Latvia: Market for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike 2024

Market Size for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in Latvia

In 2022, after two years of growth, there was significant decline in the Latvian gum or wood oils market, when its value decreased by X% to $X. Overall, consumption recorded a noticeable decline. As a result, consumption reached the peak level of $X, and then reduced rapidly in the following year.

Production of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in Latvia

In value terms, gum or wood oils production contracted markedly to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable descent. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Gum or wood oils production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Exports from Latvia

In 2022, the amount of gum, wood or sulphate turpentine oils, pine oil and other alike exported from Latvia surged to X tons, rising by X% against the previous year. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, gum or wood oils exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Lithuania (X tons) was the main destination for gum or wood oils exports from Latvia, with a X% share of total exports. Moreover, gum or wood oils exports to Lithuania exceeded the volume sent to the second major destination, Poland (X kg), ninefold. Estonia (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Lithuania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and Estonia (X% per year).

In value terms, Lithuania ($X) emerged as the key foreign market for gum, wood or sulphate turpentine oils, pine oil and other alike exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Poland ($X), with an X% share of total exports. It was followed by Estonia, with a X% share.

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

Export Prices by Country

The average gum or wood oils export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price showed a deep reduction. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Poland ($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 Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Imports into Latvia

In 2022, the amount of gum, wood or sulphate turpentine oils, pine oil and other alike imported into Latvia shrank dramatically to X tons, falling by X% on the previous year. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, gum or wood oils imports declined remarkably to $X in 2022. In general, imports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Belarus (X tons) constituted the largest supplier of gum or wood oils to Latvia, accounting for a X% share of total imports. Moreover, gum or wood oils imports from Belarus exceeded the figures recorded by the second-largest supplier, Estonia (X tons), ninefold. Germany (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, Belarus ($X), Germany ($X) and Estonia ($X) constituted the largest gum or wood oils suppliers to Latvia, with a combined X% share of total imports. Spain lagged somewhat behind, accounting for a further X%.

Spain, with a CAGR of X%, saw the highest growth rate of 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

The average gum or wood oils import price stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the import price saw a mild slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform