2022 were Germany ($7.81M), Austria ($7.3M), and Estonia ($3.2M).

Imports In 2022, Latvia imported $85.6M in Other Electrical Machinery, becoming the 63rd largest importer of Other Electrical Machinery in the world. At the same year, Other Electrical Machinery was the 61st most imported product in Latvia. Latvia imports Other Electrical Machinery primarily from: China ($45.2M), Germany ($15.3M), Poland ($4.42M), Lithuania ($4.4M), and France ($3.24M).

The fastest growing import markets in Other Electrical Machinery for Latvia between 2021 and 2022 were China ($3.16M), Germany ($3.11M), and Singapore ($950k).

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 Other Electrical Machinery. 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)$58M
IMPORTS (2022)$85.6M
NET TRADE (2022)-$27.6M

In 2022, Latvia exported $58M in Other Electrical Machinery. The main destinations of Latvia exports on Other Electrical Machinery were Lithuania ($11.3M), Germany ($9.4M), Austria ($7.99M), Estonia ($6.33M), and Sweden ($2.84M).

In 2022, Latvia imported $85.6M in Other Electrical Machinery, mainly from China ($45.2M), Germany ($15.3M), Poland ($4.42M), Lithuania ($4.4M), and France ($3.24M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Other Electrical Machinery EXPORT MARKETS FOR Latvia WERE (2021 - 2022):
Germany$7.81M (491%)
Austria$7.3M (1.06k%)
Estonia$3.2M (102%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Other Electrical Machinery BY Latvia WERE (2021 - 2022):
Russia-$1.65M (-93.3%)
United States-$826k (-46.6%)
United Kingdom-$515k (-46.4%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Latvia's main exporting competitors in Other Electrical Machinery were:
In 2022, Latvia's main importing competitors in Other Electrical Machinery were:

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Trade Value of Other Electrical Machinery by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALGermany+ $3.95M
TOP IMPORT POTENTIALChina+ $3.55M

Other Electrical Machinery’s highest export potential is Germany. With an export gap of $3.95M.   Other Electrical Machinery’s highest import potential is China with an import gap of $3.55M.

See methodology.

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