Latvia: Book Cover Market 2024

Book Cover Market Size in Latvia

The Latvian book cover market contracted markedly to $X in 2022, falling by -42.3% against the previous year. Overall, consumption showed a significant contraction. Book cover consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Book Cover Production in Latvia

In value terms, book cover production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a sharp decrease. The pace of growth appeared the most rapid in 2019 when the production volume increased by 79% against the previous year. Book cover production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Book Cover Exports

Exports from Latvia

In 2022, book cover exports from Latvia soared to X tons, rising by 128% against the previous year. Over the period under review, exports, however, faced a deep setback. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, book cover exports surged to $X in 2022. In general, exports, however, continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of 55%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lithuania (X tons) was the main destination for book cover exports from Latvia, accounting for a 72% share of total exports. Moreover, book cover exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X tons), fourfold. Romania (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume to Lithuania amounted to +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-18.3% per year) and Romania (+16.6% per year).

In value terms, the largest markets for book cover exported from Latvia were Lithuania ($X), Estonia ($X) and Romania ($X), with a combined 91% share of total exports.

Romania, with a CAGR of +12.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average book cover export price stood at $X per ton in 2022, which is down by -36.1% against the previous year. Over the period under review, the export price continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2014 an increase of 38% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Lithuania ($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 Sweden (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Book Cover Imports

Imports into Latvia

In 2022, approx. X tons of blotting pads and book covers were imported into Latvia; which is down by -26.2% on the year before. In general, imports saw a noticeable decrease. The pace of growth was the most pronounced in 2017 when imports increased by 81%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, book cover imports expanded remarkably to $X in 2022. Over the period under review, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 115%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest book cover supplier to Latvia, accounting for a 44% share of total imports. Moreover, book cover imports from Lithuania exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. The third position in this ranking was taken by Russia (X tons), with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume from Lithuania totaled +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+148.0% per year) and Russia (+39.0% per year).

In value terms, Lithuania ($X) constituted the largest supplier of blotting pads and book covers to Latvia, comprising 45% of total imports. The second position in the ranking was held by Turkey ($X), with a 21% share of total imports. It was followed by Germany, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania amounted to +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+141.1% per year) and Germany (+21.5% per year).

Import Prices by Country

The average book cover import price stood at $X per ton in 2022, increasing by 44% against the previous year. Overall, the import price, however, faced a abrupt setback. The import price peaked at $X per ton 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 Estonia ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform