Report Update Feb 1, 2025

Latvia - Copper - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Copper Market 2025

Copper Market Size in Latvia

The Latvian copper market was finally on the rise to reach $X in 2022, after four years of decline. Overall, consumption, however, faced a sharp reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Copper Production in Latvia

In value terms, copper production stood at $X in 2022 estimated in export price. In general, production showed a sharp reduction. The most prominent rate of growth was recorded in 2015 with a decrease of 99.9% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Copper Exports

Exports from Latvia

In 2020, overseas shipments of copper decreased by -76.4% to X kg, falling for the second consecutive year after three years of growth. Overall, exports showed a precipitous decline. The most prominent rate of growth was recorded in 2017 with an increase of 1,218%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2020, the exports remained at a lower figure.

In value terms, copper exports rose to $X in 2020. In general, exports recorded a dramatic descent. The pace of growth appeared the most rapid in 2017 when exports increased by 1,478% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2020, the exports failed to regain momentum.

Exports by Country

Kazakhstan (X kg) was the main destination for copper exports from Latvia, with a approx. 100% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of volume to Kazakhstan was relatively modest.

From 2012 to 2020, the average annual rate of growth in terms of value to Kazakhstan was relatively modest.

Export Prices by Country

The average copper export price stood at $X per ton in 2020, surging by 331% against the previous year. Overall, the export price showed strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Kazakhstan.

From 2012 to 2020, the rate of growth in terms of prices for Lithuania amounted to -1.4% per year.

Copper Imports

Imports into Latvia

In 2022, overseas purchases of copper were finally on the rise to reach X tons after two years of decline. Overall, imports, however, continue to indicate a sharp decrease. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, copper imports soared to $X in 2022. In general, imports, however, saw a precipitous shrinkage. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of copper to Latvia, with a 82% share of total imports. Moreover, copper imports from Poland exceeded the figures recorded by the second-largest supplier, Estonia (X kg), more than tenfold. Spain (X kg) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland amounted to +70.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (-37.0% per year) and Spain (0.0% per year).

In value terms, Poland ($X) constituted the largest supplier of copper to Latvia, comprising 83% of total imports. The second position in the ranking was held by Spain ($X), with an 8.4% share of total imports. It was followed by Estonia, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value from Poland amounted to +105.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (0.0% per year) and Estonia (-38.6% per year).

Import Prices by Country

In 2022, the average copper import price amounted to $X per ton, which is down by -35.2% against the previous year. Over the period under review, the import price, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 an increase of 466%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+40.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the copper market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24441200 - Unrefined copper, copper anodes for electrolytic refining (including blister copper) (excluding electrocopper-plating, e lectroplating anodes)

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024