Latvia: Base Metal Hook Market 2025

Base Metal Hook Market Size in Latvia

After three years of decline, the Latvian base metal hook market increased by 23% to $X in 2022. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Base Metal Hook Production in Latvia

In value terms, base metal hook production declined to $X in 2022 estimated in export price. Overall, production showed a slight reduction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 28% against the previous year. Base metal hook production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Base Metal Hook Exports

Exports from Latvia

In 2022, exports of base metal hooks, eyes and eyelets from Latvia shrank markedly to X tons, reducing by -60.3% against the previous year. In general, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 105%. As a result, the exports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, base metal hook exports contracted markedly to $X in 2022. Over the period under review, exports recorded a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of 58% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X tons), Belarus (X tons) and Ukraine (X tons) were the main destinations of base metal hook exports from Latvia, together accounting for 82% of total exports. Lithuania, Estonia, Moldova and Poland lagged somewhat behind, together accounting for a further 15%.

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 +23.3%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Belarus ($X) and Ukraine ($X) appeared to be the largest markets for base metal hook exported from Latvia worldwide, with a combined 88% share of total exports. Estonia, Lithuania, Moldova and Poland lagged somewhat behind, together comprising a further 11%.

Among the main countries of destination, Moldova, with a CAGR of +20.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average base metal hook export price amounted to $X per ton, increasing by 59% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Hook Imports

Imports into Latvia

After two years of growth, supplies from abroad of base metal hooks, eyes and eyelets decreased by -54.2% to X tons in 2022. Overall, imports, however, saw a modest increase. The pace of growth appeared the most rapid in 2021 when imports increased by 147%. As a result, imports reached the peak of X tons, and then declined significantly in the following year.

In value terms, base metal hook imports shrank significantly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 82%. As a result, imports reached the peak of $X, and then declined dramatically in the following year.

Imports by Country

Italy (X tons), China (X tons) and Sweden (X tons) were the main suppliers of base metal hook imports to Latvia, together comprising 51% of total imports. Germany, Poland, Estonia, Mexico and Turkey lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +12.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Poland ($X) constituted the largest base metal hook suppliers to Latvia, with a combined 41% share of total imports. Sweden, Italy, Mexico, Estonia and Turkey lagged somewhat behind, together comprising a further 33%.

In terms of the main suppliers, Italy, with a CAGR of +13.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2022, picking up by 35% against the previous year. In general, the import price, however, showed a mild descent. The most prominent rate of growth was recorded in 2016 an increase of 90%. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform