Latvia: Keyboards Market 2024

Keyboards Market Size in Latvia

In 2022, after two years of growth, there was significant decline in the Latvian keyboards market, when its value decreased by -9.8% to $X. Over the period under review, consumption, however, posted a noticeable increase. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Keyboards Exports

Exports from Latvia

In 2022, the amount of keyboards exported from Latvia reached X units, surging by 6% on the previous year's figure. Over the period under review, exports recorded strong growth. The pace of growth was the most pronounced in 2016 with an increase of 58% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, keyboards exports skyrocketed to $X in 2022. In general, exports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 179%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Lithuania (X units), Estonia (X units) and the Netherlands (X units) were the main destinations of keyboards exports from Latvia, with a combined 81% share of total exports. Russia, Poland, Cyprus and Kazakhstan lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cyprus (with a CAGR of +74.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for keyboards exported from Latvia were Lithuania ($X), Estonia ($X) and the Netherlands ($X), with a combined 71% share of total exports. Russia, Kazakhstan, Cyprus and Poland lagged somewhat behind, together accounting for a further 19%.

In terms of the main countries of destination, Cyprus, with a CAGR of +65.4%, 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

In 2022, the average keyboards export price amounted to $X per unit, increasing by 11% against the previous year. In general, the export price, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 147% 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Keyboards Imports

Imports into Latvia

After two years of growth, overseas purchases of keyboards decreased by -8.3% to X units in 2022. Overall, total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.0% 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 +72.3% against 2015 indices. The growth pace was the most rapid in 2020 with an increase of 35%. Imports peaked at X units in 2021, and then shrank in the following year.

In value terms, keyboards imports stood at $X in 2022. Over the period under review, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 45% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Germany (X units), Lithuania (X units) and the Czech Republic (X units) were the main suppliers of keyboards imports to Latvia, with a combined 63% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +39.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Germany ($X) and Lithuania ($X) constituted the largest keyboards suppliers to Latvia, with a combined 64% share of total imports.

The Czech Republic, with a CAGR of +39.7%, saw the highest growth rate of 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 keyboards import price amounted to $X per unit, increasing by 13% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, keyboards import price increased by +88.2% against 2013 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 17% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+17.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform