Latvia: Metal Rivet Market 2024

Metal Rivet Market Size in Latvia

The Latvian metal rivet market contracted to $X in 2022, which is down by -10.6% against the previous year. Overall, consumption continues to indicate a noticeable descent. Metal rivet consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Metal Rivet Production in Latvia

In value terms, metal rivet production declined notably to $X in 2022 estimated in export price. Over the period under review, production saw a slight slump. The pace of growth appeared the most rapid in 2021 with an increase of 75%. Metal rivet production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Metal Rivet Exports

Exports from Latvia

In 2022, metal rivet exports from Latvia shrank significantly to X tons, with a decrease of -45.9% on the year before. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 517%. Over the period under review, the exports reached the maximum at X tons in 2021, and then fell significantly in the following year.

In value terms, metal rivet exports dropped significantly to $X in 2022. Overall, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2021 with an increase of 323%. As a result, the exports reached the peak of $X, and then dropped significantly in the following year.

Exports by Country

Ukraine (X tons), Germany (X tons) and Belarus (X tons) were the main destinations of metal rivet exports from Latvia, with a combined 86% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +79.9%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for iron or steel rivets exports from Latvia, comprising 75% of total exports. The second position in the ranking was taken by Ukraine ($X), with an 11% share of total exports. It was followed by Belarus, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +75.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+11.6% per year) and Belarus (+34.8% per year).

Export Prices by Country

The average metal rivet export price stood at $X per ton in 2022, increasing by 35% against the previous year. In general, the export price, however, recorded a pronounced reduction. The growth pace was the most rapid in 2020 an increase of 61% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Belarus ($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 Turkey (+32.1%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Rivet Imports

Imports into Latvia

In 2022, overseas purchases of iron or steel rivets decreased by -47.9% to X tons, falling for the second year in a row after three years of growth. Overall, imports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2020 when imports increased by 123% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, metal rivet imports dropped significantly to $X in 2022. In general, imports, however, enjoyed a tangible increase. The most prominent rate of growth was recorded in 2019 when imports increased by 176% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), China (X tons) and Poland (X tons) were the main suppliers of metal rivet imports to Latvia, together comprising 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +32.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of iron or steel rivets to Latvia, comprising 79% of total imports. The second position in the ranking was taken by China ($X), with a 7.9% share of total imports. It was followed by Poland, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +34.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.3% per year) and Poland (+17.6% per year).

Import Prices by Country

The average metal rivet import price stood at $X per ton in 2022, rising by 11% against the previous year. Over the period under review, the import price saw a buoyant expansion. The pace of growth appeared the most rapid in 2021 an increase of 74% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform