Latvia: Heterocyclic Compound Market 2024

Heterocyclic Compound Market Size in Latvia

The Latvian heterocyclic compound market dropped to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption recorded a slight decrease. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Heterocyclic Compound Production in Latvia

In value terms, heterocyclic compound production fell to $X in 2022 estimated in export price. Overall, production continues to indicate a mild curtailment. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Heterocyclic Compound Exports

Exports from Latvia

Heterocyclic compound exports from Latvia stood at X tons in 2022, increasing by X% compared with the previous year. Overall, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, heterocyclic compound exports skyrocketed to $X in 2022. Over the period under review, exports showed a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons) was the main destination for heterocyclic compound exports from Latvia, accounting for a X% share of total exports. Moreover, heterocyclic compound exports to Germany exceeded the volume sent to the second major destination, Italy (X kg), threefold. The United States (X kg) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and the United States (X% per year).

In value terms, the United States ($X), Germany ($X) and India ($X) appeared to be the largest markets for heterocyclic compound exported from Latvia worldwide, together comprising X% of total exports. The UK, Italy, Spain, the Netherlands, Ukraine and Brazil lagged somewhat behind, together accounting for a further X%.

The UK, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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 heterocyclic compound export price stood at $X,825 per ton in 2022, increasing by X% against the previous year. Overall, the export price continues to indicate moderate growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X,152 per ton), while the average price for exports to Brazil ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Heterocyclic Compound Imports

Imports into Latvia

In 2022, purchases abroad of heterocyclic compounds decreased by X% to X tons, falling for the third year in a row after three years of growth. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, heterocyclic compound imports declined dramatically to $X in 2022. In general, imports, however, posted a strong expansion. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and Ukraine (X tons) were the main suppliers of heterocyclic compound imports to Latvia, with a combined X% share of total imports.

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

In value terms, Ukraine ($X), the United States ($X) and Italy ($X) constituted the largest heterocyclic compound suppliers to Latvia, together accounting for X% of total imports.

The United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 heterocyclic compound import price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price posted buoyant growth. The growth pace was the most rapid in 2016 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2020; however, from 2021 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 the United States ($X,473 per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform