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Exports In 2023, Latvia exported $310M in Peat, making it the 2nd largest exporter of Peat in the world. At the same year, Peat was the 13th most exported product in Latvia. The main destination of Peat exports from Latvia are: China ($56.1M), Italy ($32.6M), Germany ($24.2M), Lithuania ($21M), and United States ($17.1M).

The fastest growing export markets for Peat of Latvia between 2022 and 2023 were Italy ($5.16M), Mexico ($2.94M), and Lithuania ($2.67M).

Imports In 2023, Latvia imported $11.5M in Peat, becoming the 30th largest importer of Peat in the world. At the same year, Peat was the 328th most imported product in Latvia. Latvia imports Peat primarily from: Lithuania ($5.47M), Estonia ($4.34M), Belarus ($1.56M), Algeria ($46.2k), and Poland ($34.5k).

The fastest growing import markets in Peat for Latvia between 2022 and 2023 were Lithuania ($3.39M), Estonia ($849k), and Belarus ($817k).

Latest Trends

Dec 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 Peat. 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)$310M
IMPORTS (2023)$11.5M
NET TRADE (2023)$299M

In 2023, Latvia exported $310M in Peat. The main destinations of Latvia exports on Peat were China ($56.1M), Italy ($32.6M), Germany ($24.2M), Lithuania ($21M), and United States ($17.1M).

In 2023, Latvia imported $11.5M in Peat, mainly from Lithuania ($5.47M), Estonia ($4.34M), Belarus ($1.56M), Algeria ($46.2k), and Poland ($34.5k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Peat EXPORT MARKETS FOR Latvia WERE (2022 - 2023):
Italy$5.16M (18.8%)
Mexico$2.94M (57.8%)
Lithuania$2.67M (14.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Peat BY Latvia WERE (2022 - 2023):
United States-$8.59M (-33.4%)
Germany-$7.72M (-24.2%)
South Korea-$5.78M (-42.8%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Latvia's main exporting competitors in Peat were:
In 2023, Latvia's main importing competitors in Peat were:

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Trade Value of Peat by Exporters

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALUnited States+ $4.79M
TOP IMPORT POTENTIALGermany+ $104k

Peat’s highest export potential is United States. With an export gap of $4.79M.   Peat’s highest import potential is Germany with an import gap of $104k.

See methodology.

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