Latvia: Domestic Electro-Thermic Appliances Market 2024

Domestic Electro-Thermic Appliances Market Size in Latvia

For the third consecutive year, the Latvian domestic electro-thermic appliances market recorded growth in sales value, which increased by X% to $X in 2022. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2015 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in years to come.

Domestic Electro-Thermic Appliances Exports

Exports from Latvia

In 2022, after six years of growth, there was decline in overseas shipments of domestic electro-thermic appliances, when their volume decreased by X% to X units. Overall, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2021, and then shrank in the following year.

In value terms, domestic electro-thermic appliances exports rose notably to $X in 2022. Over the period under review, exports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Estonia (X units), Lithuania (X units) and Germany (X units) were the main destinations of domestic electro-thermic appliances exports from Latvia, with a combined X% share of total exports. Russia, Poland and Moldova lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Moldova (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for domestic electro-thermic appliances exported from Latvia were Lithuania ($X), Estonia ($X) and Russia ($X), with a combined X% share of total exports. Germany, Poland and Moldova lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Moldova, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average domestic electro-thermic appliances export price stood at $X per unit in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 an increase of X%. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Estonia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Electro-Thermic Appliances Imports

Imports into Latvia

For the third consecutive year, Latvia recorded growth in purchases abroad of domestic electro-thermic appliances, which increased by X% to X units in 2022. Over the period under review, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, domestic electro-thermic appliances imports rose rapidly to $X in 2022. In general, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Lithuania (X units), Poland (X units) and China (X units) were the main suppliers of domestic electro-thermic appliances imports to Latvia, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest domestic electro-thermic appliances suppliers to Latvia were Lithuania ($X), Poland ($X) and Estonia ($X), with a combined X% share of total imports.

Lithuania, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average domestic electro-thermic appliances import price stood at $X per unit in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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