Latvia: Home Appliance Market 2020

Home Appliance Market Size in Latvia

The revenue of the home appliance market in Latvia amounted to $X in 2018, falling by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, home appliance consumption continues to indicate a deep curtailment. The pace of growth was the most pronounced in 2011 when the market value increased by X% year-to-year. Over the period under review, the home appliance market attained its peak figure level at $X in 2008; however, from 2009 to 2018, consumption failed to regain its momentum.

Home Appliance Exports

Exports from Latvia

In 2018, the amount of domestic, non-electric, cooking or heating appliances exported from Latvia amounted to X tons, going up by X% against the previous year. Overall, home appliance exports, however, continue to indicate an abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Latvia exports peaked at X tons in 2007; however, from 2008 to 2018, exports remained at a lower figure.

In value terms, home appliance exports amounted to $X in 2018. In general, home appliance exports, however, continue to indicate an abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. In that year, home appliance exports attained their peak of $X. From 2017 to 2018, the growth of home appliance exports remained at a somewhat lower figure.

Exports by Country

China prevails in home appliance exports structure, reaching X tons, which was approx. X% of total exports in 2018. It was distantly followed by Turkey (X tons), Mexico (X tons) and the U.S. (X tons), together comprising an X% share of total exports. The following exporters - Italy (X tons), Belarus (X tons), Germany (X tons) and Ecuador (X tons) - together made up X% of total exports.

Exports from China increased at an average annual rate of +X% from 2007 to 2018. At the same time, Mexico (+X%) and Turkey (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. The U.S., Belarus and Germany experienced a relatively flat trend pattern. By contrast, Ecuador (-X%) and Italy (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of China, Mexico and Turkey increased by +X%, +X% and +X% percentage points, while Italy (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest home appliance supplier from Latvia, comprising X% of global exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of global exports. It was followed by Italy, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in China amounted to +X%. In the other countries, the average annual rates were as follows: Mexico (+X% per year) and Italy (-X% per year).

Export Prices by Country

In 2018, the home appliance export price in Latvia amounted to $X per ton, dropping by -X% against the previous year. In general, the export price indicated a remarkable increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, home appliance export price decreased by -X% against 2016 indices. The most prominent rate of growth was recorded in 2016 an increase of X% y-o-y. In that year, the export prices for domestic, non-electric, cooking or heating appliances attained their peak level of $X per ton. From 2017 to 2018, the growth in terms of the export prices for domestic, non-electric, cooking or heating appliances remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Italy ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Mexico, while the other leaders experienced more modest paces of growth.

Home Appliance Imports

Imports into Latvia

In 2018, approx. X tons of domestic, non-electric, cooking or heating appliances were imported into Latvia; shrinking by -X% against the previous year. In general, home appliance imports continue to indicate an abrupt reduction. The pace of growth was the most pronounced in 2011 when imports increased by X% y-o-y. Latvia imports peaked at X tons in 2008; however, from 2009 to 2018, imports failed to regain their momentum.

In value terms, home appliance imports totaled $X in 2018. Overall, home appliance imports continue to indicate a deep descent. The growth pace was the most rapid in 2011 with an increase of X% year-to-year. Latvia imports peaked at $X in 2008; however, from 2009 to 2018, imports failed to regain their momentum.

Imports by Country

The U.S. was the major importing country with an import of about X tons, which resulted at X% of total imports. It was distantly followed by Germany (X tons), committing a X% share of total imports. The UK (X tons), France (X tons), Canada (X tons), the Netherlands (X tons), Russia (X tons), Algeria (X tons), Australia (X tons) and Saudi Arabia (X tons) occupied a minor share of total imports.

The U.S. experienced a relatively flat trend pattern of domestic, non-electric, cooking or heating appliances imports. At the same time, Algeria (+X%), Germany (+X%), the Netherlands (+X%) and Saudi Arabia (+X%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. France, the UK and Russia experienced a relatively flat trend pattern. By contrast, Canada (-X%) and Australia (-X%) illustrated a downward trend over the same period. Germany (+X p.p.) and Algeria (+X p.p.) significantly strengthened its position in terms of the global imports, while Australia saw its share reduced by -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported domestic, non-electric, cooking or heating appliances into Latvia, comprising X% of global imports. The second position in the ranking was occupied by Germany ($X), with a X% share of global imports. It was followed by Canada, with a X% share.

In the U.S., home appliance imports expanded at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Germany (+X% per year) and Canada (+X% per year).

Import Prices by Country

The home appliance import price in Latvia stood at $X per ton in 2018, surging by X% against the previous year. Over the period under review, the home appliance import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Latvia import price peaked at $X per ton in 2013; however, from 2014 to 2018, import prices failed to regain their momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Canada ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Saudi Arabia, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform