Video Game Console Price in Latvia - 2023

Video Game Console Price in Latvia (FOB) - 2023

In August 2023, the average video game console export price amounted to $135 per unit, rising by 4.3% against the previous month. Overall, the export price, however, saw a pronounced shrinkage. The growth pace was the most rapid in February 2023 when the average export price increased by 88% against the previous month. Over the period under review, the average export prices hit record highs at $354 per unit in March 2023; however, from April 2023 to August 2023, the export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Canada ($366 per unit), while the average price for exports to Slovenia ($24.2 per unit) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+8.2%), while the prices for the other major destinations experienced mixed trend patterns.

Video Game Console Price in Latvia (CIF) - 2023

In August 2023, the average video game console import price amounted to $371 per unit, picking up by 34% against the previous month. In general, the import price continues to indicate a temperate expansion. The pace of growth was the most pronounced in February 2023 an increase of 78% against the previous month. The import price peaked at $467 per unit in March 2023; however, from April 2023 to August 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was the UK ($1,303 per unit), while the price for France ($21.0 per unit) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Lithuania (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Video Game Console Exports in Latvia

In 2022, after three years of growth, there was decline in shipments abroad of video game consoles, when their volume decreased by -4.1% to 33K units. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 86% against the previous year. Over the period under review, the exports reached the peak figure at 34K units in 2021, and then declined modestly in the following year.

In value terms, video game console exports contracted to $9.3M in 2022. In general, exports, however, posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 70% against the previous year. Over the period under review, the exports reached the peak figure at $11M in 2021, and then fell in the following year.

Export of Video Game Console in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Georgia	616	1,261	1,780	3,453	77.6%
Azerbaijan	110	726	1,209	1,445	136.0%
Estonia	1,116	1,439	1,600	954	-5.1%
Lithuania	1,258	1,873	1,798	866	-11.7%
Netherlands	27.3	N/A	82.0	275	116.0%
Romania	N/A	86.0	448	270	77.2%
Russia	22.0	77.1	23.7	213	113.1%
United States	731	1,192	1,475	187	-36.5%
Malta	N/A	167	340	178	3.2%
Bulgaria	N/A	115	96.3	72.0	-20.9%
Others	628	730	2,015	1,354	29.2%
Total	4,507	7,666	10,867	9,267	27.2%

Top Export Markets for Video Game Console from Latvia in 2022:

Georgia (8.1K units)
Estonia (6.7K units)
Romania (4.6K units)
Azerbaijan (3.5K units)
Lithuania (3.2K units)
Netherlands (1.7K units)
Malta (0.8K units)
Russia (0.7K units)
Bulgaria (0.7K units)
United States (0.2K units)

Video Game Console Imports in Latvia

In 2022, the amount of video game consoles imported into Latvia dropped to 21K units, reducing by -11.4% compared with the year before. Overall, imports saw a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 41%. Imports peaked at 32K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, video game console imports declined notably to $9.3M in 2022. In general, imports showed a abrupt downturn. The growth pace was the most rapid in 2021 when imports increased by 51% against the previous year. Over the period under review, imports hit record highs at $13M in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Import of Video Game Console in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Netherlands	3,051	2.7	592	2,715	-3.8%
Poland	3,707	1,401	2,514	1,758	-22.0%
Czech Republic	266	730	961	945	52.6%
Lithuania	2,057	731	1,580	865	-25.1%
Estonia	872	609	996	581	-12.7%
Slovakia	N/A	646	1,374	531	-9.3%
Italy	850	4.6	423	258	-32.8%
Germany	934	542	638	232	-37.1%
China	14.4	54.9	166	190	136.3%
Spain	23.3	8.3	30.4	125	75.1%
United Kingdom	555	1,593	44.2	41.3	-57.9%
Others	1,046	1,054	1,813	1,015	-1.0%
Total	13,377	7,377	11,132	9,254	-11.6%