Latvia: Resistor Market 2024

Resistor Market Size in Latvia

The Latvian resistor market declined to $X in 2022, reducing 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). Overall, consumption, however, enjoyed a remarkable increase. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Resistor Exports

Exports from Latvia

Resistor exports from Latvia surged to X units in 2022, increasing by X% compared with 2021. Overall, exports saw a resilient increase. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, resistor exports fell notably to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X units), Germany (X units) and Lithuania (X units) were the main destinations of resistor exports from Latvia, together accounting for X% of total exports. Hong Kong SAR, Georgia, the UK, the Netherlands, Estonia and Uzbekistan lagged somewhat behind, together accounting for a further X%.

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

In value terms, Russia ($X) remains the key foreign market for electrical resistors (except heating resistors) exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total exports. It was followed by Georgia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Georgia (X% per year).

Export Prices by Country

The average resistor export price stood at $X per unit in 2022, dropping by X% against the previous year. Over the period under review, the export price recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to the UK (less than $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 Georgia (X%), while the prices for the other major destinations experienced a decline.

Resistor Imports

Imports into Latvia

For the fourth year in a row, Latvia recorded decline in supplies from abroad of electrical resistors (except heating resistors), which decreased by X% to X units in 2022. Over the period under review, imports, however, recorded a mild increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, resistor imports reduced to $X in 2022. Overall, imports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Germany (X units) constituted the largest resistor supplier to Latvia, with a X% share of total imports. Moreover, resistor imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), more than tenfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Germany ($X) constituted the largest supplier of electrical resistors (except heating resistors) to Latvia, comprising X% of total imports. The second position in the ranking was held by Estonia ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (X% per year) and France (X% per year).

Import Prices by Country

The average resistor import price stood at $X per thousand units in 2022, growing by X% against the previous year. Over the period under review, the import price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady 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 ($X per thousand units), while the price for Norway ($X per thousand units) was amongst the lowest.

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

Source: IndexBox Platform