Key Market Indicators
Latvia's transformer imports are predicted to reach nearly $82 million by 2026, 2.8% higher than in 2021. According to figures since 1999, Latvian demand has grown 11.9% year on year. In 2021, the Dominican Republic overtook Latvia as the top importer, with 69.2 million USD, while China, Germany, and Mexico ranked numbers 2, 3, and 4 respectively. Latvian transformer exports are anticipated to reach $33 million by 2026, growing by 3.6% year-on-year CAGR. Since 1999, Latvian supply has increased 19.3% year on year. Kazakhstan overtook Latvia as the top exporter in 2021, with $27 million, while Germany, the United States, and Japan came in second, third, and fourth place respectively.
