Latvia: Combine Harvester Market 2025

Combine Harvester Market Size in Latvia

In 2022, the Latvian combine harvester market increased by 34% to $X, rising for the second consecutive year after two years of decline. Overall, consumption recorded a temperate increase. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in years to come.

Combine Harvester Exports

Exports from Latvia

In 2022, the amount of combine harvester-threshers exported from Latvia skyrocketed to X units, picking up by 142% compared with the previous year. Overall, exports posted a prominent expansion. The pace of growth was the most pronounced in 2019 when exports increased by 333%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, combine harvester exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2019 when exports increased by 186%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lithuania (X units), Ukraine (X units) and Norway (X units) were the main destinations of combine harvester exports from Latvia, together comprising 72% of total exports.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +35.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) remains the key foreign market for combine harvester-threshers exports from Latvia, comprising 70% of total exports. The second position in the ranking was held by Ukraine ($X), with a 15% share of total exports. It was followed by Norway, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Lithuania amounted to +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+14.4% per year) and Norway (+108.1% per year).

Export Prices by Country

The average combine harvester export price stood at $X per unit in 2022, picking up by 11% against the previous year. In general, the export price, however, saw a slight setback. The growth pace was the most rapid in 2016 when the average export price increased by 71%. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per unit), while the average price for exports to Pakistan ($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 Norway (+53.3%), while the prices for the other major destinations experienced more modest paces of growth.

Combine Harvester Imports

Imports into Latvia

In 2022, supplies from abroad of combine harvester-threshers increased by 61% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports recorded a noticeable expansion. The most prominent rate of growth was recorded in 2021 with an increase of 124%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, combine harvester imports surged to $X in 2022. Overall, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2021 with an increase of 155%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany (X units), Lithuania (X units) and Sweden (X units) were the main suppliers of combine harvester imports to Latvia, with a combined 70% share of total imports. Poland, Estonia, Denmark and Finland lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +40.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Lithuania ($X) and Finland ($X) appeared to be the largest combine harvester suppliers to Latvia, with a combined 89% share of total imports. Estonia, Sweden, Poland and Denmark lagged somewhat behind, together accounting for a further 7.8%.

In terms of the main suppliers, Poland, with a CAGR of +64.4%, recorded the highest growth rate of 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

In 2022, the average combine harvester import price amounted to $X per unit, waning by -18.5% against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average import price increased by 57%. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform