Latvia: Dental Fitting Market 2024

Dental Fitting Market Size in Latvia

The Latvian dental fitting market expanded to $X in 2022, picking up by 4.6% against the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.4% against 2019 indices. Dental fitting consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Dental Fitting Production in Latvia

In value terms, dental fitting production reduced to $X in 2022 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +18.4% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 37% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Dental Fitting Exports

Exports from Latvia

In 2022, the amount of dental fittings exported from Latvia dropped remarkably to X kg, reducing by -64.8% against the year before. Over the period under review, exports, however, posted a remarkable increase. The growth pace was the most rapid in 2015 when exports increased by 223% against the previous year. The exports peaked at X kg in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, dental fitting exports declined notably to $X in 2022. Overall, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when exports increased by 1,198%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Estonia (X kg) was the main destination for dental fitting exports from Latvia, with a 58% share of total exports. Moreover, dental fitting exports to Estonia exceeded the volume sent to the second major destination, Georgia (X kg), threefold. Uzbekistan (X kg) ranked third in terms of total exports with a 6% share.

From 2012 to 2022, the average annual growth rate of volume to Estonia amounted to +49.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (-31.5% per year) and Uzbekistan (0.0% per year).

In value terms, the largest markets for dental fitting exported from Latvia were Georgia ($X), Estonia ($X) and Switzerland ($X), together comprising 87% of total exports.

Among the main countries of destination, Switzerland, with a CAGR of +100.2%, saw the highest rates of growth with regard to 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 dental fitting export price stood at $X per kg in 2022, growing by 19% against the previous year. In general, the export price, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when the average export price increased by 465% against the previous year. The export price peaked at $X per kg in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per kg), while the average price for exports to Uzbekistan ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+32.2%), while the prices for the other major destinations experienced a decline.

Dental Fitting Imports

Imports into Latvia

In 2022, imports of dental fittings into Latvia soared to X tons, growing by 18% on the previous year's figure. Overall, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.2% against 2017 indices. The growth pace was the most rapid in 2014 when imports increased by 69%. 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, dental fitting imports reached $X in 2022. In general, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 61%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Lithuania (X kg) and Italy (X kg) were the main suppliers of dental fitting imports to Latvia, together comprising 57% of total imports. Austria, Switzerland, South Korea, Brazil, Spain, the United States, Estonia, China, the Netherlands and Sweden lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +53.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest dental fitting suppliers to Latvia were Switzerland ($X), Germany ($X) and the United States ($X), with a combined 65% share of total imports. Austria, Brazil, Lithuania, South Korea, Estonia, Italy, Spain, the Netherlands, China and Sweden lagged somewhat behind, together accounting for a further 30%.

China, with a CAGR of +69.3%, 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 dental fitting import price stood at $X per ton in 2022, shrinking by -10.4% against the previous year. Over the period under review, the import price, however, posted a prominent increase. The growth pace was the most rapid in 2015 when the average import price increased by 116% against the previous year. The import price peaked at $X per ton in 2021, and then declined in the following year.

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 Switzerland ($X per ton), while the price for Italy ($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 (+35.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform