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Exports In 2022, Latvia exported $843M in Electricity, making it the 30th largest exporter of Electricity in the world. At the same year, Electricity was the 4th most exported product in Latvia. The main destination of Electricity exports from Latvia are: Lithuania ($814M), Estonia ($18.1M), and Russia ($11.3M).

The fastest growing export markets for Electricity of Latvia between 2021 and 2022 were Lithuania ($411M) and Russia ($3.8M).

Imports In 2022, Latvia imported $1.47B in Electricity, becoming the 25th largest importer of Electricity in the world. At the same year, Electricity was the 3rd most imported product in Latvia. Latvia imports Electricity primarily from: Estonia ($1.13B), Russia ($254M), Lithuania ($92.4M), and Uzbekistan ($1.07k).

The fastest growing import markets in Electricity for Latvia between 2021 and 2022 were Estonia ($720M), Russia ($99.5M), and Uzbekistan ($87).

Latest Trends

Sep 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 Electricity. 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)$843M
IMPORTS (2022)$1.47B
NET TRADE (2022)-$629M

In 2022, Latvia exported $843M in Electricity. The main destinations of Latvia exports on Electricity were Lithuania ($814M), Estonia ($18.1M), and Russia ($11.3M).

In 2022, Latvia imported $1.47B in Electricity, mainly from Estonia ($1.13B), Russia ($254M), Lithuania ($92.4M), and Uzbekistan ($1.07k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electricity EXPORT MARKETS FOR Latvia WERE (2021 - 2022):
Lithuania$411M (102%)
Russia$3.8M (50.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electricity BY Latvia WERE (2021 - 2022):Estonia-$1.26M (-6.51%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Latvia's main exporting competitors in Electricity were:
In 2022, Latvia's main importing competitors in Electricity were:
France $14.6B
Germany $12.9B
Italy $11.9B

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Trade Value of Electricity by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALRussia+ $5.58M
TOP IMPORT POTENTIALGermany+ $5.98k

Electricity’s highest export potential is Russia. With an export gap of $5.58M.   Electricity’s highest import potential is Germany with an import gap of $5.98k.

See methodology.

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