Latvia: Fig Market 2025

Fig Market Size in Latvia

The Latvian fig market shrank rapidly to $X in 2022, waning by -16.2% 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). Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2021, and then reduced dramatically in the following year.

Fig Exports

Exports from Latvia

After four years of growth, shipments abroad of figs decreased by -0.5% to X tons in 2022. Overall, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 112% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, fig exports declined dramatically to $X in 2022. In general, exports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2013 when exports increased by 121%. The exports peaked at $X in 2021, and then shrank sharply in the following year.

Exports by Country

Lithuania (X tons) and Estonia (X tons) were the main destinations of fig exports from Latvia.

From 2012 to 2022, the biggest increases were recorded for Estonia (with a CAGR of +17.8%).

In value terms, Lithuania ($X) and Estonia ($X) constituted the largest markets for fig exported from Latvia worldwide.

Lithuania, with a CAGR of +21.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average fig export price stood at $X per ton in 2022, falling by -25.1% against the previous year. In general, the export price, however, continues to indicate notable growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by 78%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Lithuania totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+6.2%), while the prices for the other major destinations experienced mixed trend patterns.

Fig Imports

Imports into Latvia

In 2022, approx. X tons of figs were imported into Latvia; waning by -3.1% against 2021. In general, total imports indicated a notable increase from 2012 to 2022: its volume 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, imports increased by +106.4% against 2016 indices. The pace of growth was the most pronounced in 2019 when imports increased by 66%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, fig imports dropped sharply to $X in 2022. Overall, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +51.5% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 45%. Over the period under review, imports attained the maximum at $X in 2021, and then fell remarkably in the following year.

Imports by Country

In 2022, Turkey (X tons) constituted the largest fig supplier to Latvia, accounting for a 62% share of total imports. Moreover, fig imports from Turkey exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. The third position in this ranking was taken by Germany (X tons), with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+4.4% per year) and Germany (+14.2% per year).

In value terms, Turkey ($X), the Netherlands ($X) and Germany ($X) constituted the largest fig suppliers to Latvia, together comprising 75% of total imports. Sweden, Belgium, Spain and Lithuania lagged somewhat behind, together accounting for a further 24%.

In terms of the main suppliers, Spain, with a CAGR of +36.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fig import price stood at $X per ton in 2022, declining by -20.8% against the previous year. Overall, import price indicated noticeable 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, fig import price decreased by -13.8% against 2019 indices. The pace of growth was the most pronounced in 2015 an increase of 30%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat 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 Belgium ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform