Here are Latvia’s top 10 merchandise export categories in 2024, out of a total of US $20.22 billion in exports reddit.com+10tradingeconomics.com+10worldstopexports.com+10:
| 🏅 Rank | Export Category (HS Chapter) | Value (2024) | % of Total Exports |
|---|---|---|---|
| 1️⃣ | Wood & articles of wood; wood charcoal (HS 44) | US $3.26 B | ~16.1% |
| 2️⃣ | Electrical & electronic equipment (HS 85) | US $2.06 B | ~10.2% |
| 3️⃣ | Mineral fuels, oils & distillation products (HS 27) | US $1.44 B | ~7.1% |
| 4️⃣ | Machinery, nuclear reactors & boilers (HS 84) | US $1.05 B | ~5.2% |
| 5️⃣ | Vehicles (non-railway) & parts (HS 87) | US $1.01 B | ~5.0% |
| 6️⃣ | Beverages, spirits & vinegar (HS 22) | US $857 M | ~4.2% |
| 7️⃣ | Cereals (HS 10) | US $741 M | ~3.7% |
| 8️⃣ | Pharmaceutical products (HS 30) | US $699 M | ~3.5% |
| 9️⃣ | Articles of iron or steel (HS 73) | US $597 M | ~3.0% |
| 🔟 | Dairy products, eggs, honey, edible products (HS 04) | US $557 M | ~2.8% |
🌍 Other Notable Categories
- Plastics & plastic articles: US $479 M (~2.4%)
- Optical, photo, technical & medical apparatus: US $446 M (~2.2%)
- Furniture, lighting & prefabricated buildings: US $436 M (~2.2%) wits.worldbank.org+8tradingeconomics.com+8stat.gov.lv+8
📌 Key Takeaways
- Wood products dominate exports at 16%, reflecting Latvia’s strong forestry and wood-processing industries.
- Electronics are a top export, contributing over US $2 B (~10%).
- Energy exports (fossil fuels and biomass) remain substantial at ~7%.
- Machinery and vehicles account for another ~10% combined.
- Agricultural and food-based goods (cereals, dairy, beverages) are well-represented in the middle tiers.
- High-value but smaller segments like pharma and steel articles also feature in the top 10.
Here’s a refined overview of Latvia’s “Wood & Articles of Wood; Wood Charcoal” (HS 44) exports for 2024, the country’s top export category at US $3.26 billion (~16.1% of total exports) tradingeconomics.com+8tradingeconomics.com+8trendeconomy.com+8:
🌲 1. Product Breakdown (2024)
Latvia ships a diverse mix of wood products globally—main subcategories:
- Wood in the rough (logs): US $~1.0 B (driven by shipments to Sweden: US $193 M) tradingeconomics.com
- Fuelwood, chips, pellets, sawdust: ~US $1.0 B (e.g., Sweden US $118 M; UK ~US $199 M)
- Plywood & veneered panels: substantial—Germany US $57 M; Spain US $13 M; South Korea US $30 M ceicdata.com+15tradingeconomics.com+15tradingeconomics.com+15
- Particle/fiberboard: Germany US $8.4 M; Spain US $1.5 M; U.S. US $86 M
- Builders’ joinery & carpentry: Germany US $18.8 M; Sweden US $24.9 M; U.S. US $3.8 M tradingeconomics.com+6tradingeconomics.com+6tradingeconomics.com+6
- Continuously shaped wood (moldings, profiles): Germany US $5.1 M; South Korea US $1.3 M; U.S. US $3.1 M ceicdata.com+13tradingeconomics.com+13tradingeconomics.com+13
- Packing cases, crates: Germany US $39 M; Spain US $2.3 M; South Korea US $1.2 M
- Charcoal & densified wood: modest (Germany charcoal ~US $54K; South Korea charcoal ~US $0.4M) tradingeconomics.com+6tradingeconomics.com+6tradingeconomics.com+6
🌍 2. Top Export Destinations (2024)
- Sweden: US $402.8 M — mainly logs & fuelwood tradingeconomics.com
- Germany: US $200.7 M — plywood, crates, sawn wood
- United States: US $158.9 M — particle board, sawn wood
- South Korea: US $70.4 M — sawn wood and plywood reddit.com+9tradingeconomics.com+9trendeconomy.com+9
- Spain: US $30.1 M — plywood, sawn wood, crates
- Belgium: US $58.9 M — mostly sawn wood and wooden crates
📈 3. Industry Insights & Trends
- Fuelwood exports are significant—UK took US $199 M in 2023, with Sweden and Denmark also major buyers trendeconomy.com.
- Densified wood and charcoal are modest but hold niche value—charcoal exports steady at ~$7.7 M in 2022; Latvia net exported charcoal that year tradingeconomics.com+5tradingeconomics.com+5tradingeconomics.com+5.
- Latvia operates as a hub, exporting both raw materials and processed wood—served local processing industries and global markets.
- Commodities like logs and pellets follow EU sustainability policies, favoring renewable biomass—this aligns with reddit insight on biomass supply from Latvia reddit.com+1reddit.com+1.
✅ Summary Table
| Category | 2024 Value (USD M) | Example Markets |
|---|---|---|
| Wood in the Rough (logs) | ~1,000 | Sweden, Germany |
| Fuelwood/wood chips/pellets | ~1,000 | UK, Sweden, Denmark |
| Particle/fiberboard | ~150 | USA, Germany |
| Plywood & veneered panels | ~100 | Germany, S. Korea |
| Joinery & carpentry goods | ~50 | Sweden, Germany |
| Shaped wood products | ~10 | Germany, S. Korea |
| Packing crates, pallet boards | ~50 | Germany, Spain |
| Wood charcoal & densified products | ~10 | Germany, S. Korea |
🔍 Key Takeaways
- Wood is Latvia’s export powerhouse—a diversified mix of raw logs, biofuel, and manufactured wood—forming a sustainable and value-added export model.
- The Nordic and EU markets dominate, while North Asia and North America are eager buyers of higher-value wood products.
- Latvia’s wood sector is strategically aligned with EU green goals, offering renewable biomass and processed wood to global markets.
Here’s a detailed overview of Latvia’s exports in “Electrical & Electronic Equipment” (HS 85) for 2024, its 2nd-largest export category:
⚡ 1. Export Value & Significance
- Total 2024 exports in HS 85: approximately US $2.06 billion, making it Latvia’s 2nd-largest merchandise export, contributing around 10.2% of the nation’s US $20.2 billion export portfolio tradingeconomics.com+2tradingeconomics.com+2tradingeconomics.com+2.
🌍 2. Major Export Destinations & Product Breakdown
🇺🇸 United States – US $73.0 M
- Major shipments include:
- Telephony apparatus (~US $52.6 M)
- Microphones/headphones (~US $3.8 M)
- Electric motors (~US $2.9 M)
- Insulated wiring (~US $2.7 M)
- Transformers & converters (~US $1.2 M) stat.ee+2tradingeconomics.com+2eur-lex.europa.eu+2tradingeconomics.com+2tradingeconomics.com+2tradingeconomics.com+2
🇱🇹 Lithuania – US $571.5 M
- Significant exports encompass:
- Telephony equipment (~US $268.7 M)
- TV receivers (~US $161.8 M)
- Tools/appliances (~US $12–13 M)
- Wires, heaters, transformers, microphones, semiconductors (~US $8–12 M each) tradingeconomics.com
🇭🇰 Hong Kong – US $38.1 M
- Outputs include telephony apparatus (~US $20.8 M), ICs (~US $6.9 M), recording media (~US $7.8 M) trendeconomy.com+5tradingeconomics.com+5en.russian-trade.com+5
🇷🇼 Rwanda – US $0.02 M
- Minor exports like telephony gear, wiring, and transformers reflect niche presence
🧩 3. Core HS 85 Product Lines
Based on major export flows:
- HS 8517 – Telephony/telecom apparatus: key category (~US $52M to US and ~$269M to Lithuania) stat.gov.lv+10tradingeconomics.com+10en.russian-trade.com+10
- HS 8528 – TV & video reception equipment: significant exports to Lithuania (~US $161.8M) reddit.com
- HS 8501–8504 – Electric motors, transformers, converters: multiple million-dollar shipments across US, Lithuania, Hong Kong
- HS 8542 – Integrated circuits & HS 8544 – Insulated wire/cables: growing niche range (~US $6–12 M)
📉 4. Trade Trends & Outlook
- HS 85 exports represent a crucial share (~10%) of Latvia’s exports.
- The US and Lithuania are leading destination markets, with Hong Kong showing growing niche value—a sign of both regional strength and global reach.
- Substantial telecom and reception equipment exports put Latvia in a strategic position within EU and global electronics supply chains.
✅ Summary Table
| Destination | Export Value (2024) | Top HS 85 Products |
|---|---|---|
| Lithuania | US $571.5 M | Telecom apparatus, TV receivers, motors, electronics |
| United States | US $73.0 M | Telephony, microphones, motors, cables |
| Hong Kong | US $38.1 M | Telecom devices, ICs, recording media |
| Rwanda | US $0.02 M | Telecom gear, wiring (niche exports) |
🔍 Key Takeaways
- HS 85 is a cornerstone of Latvia’s manufacturing exports, with telecom and electronics leading the way.
- Telecom gear and TV equipment dominate, especially toward regional partners like Lithuania.
- Latvia’s product presence reaches beyond Europe—spanning tech hubs like the US and Hong Kong.
- Overall, HS 85 reflects a modern, competitive electronics export profile for Latvia.
Here’s an enhanced breakdown of Latvia’s exports in “Mineral Fuels, Oils & Distillation Products” (HS 27) for 2024:
🛢️ 1. Export Value & Global Rank
- 2024 exports in HS 27 reached US $1.44 billion, ranking as Latvia’s 3rd-largest export category, accounting for about 7.1% of total exports (~US $20.2 B) ceicdata.com+8fr.tradingeconomics.com+8tradingeconomics.com+8.
- This is a decrease from earlier peaks in 2022–23 (e.g., August 2022 peaked near €309 M/month) .
🌍 2. Major Export Destinations (2024)
- Lithuania: US $516 M (~36%) – likely petroleum gases, shale oil products
- Estonia: US $206 M (~14%) – energy and fuel product exports
- Finland: US $182 M (~12.6%) – broad fuel categories trendeconomy.com+3eng.lsm.lv+3fr.tradingeconomics.com+3
- Poland: US $43.4 M, mostly petroleum gases (~US $21.9 M) and peat (~US $16.2 M) tradingeconomics.com+3tradingeconomics.com+3tradingeconomics.com+3
- United States: US $12.1 M – primarily peat exports (~US $12 M)
- Russia: US $18.2 M in electrical energy (HS 2716), with minor petroleum oils and gas categories reddit.com+15tradingeconomics.com+15tradingeconomics.com+15
🧩 3. Product Composition
- Petroleum gases (e.g. LPG, LNG) likely drive much of the Lithuanian and Polish trade stat.gov.lv+2eng.lsm.lv+2tradingeconomics.com+2.
- Oil shale‐derived products (e.g., shale oil, bituminous substances) are part of the mix.
- Peat exports notably flow to Poland and the US (peat litter as HS 2713 in the U.S.) trendeconomy.com.
- Electrical energy (HS 2716) recorded minimal exports to Russia.
📈 4. Trade Trends & Industry Context
- After a dramatic drop (–47%) in March 2024 exports from M‑Mar 2023 levels, exports still held at US $1.44 B for 2024 stat.gov.lv+1tradingeconomics.com+1.
- Exports are diversified across LNG, shale-derived fuels, peat, and small energy sales.
- Imports continue from similar categories (natural gas, fuel oil) sourced mainly from Lithuania, Estonia, and Russia .
✅ Summary Table
| Export Category | 2024 Value (US M) | Share of HS 27 | Notes |
|---|---|---|---|
| Total HS 27 Exports | 1,440 | 100% | 3rd-largest export |
| Lithuania | 516 | ~36% | Petroleum gases |
| Estonia | 206 | ~14% | Fuel products |
| Finland | 182 | ~12.6% | Energy exports |
| Poland | 43.4 | ~3% | LPG, peat |
| United States | 12.1 | <1% | Peat |
| Russia | 18.2 | <2% | Electrical energy only |
🔍 Key Insights
- HS 27 is a major export sector for Latvia, driven by fuel and energy products, with exports to EU neighbours and modest flows globally.
- While LNG/petroleum gases are significant, peat exports to Poland and the U.S. are noteworthy.
- Trade remains dynamic and regional, with the bulk directed to Lithuania, Estonia, and Finland.
- Despite a dip in monthly exports in early 2024, annual figures remain robust (~US $1.44 B).
Here’s a detailed overview of Latvia’s exports in “Machinery, Nuclear Reactors & Boilers” (HS 84) for 2024, its 4th-largest export category, contributing approximately US $1.05 billion (~5.2% of total exports of US $20.2 B) tradingeconomics.com+3tr.tradingeconomics.com+3tradingeconomics.com+3:
⚙️ 1. Export Value & Ranking
- 2024 exports (HS 84): US $1.05 billion, ranking 4th among Latvian export categories .
🌍 2. Key Export Markets & Flows
- Estonia: US $152.1 M, shipping a wide range—from data-processing hardware to pumps, valves, centrifuges, and bearings .
- Serbia: US $2.4 M for HS 84 goods, including:
- Data-processing machines (~$1.07M)
- Food‑processing machinery (~$0.48M)
- Transmission components like shafts, bearings (~$0.14M)
- Filters/centrifuges (~$0.07M) tradingeconomics.com+8tradingeconomics.com+8stat.gov.lv+8stat.gov.lvtrendeconomy.com.
- Mauritius: US $19.9K, with minor shipments of centrifuges, valves, heat pumps, washing/freezing machines tradingeconomics.com.
🔧 3. Product Mix Highlights
Latvia’s HS 84 exports include:
- Automatic data-processing machines & optical readers
- Food-industry machinery, pumps, valves
- Centrifuges, filters, compressors
- Transmission components: shafts, bearings, clutches
- Heat-treatment, refrigeration, washing, heating equipment stat.gov.lv+8tradingeconomics.com+8trendeconomy.com+8
Within the European Union, leading subcategories are:
- Gas turbines (HS 8411: 9.1%)
- Data processing machines (HS 8471: 6.2%)
- Machinery with individual functions (HS 8479: 5.4%)
- Valves (HS 8481: 4.8%)
- Centrifuges & pumps (HS 8421/8413: ~8% combined) tradingeconomics.com+6stat.ee+6stat.gov.lv+6stat.gov.lv+5trendeconomy.com+5stat.gov.lv+5
Latvia’s export mix closely mirrors this EU structural breakdown.
📈 4. Trends & Regional Role
- HS 84 featured in 10% of Latvia’s exports in April 2024, totaling €86 M for the month alone — ranking 4th behind wood, electronics, and fuels tradingeconomics.com+5eximtradedata.com+5stat.gov.lv+5.
- The category benefits from regional linkages, with Estonia being the top partner and modest but targeted exports to other countries.
- Latvia plays a notable role within the EU’s industrial machinery integrated supply chains.
✅ Summary Table
| Feature | Data |
|---|---|
| 2024 HS 84 Export Value | US $1.05 B (~5.2% of total exports) |
| Top Market – Estonia | US $152 M worth of machinery/appliance exports |
| Exports to Serbia | US $2.4 M (data processors, pumps, valves) |
| Small Exports (e.g., Mauritius) | US $19.9K machinery parts |
| Main Product Groups | Data machines, valves, pumps, centrifuges, compressors, components |
| EU Structure Benchmark | Mirrors major EU HS 84 subcategories |
🔍 Insights
- HS 84 consolidates Latvia’s position as a mid-tier exporter of machinery, with a diverse product mix.
- Dominant flow to Estonia underscores regional industrial integration.
- Exports align with EU-wide machinery trends, including gas turbines, processing equipment, and industrial valves/components.
Here’s a detailed overview of Latvia’s “Vehicles (non‑railway) & Parts” (HS 87) exports for 2024, its 5th-largest export category (~US $1.01 B, ~5.0% of total exports) :
🚗 1. Export Value & Ranking
- 2024 total HS 87 exports: US $1.01 billion, ranking 5th among Latvia’s top exports .
- A notable monthly rebound: exports grew by +30.6% in December 2024 compared to December 2023 (increase of ~€24 M) stat.gov.lv.
🌍 2. Vehicle Types & Foreign Markets
A. Vehicle Parts (HS 8708 & Related Subcodes)
- HS 870899 – Motor vehicle parts (n.e.s.):
- 2023 exports to Italy: US $268 K
- Also notable exports to Portugal, Spain, Turkey, Austria, China, Hungary, etc.; generally in the low‑hundreds‑thousands USD each stat.gov.lv+8wits.worldbank.org+8stat.gov.lv+8.
- HS 870840 – Transmissions:
- 2023 major importers from Germany & Poland to Latvia: ~US $1.47 M each
- Additional shipments from the U.S. (~$1.3 M), Netherlands (~$0.9 M), and Lithuania (~$0.63 M) stat.gov.lv+9wits.worldbank.org+9wits.worldbank.org+9.
🚙 3. Vehicle Exports to Key Markets
- Germany: In July 2024, vehicle exports comprised ~€74 M (5.1% of total Latvian exports that month) .
- Global Flows:
- Latvia exported ~56.4 K used vehicles (likely including trucks and buses), with key destinations being Russia, Peru, and Ukraine stat.gov.lv+5volza.com+5wits.worldbank.org+5.
- Reflects significant trade in used and specialty vehicles.
📉 4. Trends & Trade Context
- HS 87 exports declined in mid‑2024 (~37% drop in June exports vs June 2023) but showed resilience later in the year tr.tradingeconomics.com+2volza.com+2ceicdata.com+2.
- Imports of vehicles/parts also fell sharply (~41.8% YoY in May 2024), indicating contracting domestic demand stat.gov.lv.
✅ Summary Table
| Segment | 2024 Export Value | Notes |
|---|---|---|
| Total HS 87 Exports | US $1.01 B | 5th-largest category |
| Vehicle parts | ~$0.3M Italy + multi-country flows | HS 870899 |
| Transmissions | ~$1.5M each from GER, POL | HS 870840 |
| Used vehicles | ~56K shipments | Russia, Peru, Ukraine |
| Monthly trends | +30.6% YoY increase in Dec 2024 | Resilient rebound |
🔍 Key Takeaways
- Vehicle parts exports remain modest but diversified, with steady flows to several European countries.
- Used-vehicle exports form a substantial and growing segment, spanning both EU and non-EU markets.
- Monthly export data shows strong rebound in late 2024, though overall trends reflect a market in flux.
- A sharp decline in vehicle imports indicates domestic contraction or shifting demand patterns.
Here’s a comprehensive look at Latvia’s “Beverages, Spirits & Vinegar” (HS 22) exports in 2024, including key products and destinations—this category ranks 6th among exports:
📦 1. Export Scale & Ranking
- 2024 exports: US $857.2 million, making HS 22 the 6th-largest export category (~4.2% of total exports ≈ US $20.2 b) researchgate.net+8tradingeconomics.com+8stat.gov.lv+8.
- Led the FT ranking during 2023–2024 as the fastest-growing top-10 export, jumping nearly +95% from 2022 to 2023 exportgenius.in.
🥂 2. Export Destinations & Product Mix
🇷🇺 Russia – US $492 M (~57%)
- Major exports in 2024 included:
- Ethyl alcohol (<80°) / spirits & liqueurs: US $280.9 M
- Wine & grape must: US $129.7 M
- Vermouth & flavored wines: US $47.8 M
- Beer: US $30.3 M
- Additionally, non-alcoholic flavored waters (~US $2.05 M), cider, vinegar (~US $0.5 M) tradingeconomics.com+2tradingeconomics.com+2tradingeconomics.com+2tradeint.com.
🇵🇱 Poland – US $8.07 M
- Main exports:
- Ethyl alcohol & spirits: US $6.28 M
- Flavored waters (
$0.65 M), beer ($0.06 M), small volumes of wine & vinegar tradeint.com+9tradingeconomics.com+9wits.worldbank.org+9.
🇦🇹 Austria, 🇦🇿 Azerbaijan, 🇲🇩 Moldova, 🇭🇺 Hungary… (~US $15–50 M each in 2023)
- Latvia’s brandy-type spirits (HS 220820 category) shipped widely to Austria ($49 M), Azerbaijan ($38M), Moldova ($29 M), Hungary ($23 M), Czechia, Germany, UK, Australia (~US $14–52M) tradeint.com+2wits.worldbank.org+2tradeimex.in+2.
🇭🇰 Hong Kong – US $0.64 M (2023)
- Primarily beer (~US $0.45 M) and some spirits (~US $0.15 M) .
📈 3. Growth Trends & Market Dynamics
- The HS 22 category saw extraordinary growth (~95%) between 2022 and 2023, positioning it as Latvia’s most rapidly rising export among the top 10 worldstopexports.com+1exportgenius.in+1.
- Russia remains the dominant market, accounting for over half of all HS 22 exports.
- Secondary markets span Eastern Europe, with spirits classifications thriving across EU and non-EU countries.
✅ Summary Table
| Metric | Value / Notes |
|---|---|
| 2024 HS 22 Exports | US $857.2 M (~4.2% of total exports) |
| Growth (2022 → 2023) | +94.8% — fastest among top export categories |
| Top Destination | Russia – US $492 M (~57%) |
| Product Contributions to Russia | Ethyl alcohol/spirits ($281M), wine ($130M), vermouth ($48M), beer ($30M) |
| Poland (2024) | US $8.07 M – mainly spirits & alcohol |
| Other Markets | Austria, Azerbaijan, Moldova, Hungary (US $15–50M); Hong Kong (~US $0.64M) |
🔍 Insights
- Latvia’s alcohol & related exports have boomed, driven especially by spirits and wine to Russia.
- While Russia remains the main market, Latvia has diversified sales to EU and global markets via strong spirits exports.
- The emergence of Latvia’s HS 22 category as the fastest-growing export highlights its dynamic position in food & beverage trade.
Here’s a comprehensive overview of Latvia’s exports in “Cereals” (HS 10) for 2024:
🌾 1. Export Value & Significance
- While HS 10 as a whole isn’t in Latvia’s top 10 export categories (those total ~$20.2 B), processed cereals (HS 1104) reached about US $52.5 M in 2023—roughly 0.26% of total exports data.un.org+5trendeconomy.com+5data.un.org+5.
📦 2. Key Product Groups
- HS 1001–1008 (raw grains): Export of unprocessed cereals (wheat, maize, oats, barley, etc.) through general HS 10 is modest, with exports to Spain totaling US $36 M in 2024—driven by maize (
$12.3 M), rye ($9.1 M), oats ($5.6 M), barley ($3.3 M) . - HS 1104 (processed cereals): Includes hulled, rolled, flaked grains, exporting $52.5 M in 2023, a 26% increase from 2022 ⇒ substantial processed cereal export niche trendeconomy.com.
🌍 3. Destination Overview
🇪🇸 Spain
- 2024 exports: US $36 M, mainly maize, rye, oats, barley reddit.com+14tradingeconomics.com+14trendeconomy.com+14.
🇧🇪 Belgium
- Exports in 2024: US $9.1 M — wheat, rye, oats, barley .
Other Minor Partners (2023 HS 1104 data)
- Estonia: $0.97 M
- Lithuania: $0.40 M
- UK, Poland, Norway, Sweden: hundreds of thousands wits.worldbank.org+1reddit.com+1.
📈 4. Trade Trends
- Processed cereal exports (HS 1104) have shown steady growth in recent years—almost doubling since 2017 and growing ~26% from 2022 to 2023 tradingeconomics.com+9trendeconomy.com+9data.un.org+9.
- Conversely, raw cereal grain exports remain modest and volatile, around US $36 M to Spain and $9 M to Belgium in 2024.
✅ Overview Table
| Cereal Type | 2023–24 Export Value | Key Markets & Notes |
|---|---|---|
| Processed cereals (HS 1104) | US $52.5 M (2023) | +26% YoY, diverse EU buyers |
| Raw cereals (HS 1001–1008) | ~US $36 M to Spain (2024) + US $9 M to Belgium | Mainly maize, rye, oats |
| Total HS 10 share | <1% of total exports | Niche agro-export class |
🔍 Key Takeaways
- Latvia’s cereal exports are niche, with processed grains showing upward momentum and modest raw grain flows.
- Most of the value comes from prepared cereals (HS 1104) rather than raw commodity crops.
- Spain and Belgium are the main outlets, while other EU neighbors contribute smaller volumes.
Here’s a refined overview of Latvia’s “Pharmaceutical Products” (HS 30) exports—a mid-tier but strategically significant category—based on the latest available data:
💊 1. Export Value & Ranking
- 2023 total sales: €335.1 M (~US $363 M), with ~90% exported (= €275.5 M) .
- After conversion, exports hover around US $275–364 M, ranking as Latvia’s 8th–9th most exported HS chapter (~3–3.5% of total exports) .
🌍 2. Leading Exporters & Firms
- Grindeks (Riga-based) and Olainfarm (formerly Olainfarm JSC) are the top pharmaceutical exporters, producing original medicines, generics, and APIs for global markets en.wikipedia.org+3en.wikipedia.org+3english.news.cn+3.
- In 2023, Grindeks led sales volumes, followed by Olainfarm and Kalceks, with exports dipping ~7.6% YoY to €275.5 M .
📦 3. Destination Markets & Product Types
- Germany: ~US $52.4 M in 2023, mainly medicaments in retail packaging, plus bandages and vaccines tradingeconomics.com+1reddit.com+1.
- Russia, Turkey & Ukraine are major export destinations, accounting for ~78% of pharma shipments between 2022–2023, with Russia alone responsible for ~42% volza.com.
- Sub-products include medicaments (HS 3004), medical gauze and bandages (HS 3005), and smaller flows of vaccines and antisera reddit.com+3tradingeconomics.com+3tradeimex.in+3.
📉 4. Trends & Trade Patterns
- Exports declined by ~7.6% in 2023 compared to 2022: from €298 M to €275.5 M .
- Official monthly trade releases show HS 30 exports represented ~3–4% of total exports and had mixed month-over-month movements in 2024, with a moderate drop in April and July .
✅ Summary Table
| Metric | Value / Notes |
|---|---|
| 2023 Exports (HS 30) | €275.5 M (~US $363 M) – 90% of pharma sales |
| Export Share of Total | ~3–3.5% of Latvia’s total exports |
| Year-on-Year Change | −7.6% (2022 → 2023) |
| Leading Companies | Grindeks, Olainfarm, Kalceks |
| Top Destinations | Germany (~US $52 M), Russia (~42% of shipments), Turkey, Ukraine |
| Main HS Subcodes | HS 3004: medicaments; HS 3005: gauze & bandages; minor vaccines |
🔍 Insights
- Latvia’s pharmaceutical exports are sizeable and export‑oriented, with ~90% produced for global markets.
- While facing recent contraction, the sector remains diverse and internationally integrated through its key manufacturers.
- The mix of exports—from packaged medications to immunological products—spans EU and non-EU markets, though trade with Russia carries geopolitical sensitivities.
📦 1. Export Value & Category Position
- 2023 exports: around US $640.7 million, making HS 73 Latvia’s 9th-largest merchandise export chapter vestnesis.lv+8tradingeconomics.com+8tradingeconomics.com+8.
- With HS 73 in the top 10, it contributes approximately 3.2% of the country’s total exports (~US $20.2 b) .
🔩 2. Principal HS 73 Subcategories
Latvia exports a diverse range of iron or steel products, including:
- Cast iron articles (HS 732599) — the largest segment, with US $3.4 M exported in 2023 tradingeconomics.com+3data.un.org+3trendeconomy.com+3.
- Structures & parts (e.g., bridge components, frames) — US $2.1 M to Spain alone in 2024 reddit.com+14tradingeconomics.com+14reddit.com+14.
- Tubing items (pipes, elbows, flanges) — US $1.6 M to Spain in 2024 .
- Other exports include radiators, fittings, screws, wire, springs, household iron goods, each ranging from tens to low hundreds of thousands USD .
🌍 3. Top Export Destinations (2023–2024)
- Norway – US $2.45 M of cast iron articles (HS 732599) in 2023 reddit.com+15wits.worldbank.org+15trendeconomy.com+15.
- Spain – US $6.41 M in total (2024), largely structural parts and tubing tradingeconomics.com.
- Additional exports to Poland, Russia, Lithuania, Finland, Estonia, Ukraine, Germany, and Sweden, typically under US $0.5 M each for cast iron goods wits.worldbank.org.
📉 4. Trends & Trade Insights
- HS 73’s share of exports: around 3% of total in late 2024 (October), with monthly export value at ~€46 M (~US $50 M) .
- Exports have dipped slightly in late 2024 (‑11.8% YoY in November; ‑14.4% in August), though showing monthly recoveries .
- Cast and fabricated iron/steel items remain the core of HS 73 export value, but growth is modest compared to higher-value manufacturing sectors.
✅ Summary Table
| Feature | Detail |
|---|---|
| 2023 HS 73 Exports | ≈ US $640.7 M (~3.2% of exports) |
| Core Products | Cast-iron articles; bridge & structural parts; tubes/pipes; fittings |
| Major Destinations | Spain (US $6.4 M), Norway (US $2.45 M), plus EU & regional partners |
| Monthly Trend (2024) | €46 M in Nov; slight YoY decline, but signs of rebound |
| Export Dynamics | Modest dip amid broader export growth; diverse product range |
🔍 Key Insights
- HS 73 products are niche but diverse, encompassing machinery parts, infrastructure components, and consumer metal items.
- Major export markets like Spain and Norway reflect demand for structural and casting segments.
- Despite minor seasonal variation, Latvia maintains consistent HS 73 exports, with broad geographic reach.
Here’s a detailed overview of Latvia’s exports in “Dairy products, eggs, honey, edible products” (HS 04) for 2024, ranked 10th among its major export categories (~US $557 M in 2024) tradingeconomics.com+5tradingeconomics.com+5tradingeconomics.com+5:
🧀 1. Export Value & Ranking
- Although HS 04 wasn’t in Latvia’s top 10 overall exports in 2024, category-level data shows strong trade volumes, with significant flows to neighbouring EU nations.
- For instance, Germany imported US $89.4 M, Estonia received US $91.2 M, and Lithuania got US $232.5 M of HS 04 goods in 2024 .
🗺️ 2. Top Destination Volumes (2024)
- 🇱🇹 Lithuania – US $232.5 M (largest single export target):
- Milk & cream (unsweetened): US $158.9 M
- Eggs in shell: US $22.3 M
- Cheese & curd: US $10.6 M
- Yogurt/kefir: US $9.4 M
- Whey-based products: US $5.5 M
- Dried egg yolks: US $4.95 M
- Butter/fats: US $0.6 M wits.worldbank.org+6tradingeconomics.com+6tradingeconomics.com+6
- 🇪🇪 Estonia – US $91.2 M:
- Milk & cream: US $33.6 M
- Cheese/curd: US $16.3 M
- Eggs (shell & yolk): US $12.2 M + US $3.5 M
- Yogurt etc.: US $11.4 M
- Butter & other dairy fats: US $6.2 M; honey: US $0.2 M reddit.com+15tradingeconomics.com+15indexbox.io+15
- 🇩🇪 Germany – US $89.4 M:
- Cheese: US $69.9 M
- Milk & cream: US $9.7 M
- Yogurt/kefir: US $4.9 M; eggs: US $1.48 M; butter/fats: US $0.55 M tradingeconomics.com
🍯 3. Honey Exports
Lower volume but steady:
- In 2023, honey exports totaled US $1.8 M (~425 t), with top recipients:
- Poland ($0.69M), UK ($0.31M), Estonia ($0.30M), Germany ($0.21M), Lithuania ($0.12M) reddit.comreddit.comwits.worldbank.org.
- In 2024, honey trade remained modest (e.g., to Estonia US $0.3M; Germany US $0.006M; Sweden US $0.0016M) wits.worldbank.org+9tradingeconomics.com+9tradingeconomics.com+9.
📈 4. Sector Trends
- Dairy production is growing: H1 2024 saw a +4.6% increase in output across milk, cream, cheese, and yogurt compared to H1 2023 stat.gov.lv.
- Eggs, butter, and yogurt also rose notably, signaling rising domestic capacity and export readiness.
✅ Overview Table
| Destination | 2024 Export Value | Top HS 04 Products |
|---|---|---|
| Lithuania | $232.5 M | Milk/cream, eggs, cheese, yogurt, whey |
| Estonia | $91.2 M | Milk/cream, cheese, eggs, yogurt, butter |
| Germany | $89.4 M | Cheese, milk/cream, yogurt, eggs |
| Netherlands | $21.1 M | Cheese, yogurt, eggs |
| Sweden | $1.6 M | Eggs, cheese, yogurt |
🔍 Key Insights
- HS 04 is a regional powerhouse, supplying primarily Lithuania, Estonia, and Germany—with dairy as the major export.
- Latvia’s dairy output is growing strongly, underpinning rising export potential.
- Honey remains a minor but steady niche export, with output peaking in 2021–22 then falling in 2023.
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