Latvia: Articles Of Peat Market 2024

Articles Of Peat Market Size in Latvia

The Latvian articles of peat market expanded sharply to $X in 2022, surging by 8.9% against the previous year. In general, consumption, however, showed a perceptible setback. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Articles Of Peat Production in Latvia

In value terms, articles of peat production expanded markedly to $X in 2022 estimated in export price. Overall, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.5% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 43%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Articles Of Peat Exports

Exports from Latvia

In 2022, overseas shipments of articles of peat increased by 22% to X tons, rising for the eighth consecutive year after two years of decline. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 23,534% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, articles of peat exports surged to $X in 2022. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 8,285% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Poland (X tons) was the main destination for articles of peat exports from Latvia, with a 94% share of total exports. Moreover, articles of peat exports to Poland exceeded the volume sent to the second major destination, Lithuania (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Poland stood at +70.4%.

In value terms, Poland ($X) remains the key foreign market for articles of peat exports from Latvia, comprising 85% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland totaled +55.6%.

Export Prices by Country

In 2022, the average articles of peat export price amounted to $X per ton, jumping by 22% against the previous year. Overall, the export price, however, recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 231%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Poland stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (-8.5%).

Articles Of Peat Imports

Imports into Latvia

In 2022, the amount of articles of peat imported into Latvia soared to X tons, rising by 37% compared with the previous year. In general, imports posted a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 235% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, articles of peat imports skyrocketed to $X in 2022. Overall, imports continue to indicate prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 221%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Estonia (X tons) constituted the largest articles of peat supplier to Latvia, accounting for a 77% share of total imports. Moreover, articles of peat imports from Estonia exceeded the figures recorded by the second-largest supplier, Poland (X tons), eightfold. The third position in this ranking was held by Lithuania (X tons), with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume from Estonia amounted to +44.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+11.6% per year) and Lithuania (+13.5% per year).

In value terms, Lithuania ($X) constituted the largest supplier of articles of peat to Latvia, comprising 39% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 19% share of total imports. It was followed by Estonia, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania totaled +17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+38.8% per year) and Estonia (+44.9% per year).

Import Prices by Country

The average articles of peat import price stood at $X per ton in 2022, waning by -6.4% against the previous year. Over the period under review, the import price faced a abrupt slump. The growth pace was the most rapid in 2021 an increase of 89% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 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 Lithuania ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform