Latvia: Ether Market 2024

Ether Market Size in Latvia

The Latvian ether market contracted slightly to $X in 2022, with a decrease of -4.7% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Ether consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Ether Production in Latvia

In value terms, ether production shrank modestly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 70% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Ether Exports

Exports from Latvia

Ether exports from Latvia dropped slightly to X tons in 2022, which is down by -3.6% on 2021 figures. In general, exports, however, continue to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 134%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, ether exports shrank modestly to $X in 2022. Over the period under review, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 117% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lithuania (X tons), Estonia (X tons) and Kazakhstan (X tons) were the main destinations of ether exports from Latvia, together accounting for 61% of total exports. Finland, Ukraine, the United States, Belarus and Poland lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of +262.9%), while the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Kazakhstan ($X) and Finland ($X) constituted the largest markets for ether exported from Latvia worldwide, together accounting for 56% of total exports.

Among the main countries of destination, Finland, with a CAGR of +222.8%, recorded the highest growth rate of 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

In 2022, the average ether export price amounted to $X per ton, stabilizing at the previous year. In general, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ether export price increased by +59.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 63% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+29.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ether Imports

Imports into Latvia

In 2022, purchases abroad of ethers decreased by -13.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, posted resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 34%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, ether imports contracted to $X in 2022. In general, imports, however, saw resilient growth. The pace of growth was the most pronounced in 2021 when imports increased by 59%. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and the Czech Republic (X tons) were the main suppliers of ether imports to Latvia, together comprising 70% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +62.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the Czech Republic ($X) and Belgium ($X) appeared to be the largest ether suppliers to Latvia, with a combined 60% share of total imports.

The Czech Republic, with a CAGR of +54.1%, saw the highest rates of growth with regard to 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

In 2022, the average ether import price amounted to $X per ton, with an increase of 5.2% against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ether import price increased by +52.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 45% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

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 Lithuania ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform