Latvia: Pasta Products Market 2024

Pasta Products Market Size in Latvia

The Latvian pasta products market was estimated at $X in 2022, approximately equating the previous year. Over the period under review, consumption, however, showed a perceptible expansion. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Pasta Products Production in Latvia

In value terms, pasta products production reduced to $X in 2022 estimated in export price. In general, production, however, showed a noticeable expansion. The most prominent rate of growth was recorded in 2019 with an increase of 93%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Pasta Products Exports

Exports from Latvia

Pasta products exports from Latvia skyrocketed to X tons in 2022, increasing by 29% compared with the year before. Over the period under review, exports, however, saw a mild reduction. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, pasta products exports surged to $X in 2022. Overall, exports showed a slight increase. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Estonia (X tons) was the main destination for pasta products exports from Latvia, accounting for a 48% share of total exports. Moreover, pasta products exports to Estonia exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. The third position in this ranking was taken by Lithuania (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Estonia stood at +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+430.9% per year) and Lithuania (-17.3% per year).

In value terms, Estonia ($X) remains the key foreign market for dried, undried and frozen pasta and pasta products exports from Latvia, comprising 54% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 15% share of total exports. It was followed by Lithuania, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia totaled +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+379.3% per year) and Lithuania (-13.2% per year).

Export Prices by Country

In 2022, the average pasta products export price amounted to $X per ton, with an increase of 16% against the previous year. In general, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pasta products export price increased by +127.9% against 2015 indices. The most prominent rate of growth was recorded in 2016 an increase of 40% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Germany ($X per ton) and Estonia ($X per ton), while the average price for exports to Sweden ($X per ton) and Finland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Pasta Products Imports

Imports into Latvia

In 2022, after four years of growth, there was significant decline in overseas purchases of dried, undried and frozen pasta and pasta products, when their volume decreased by -5.9% to X tons. In general, imports continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2020 with an increase of 13%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, pasta products imports expanded sharply to $X in 2022. Overall, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.8% 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 +92.2% against 2017 indices. The pace of growth was the most pronounced in 2020 when imports increased by 24%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest supplier of pasta products to Latvia, with a 39% share of total imports. Moreover, pasta products imports from Ukraine exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Lithuania (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Ukraine totaled -4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+1.7% per year) and Lithuania (+0.1% per year).

In value terms, Ukraine ($X) constituted the largest supplier of dried, undried and frozen pasta and pasta products to Latvia, comprising 38% of total imports. The second position in the ranking was taken by Poland ($X), with a 17% share of total imports. It was followed by Lithuania, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ukraine was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+8.9% per year) and Lithuania (+4.7% per year).

Import Prices by Country

In 2022, the average pasta products import price amounted to $X per ton, growing by 22% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2022: its price 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, pasta products import price increased by +61.4% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Estonia ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform