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2022
Exports $309kWorld Rnk 41 / 110
Flag Rnk 827 / 1190
2022
Destination $42.8k Lithuania
2021 - 2022
FASTEST GROWING MARKET $42.8kLithuania
2022
PRODUCT COMPLEXITY IN Time Switches0.78Rnk 256 / 1025
2022
Imports $709kWorld Rnk 63 / 198
Flag Rnk 866 / 1203
2022
Origin $154k Estonia
2021 - 2022
FASTEST GROWING ORIGIN $154kGermany

About

Exports In 2022, Latvia exported $309k in Time Switches, making it the 41st largest exporter of Time Switches in the world. At the same year, Time Switches was the 827th most exported product in Latvia. The main destination of Time Switches exports from Latvia are: Lithuania ($122k), Estonia ($74.9k), Germany ($24.7k), United States ($21.1k), and Netherlands ($20.9k).

The fastest growing export markets for Time Switches of Latvia between 2021 and 2022 were Lithuania ($42.8k), Estonia ($26.4k), and United States ($21.1k).

Imports In 2022, Latvia imported $709k in Time Switches, becoming the 63rd largest importer of Time Switches in the world. At the same year, Time Switches was the 866th most imported product in Latvia. Latvia imports Time Switches primarily from: Estonia ($342k), Germany ($214k), Poland ($59.1k), Hungary ($29.8k), and Italy ($14.7k).

The fastest growing import markets in Time Switches for Latvia between 2021 and 2022 were Germany ($154k), Estonia ($42.8k), and Poland ($17.7k).

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 Time Switches. 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)$309k
IMPORTS (2022)$709k
NET TRADE (2022)-$400k

In 2022, Latvia exported $309k in Time Switches. The main destinations of Latvia exports on Time Switches were Lithuania ($122k), Estonia ($74.9k), Germany ($24.7k), United States ($21.1k), and Netherlands ($20.9k).

In 2022, Latvia imported $709k in Time Switches, mainly from Estonia ($342k), Germany ($214k), Poland ($59.1k), Hungary ($29.8k), and Italy ($14.7k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Time Switches EXPORT MARKETS FOR Latvia WERE (2021 - 2022):
Lithuania$42.8k (54.2%)
Estonia$26.4k (54.3%)
United States$21.1k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Time Switches BY Latvia WERE (2021 - 2022):
Germany-$9.74k (-28.2%)
Norway-$9.36k (-74.7%)
Bahrain-$8.22k (-77.3%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Latvia's main exporting competitors in Time Switches were:
China $165M
Mexico $92M
France $43.8M
In 2022, Latvia's main importing competitors in Time Switches were:
United States $107M
France $42M
Germany $25.1M

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Trade Value of Time Switches by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $26.3k
TOP IMPORT POTENTIALChina+ $11.2k

Time Switches’s highest export potential is United States. With an export gap of $26.3k.   Time Switches’s highest import potential is China with an import gap of $11.2k.

See methodology.

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