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Exports In 2023, Latvia exported $1.01M in Tool Sets, making it the 47th largest exporter of Tool Sets in the world. At the same year, Tool Sets was the 645th most exported product in Latvia. The main destination of Tool Sets exports from Latvia are: Russia ($500k), Netherlands ($185k), Lithuania ($119k), Poland ($53.7k), and United Kingdom ($34k).

The fastest growing export markets for Tool Sets of Latvia between 2022 and 2023 were Netherlands ($116k), Russia ($106k), and United States ($22.8k).

Imports In 2023, Latvia imported $1.69M in Tool Sets, becoming the 82nd largest importer of Tool Sets in the world. At the same year, Tool Sets was the 714th most imported product in Latvia. Latvia imports Tool Sets primarily from: China ($482k), Germany ($380k), Poland ($303k), Lithuania ($164k), and Estonia ($94.8k).

The fastest growing import markets in Tool Sets for Latvia between 2022 and 2023 were China ($106k), Lithuania ($96.7k), and Germany ($57.1k).

Latest Trends

Jan 2025

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 Tool Sets. 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)$1.01M
IMPORTS (2023)$1.69M
NET TRADE (2023)-$680k

In 2023, Latvia exported $1.01M in Tool Sets. The main destinations of Latvia exports on Tool Sets were Russia ($500k), Netherlands ($185k), Lithuania ($119k), Poland ($53.7k), and United Kingdom ($34k).

In 2023, Latvia imported $1.69M in Tool Sets, mainly from China ($482k), Germany ($380k), Poland ($303k), Lithuania ($164k), and Estonia ($94.8k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Tool Sets EXPORT MARKETS FOR Latvia WERE (2022 - 2023):
Netherlands$116k (169%)
Russia$106k (26.8%)
United States$22.8k (1.98k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Tool Sets BY Latvia WERE (2022 - 2023):
United Kingdom-$31.1k (-47.8%)
Israel-$17k (-100%)
Sweden-$8.43k (-92.3%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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

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Trade Value of Tool Sets by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALRussia+ $71.7k
TOP IMPORT POTENTIALChina+ $158k

Tool Sets’s highest export potential is Russia. With an export gap of $71.7k.   Tool Sets’s highest import potential is China with an import gap of $158k.

See methodology.

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