Latvia: Carpet Market 2024

Carpet Market Size in Latvia

The Latvian carpet market reached $X in 2022, increasing by X% against the previous year. In general, consumption, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2020 when the market value increased by X%. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Carpet Production in Latvia

In value terms, carpet production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a deep setback. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Carpet production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Carpet Exports

Exports from Latvia

In 2022, shipments abroad of carpets and other textile floor coverings decreased by X% to X square meters for the first time since 2015, thus ending a six-year rising trend. In general, exports, however, recorded a remarkable increase. The growth pace was the most rapid in 2013 with an increase of X%. The exports peaked at X square meters in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, carpet exports expanded significantly to $X in 2022. Overall, exports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Lithuania (X square meters), Estonia (X square meters) and Russia (X square meters) were the main destinations of carpet exports from Latvia, together comprising X% of total exports.

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

In value terms, the largest markets for carpet exported from Latvia were Lithuania ($X), Estonia ($X) and Russia ($X), together accounting for X% of total exports. Belarus lagged somewhat behind, accounting for a further X%.

Among the main countries of destination, Belarus, with a CAGR of X%, recorded 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 carpet export price stood at $X per square meter in 2022, with an increase of X% against the previous year. Overall, the export price, however, showed a noticeable reduction. The pace of growth was the most pronounced in 2020 when the average export price increased by X%. The export price peaked at $X per square meter in 2012; however, from 2013 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 ($X per square meter), while the average price for exports to Lithuania ($X per square meter) was amongst the lowest.

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

Carpet Imports

Imports into Latvia

Carpet imports into Latvia rose markedly to X square meters in 2022, picking up by X% on the previous year's figure. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X square meters in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, carpet imports expanded slightly to $X in 2022. Overall, imports, however, recorded a pronounced shrinkage. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X square meters), Poland (X square meters) and the Netherlands (X square meters) were the main suppliers of carpet imports to Latvia, with a combined X% share of total imports.

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 X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Poland ($X) and Germany ($X) appeared to be the largest carpet suppliers to Latvia, with a combined X% share of total imports.

Poland, with a CAGR of X%, recorded 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 carpet import price stood at $X per square meter in 2022, shrinking by X% against the previous year. In general, the import price saw a noticeable downturn. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. The import price peaked at $X per square meter in 2014; however, from 2015 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 Germany ($X per square meter), while the price for the Netherlands ($X per square meter) was amongst the lowest.

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

Source: IndexBox Platform