Latvia: Market for Special-Purpose Electric Lamps and Lighting Fittings 2024

Market Size for Special-Purpose Electric Lamps and Lighting Fittings in Latvia

The Latvian market for special-purpose electric lamps and lighting fittings totaled $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Production of Special-Purpose Electric Lamps and Lighting Fittings in Latvia

In value terms, production of special-purpose electric lamps and lighting fittings amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production of hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Exports of Special-Purpose Electric Lamps and Lighting Fittings

Exports from Latvia

In 2022, after six years of growth, there was decline in shipments abroad of special-purpose electric lamps and lighting fittings, when their volume decreased by X% to X units. Overall, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X units, and then reduced in the following year.

In value terms, exports of special-purpose electric lamps and lighting fittings contracted rapidly to $X in 2022. In general, exports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then shrank sharply in the following year.

Exports by Country

Estonia (X units), Sweden (X units) and Lithuania (X units) were the main destinations of exports of special-purpose electric lamps and lighting fittings from Latvia, with a combined X% share of total exports.

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

In value terms, Sweden ($X), Estonia ($X) and Lithuania ($X) were the largest markets for special-purpose electric lamp and lighting fitting exported from Latvia worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, Sweden, 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

In 2022, the average export price for special-purpose electric lamps and lighting fittings amounted to $X per unit, dropping by X% against the previous year. In general, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per unit), while the average price for exports to Estonia ($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 the Netherlands (X%), while the prices for the other major destinations experienced a decline.

Imports of Special-Purpose Electric Lamps and Lighting Fittings

Imports into Latvia

After three years of growth, purchases abroad of special-purpose electric lamps and lighting fittings decreased by X% to X units in 2022. Overall, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X units, and then dropped in the following year.

In value terms, imports of special-purpose electric lamps and lighting fittings contracted to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

China (X units), Poland (X units) and Estonia (X units) were the main suppliers of imports of special-purpose electric lamps and lighting fittings to Latvia, together comprising X% of total imports. Lithuania, Italy, the Netherlands, France, Germany, Finland, Hungary, Bulgaria, Denmark and Slovakia lagged somewhat behind, together accounting for a further X%.

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

In value terms, China ($X), Poland ($X) and Estonia ($X) appeared to be the largest special-purpose electric lamp and lighting fitting suppliers to Latvia, together comprising X% of total imports. Lithuania, Germany, Italy, France, the Netherlands, Finland, Denmark, Hungary, Bulgaria and Slovakia lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2022, the average import price for special-purpose electric lamps and lighting fittings amounted to $X per unit, declining by X% against the previous year. In general, the import price recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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