Latvia: Invalid Carriage Market 2025

Invalid Carriage Market Size in Latvia

The Latvian invalid carriage market declined rapidly to $X in 2022, falling by -63.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a modest increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Invalid Carriage Exports

Exports from Latvia

In 2022, shipments abroad of invalid carriages not mechanically propelled decreased by -71% to X units, falling for the second consecutive year after four years of growth. Overall, exports recorded a precipitous contraction. The pace of growth was the most pronounced in 2020 when exports increased by 288% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, invalid carriage exports contracted to $X in 2022. In general, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 503%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X units), Denmark (X units) and Lithuania (X units) were the main destinations of invalid carriage exports from Latvia.

From 2013 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +17.0%), while shipments for the other leaders experienced a decline.

In value terms, Lithuania ($X) emerged as the key foreign market for invalid carriages not mechanically propelled exports from Latvia, comprising 78% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 19% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to Lithuania amounted to -10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+89.3% per year) and Denmark (-41.8% per year).

Export Prices by Country

The average invalid carriage export price stood at $X per unit in 2022, jumping by 201% against the previous year. Over the period under review, the export price posted significant growth. The growth pace was the most rapid in 2021 an increase of 279%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per unit), while the average price for exports to Denmark ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+416.8%), while the prices for the other major destinations experienced more modest paces of growth.

Invalid Carriage Imports

Imports into Latvia

In 2022, invalid carriage imports into Latvia shrank dramatically to X units, which is down by -66.8% compared with the previous year's figure. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 140%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, invalid carriage imports contracted remarkably to $X in 2022. Over the period under review, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2014 when imports increased by 488% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Lithuania (X units) constituted the largest invalid carriage supplier to Latvia, with a 36% share of total imports. Moreover, invalid carriage imports from Lithuania exceeded the figures recorded by the second-largest supplier, Poland (X units), twofold. Denmark (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Lithuania totaled +24.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+47.0% per year) and Denmark (-8.8% per year).

In value terms, the largest invalid carriage suppliers to Latvia were Denmark ($X), Sweden ($X) and Lithuania ($X), with a combined 61% share of total imports. Poland, Canada, Germany, Italy, Portugal and China lagged somewhat behind, together accounting for a further 36%.

Canada, with a CAGR of +88.3%, recorded 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 invalid carriage import price amounted to $X per unit, rising by 56% against the previous year. Overall, the import price showed a significant increase. The growth pace was the most rapid in 2013 when the average import price increased by 564% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Canada ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+46.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform