Latvia: Non-Electric Motor Handtools Market 2025

Non-Electric Motor Handtools Market Size in Latvia

In 2022, after two years of decline, there was significant growth in the Latvian non-electric motor handtools market, when its value increased by 947% to $X. In general, consumption, however, saw a drastic downturn. Non-electric motor handtools consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Non-Electric Motor Handtools Production in Latvia

In value terms, non-electric motor handtools production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 32%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Non-Electric Motor Handtools Exports

Exports from Latvia

In 2022, overseas shipments of handtools, hydraulic or with a self-contained non-electric motor decreased by -33.6% to X units for the first time since 2016, thus ending a five-year rising trend. Over the period under review, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 73%. The exports peaked at X units in 2021, and then reduced dramatically in the following year.

In value terms, non-electric motor handtools exports shrank sharply to $X in 2022. Overall, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2018 when exports increased by 90% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Lithuania (X units), Sweden (X units) and France (X units) were the main destinations of non-electric motor handtools exports from Latvia, with a combined 49% share of total exports. Germany, the Czech Republic, Italy, Estonia and Russia lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +193.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-electric motor handtools exported from Latvia were Lithuania ($X), Sweden ($X) and France ($X), together accounting for 49% of total exports. Germany, the Czech Republic, Italy, Estonia and Russia lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, the Czech Republic, with a CAGR of +182.3%, recorded the highest rates of growth with regard to 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

The average non-electric motor handtools export price stood at $X per unit in 2022, rising by 20% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-electric motor handtools export price decreased by -35.7% against 2019 indices. The growth pace was the most rapid in 2019 when the average export price increased by 55% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Russia ($X per unit) and Estonia ($X per unit), while the average price for exports to Italy ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Motor Handtools Imports

Imports into Latvia

In value terms, non-electric motor handtools imports reduced slightly to $X in 2022. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +83.2% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 53% against the previous year. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

In value terms, Lithuania ($X) constituted the largest supplier of handtools, hydraulic or with a self-contained non-electric motor to Latvia, comprising 39% of total imports. The second position in the ranking was taken by China ($X), with a 19% share of total imports. It was followed by Sweden, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania stood at +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.5% per year) and Sweden (-1.0% per year).

Source: IndexBox Platform