Latvia: Non-Alloy Steel H-Sections Market 2025

Non-Alloy Steel H-Sections Market Size in Latvia

After four years of growth, the Latvian non-alloy steel h-sections market decreased by -3.2% to $X in 2022. Over the period under review, consumption, however, posted strong growth. Non-alloy steel h-sections consumption peaked at $X in 2021, and then fell in the following year.

Non-Alloy Steel H-Sections Exports

Exports from Latvia

In 2022, overseas shipments of h-sections of of non-alloy steel increased by 205% to X tons, rising for the third year in a row after two years of decline. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 1,444%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, non-alloy steel h-sections exports surged to $X in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,167% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Estonia (X tons) was the main destination for non-alloy steel h-sections exports from Latvia, accounting for a 78% share of total exports. Moreover, non-alloy steel h-sections exports to Estonia exceeded the volume sent to the second major destination, Lithuania (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia stood at +54.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+49.2% per year) and Belarus (-14.1% per year).

In value terms, Estonia ($X) remains the key foreign market for h-sections of of non-alloy steel exports from Latvia, comprising 80% of total exports. The second position in the ranking was held by Lithuania ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Estonia totaled +60.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+52.7% per year) and Belarus (-8.7% per year).

Export Prices by Country

In 2022, the average non-alloy steel h-sections export price amounted to $X per ton, picking up by 27% against the previous year. Overall, the export price posted a perceptible expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 68% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Lithuania ($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 Belarus (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Alloy Steel H-Sections Imports

Imports into Latvia

Non-alloy steel h-sections imports into Latvia skyrocketed to X tons in 2022, rising by 16% compared with the previous year's figure. In general, imports showed buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 67% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, non-alloy steel h-sections imports surged to $X in 2022. Over the period under review, imports posted a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of 54%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Lithuania (X tons) and Poland (X tons) were the main suppliers of non-alloy steel h-sections imports to Latvia, with a combined 86% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +27.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Lithuania ($X) and Poland ($X) constituted the largest non-alloy steel h-sections suppliers to Latvia, together comprising 83% of total imports.

In terms of the main suppliers, Lithuania, with a CAGR of +34.2%, recorded 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

In 2022, the average non-alloy steel h-sections import price amounted to $X per ton, rising by 23% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel h-sections import price increased by +91.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 56% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform