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Yes. Consider two identical charged particles moving past each other in their CM frame. Their magnetic interaction force is smaller than the electric by a ratio of (v/c)2 where v is their relative speed.Nugatory said:The drift velocity is indeed very small, but remarkably the relativistic effects are still significant - Purcell's first year E&M textbook uses them to derive the velocity-dependent transformation betwen electrical and magnetic fields around a current-carrying wire. Neglecting these effects may introduce errors of the same magnitude as the magnetic field itself.
In a wire we have eliminated the strongest electric interaction because the conductor is not charged.
It is therefore not surprising the leading order correction to the electric field and the magnetic field itself are of equivalent magnitude.