Latvia: First-Aid Kit Market 2024

First-Aid Kit Market Size in Latvia

The Latvian first-aid kit market rose notably to $X in 2022, surging by 7.9% against the previous year. Over the period under review, consumption, however, saw a perceptible reduction. First-aid kit consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

First-Aid Kit Production in Latvia

In value terms, first-aid kit production reached $X in 2022 estimated in export price. Over the period under review, production, however, showed a deep setback. The pace of growth was the most pronounced in 2016 when the production volume increased by 24%. First-aid kit production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

First-Aid Kit Exports

Exports from Latvia

In 2022, overseas shipments of first-aid boxes and kits increased by 1.4% to X tons, rising for the fourth consecutive year after two years of decline. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 707%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, first-aid kit exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 519%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Lithuania (X tons), Estonia (X tons) and Ukraine (X kg) were the main destinations of first-aid kit exports from Latvia, together accounting for 92% of total exports. Canada and the UK lagged somewhat behind, together accounting for a further 5.1%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +357.9%), while the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), Lithuania ($X) and Estonia ($X) were the largest markets for first-aid kit exported from Latvia worldwide, together accounting for 81% of total exports. The UK and Canada lagged somewhat behind, together comprising a further 8.5%.

The UK, with a CAGR of +1,168.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average first-aid kit export price stood at $X per ton in 2022, growing by 58% against the previous year. Overall, the export price showed a remarkable increase. The growth pace was the most rapid in 2017 an increase of 154% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Estonia ($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 the UK (+177.1%), while the prices for the other major destinations experienced mixed trend patterns.

First-Aid Kit Imports

Imports into Latvia

First-aid kit imports into Latvia skyrocketed to X tons in 2022, rising by 16% on the year before. Over the period under review, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 141% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, first-aid kit imports surged to $X in 2022. In general, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 93%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Lithuania (X tons), Poland (X tons) and Turkey (X tons) were the main suppliers of first-aid kit imports to Latvia, with a combined 61% share of total imports. Portugal, China, Germany, Estonia and Sweden lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +76.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest first-aid kit suppliers to Latvia were Lithuania ($X), Poland ($X) and Estonia ($X), with a combined 57% share of total imports. Turkey, Germany, Portugal, China and Sweden lagged somewhat behind, together accounting for a further 28%.

Portugal, with a CAGR of +55.4%, 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 first-aid kit import price amounted to $X per ton, increasing by 16% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, first-aid kit import price increased by +14.6% against 2017 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 31%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Estonia ($X per ton), while the price for Portugal ($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 (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform