Latvia: Construction Sands Market 2024

Construction Sands Market Size in Latvia

The Latvian construction sands market rose remarkably to $X in 2022, growing by 5.9% against the previous year. In general, consumption, however, saw strong growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Construction Sands Production in Latvia

In value terms, construction sands production expanded significantly to $X in 2022 estimated in export price. Overall, production, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 69%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Construction Sands Exports

Exports from Latvia

In 2022, after two years of growth, there was significant decline in overseas shipments of construction sands, when their volume decreased by -33.8% to X tons. In general, exports, however, saw a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 17,378% against the previous year. The exports peaked at X tons in 2021, and then shrank markedly in the following year.

In value terms, construction sands exports soared to $X in 2022. Over the period under review, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 340%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

Lithuania (X tons), Estonia (X tons) and Finland (X tons) were the main destinations of construction sands exports from Latvia, together accounting for 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +136.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) remains the key foreign market for construction sands exports from Latvia, comprising 49% of total exports. The second position in the ranking was taken by Estonia ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Lithuania stood at +61.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+36.1% per year) and Finland (+13.6% per year).

Export Prices by Country

The average construction sands export price stood at $X per ton in 2022, with an increase of 137% against the previous year. Overall, the export price, however, continues to indicate a sharp setback. The pace of growth was the most pronounced in 2014 when the average export price increased by 1,822% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the 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 ($X per ton), while the average price for exports to Estonia ($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 Estonia (+1.2%), while the prices for the other major destinations experienced a decline.

Construction Sands Imports

Imports into Latvia

In 2022, the amount of construction sands imported into Latvia contracted to X tons, which is down by -14.5% against 2021 figures. In general, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by 2,096%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, construction sands imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 84% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

Lithuania (X tons), the Czech Republic (X tons) and Denmark (X tons) were the main suppliers of construction sands imports to Latvia, with a combined 58% share of total imports. Estonia, Austria, Slovakia and Sweden lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +150.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest construction sands suppliers to Latvia were Lithuania ($X), the Czech Republic ($X) and Estonia ($X), together accounting for 70% of total imports. Austria, Denmark, Slovakia and Sweden lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, Austria, with a CAGR of +225.0%, recorded 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 construction sands import price stood at $X per ton in 2022, surging by 41% against the previous year. Over the period under review, the import price, however, showed a perceptible decline. The growth pace was the most rapid in 2015 an increase of 431%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 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 Austria ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+30.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform