Latvia: Market for Electric Shavers, Hair-Removing Appliances And Hair Clippers 2024

Market Size for Electric Shavers, Hair-Removing Appliances And Hair Clippers in Latvia

The Latvian market for electric shavers, hair-removing appliances and hair clippers rose markedly to $X in 2022, picking up by 6% 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, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +19.8% against 2018 indices. Consumption of peaked in 2022 and is expected to retain growth in the near future.

Exports of Electric Shavers, Hair-Removing Appliances And Hair Clippers

Exports from Latvia

In 2022, exports of electric shavers, hair-removing appliances and hair clippers from Latvia expanded modestly to X units, with an increase of 3.8% against 2021. In general, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 110%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, exports of electric shavers, hair-removing appliances and hair clippers skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by 94%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Lithuania (X units), Estonia (X units) and Russia (X units) were the main destinations of exports of electric shavers, hair-removing appliances and hair clippers from Latvia, together accounting for 87% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +124.3%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) remains the key foreign market for electric shavers, hair-removing appliances and hair clippers exports from Latvia, comprising 50% of total exports. The second position in the ranking was held by Estonia ($X), with a 24% share of total exports. It was followed by Moldova, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Lithuania amounted to +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+4.1% per year) and Moldova (+21.0% per year).

Export Prices by Country

In 2022, the average export price for electric shavers, hair-removing appliances and hair clippers amounted to $X per unit, with an increase of 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 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 Moldova ($X per unit), while the average price for exports to Estonia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+6.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Electric Shavers, Hair-Removing Appliances And Hair Clippers

Imports into Latvia

In 2022, approx. X units of electric shavers, hair-removing appliances and hair clippers were imported into Latvia; surging by 11% compared with 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 +6.4% 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 +83.7% against 2015 indices. The pace of growth was the most pronounced in 2018 with an increase of 25%. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of electric shavers, hair-removing appliances and hair clippers declined slightly to $X in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +84.4% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 31%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Hungary (X units), Germany (X units) and Lithuania (X units) were the main suppliers of imports of electric shavers, hair-removing appliances and hair clippers to Latvia, with a combined 60% share of total imports. Estonia, Poland, China, Romania and the Netherlands lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +18,987.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electric shavers, hair-removing appliances and hair clippers suppliers to Latvia were Estonia ($X), Hungary ($X) and Lithuania ($X), with a combined 78% share of total imports. Germany, Poland, China, Romania and the Netherlands lagged somewhat behind, together accounting for a further 19%.

Romania, with a CAGR of +23,687.5%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 import price for electric shavers, hair-removing appliances and hair clippers stood at $X per unit in 2022, waning by -9.8% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 16% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

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 ($X per unit), while the price for Romania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+24.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform