Latvia: Marine Gps Navigator Market 2025

Marine Gps Navigator Market Size in Latvia

The Latvian marine GPS navigator market contracted markedly to $X in 2022, with a decrease of -87.3% against the previous year. In general, consumption showed a precipitous slump. Marine GPS navigator consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Marine Gps Navigator Production in Latvia

In value terms, marine GPS navigator production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable slump. The most prominent rate of growth was recorded in 2019 with an increase of 87% against the previous year. Marine GPS navigator production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Marine Gps Navigator Exports

Exports from Latvia

In 2022, after two years of growth, there was significant decline in overseas shipments of marine or river navigation instruments and appliances, when their volume decreased by -19.1% to X units. In general, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 1,822% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, marine GPS navigator exports reduced rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2016 when exports increased by 2,146% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for marine GPS navigator exports from Latvia, accounting for a 67% share of total exports. Moreover, marine GPS navigator exports to Canada exceeded the volume sent to the second major destination, the UK (X units), threefold. Turkey (X units) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume to Canada amounted to +54.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+4.0% per year) and Turkey (+53.5% per year).

In value terms, Canada ($X) emerged as the key foreign market for marine or river navigation instruments and appliances exports from Latvia, comprising 78% of total exports. The second position in the ranking was taken by the UK ($X), with a 12% share of total exports. It was followed by Turkey, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at +48.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-7.8% per year) and Turkey (+47.8% per year).

Export Prices by Country

In 2022, the average marine GPS navigator export price amounted to $X per unit, shrinking by -26.8% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 when the average export price increased by 58%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to the UK ($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 (+0.5%), while the prices for the other major destinations experienced a decline.

Marine Gps Navigator Imports

Imports into Latvia

In 2022, approx. X units of marine or river navigation instruments and appliances were imported into Latvia; reducing by -67.1% against the year before. In general, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 365% against the previous year. Imports peaked at X units in 2021, and then declined remarkably in the following year.

In value terms, marine GPS navigator imports declined markedly to $X in 2022. Overall, imports recorded a noticeable setback. The growth pace was the most rapid in 2018 with an increase of 918%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The Netherlands (X units), Poland (X units) and Estonia (X units) were the main suppliers of marine GPS navigator imports to Latvia, together comprising 82% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +89.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of marine or river navigation instruments and appliances to Latvia, comprising 46% of total imports. The second position in the ranking was taken by Poland ($X), with a 19% share of total imports. It was followed by Estonia, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands totaled +113.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+46.2% per year) and Estonia (+61.9% per year).

Import Prices by Country

In 2022, the average marine GPS navigator import price amounted to $X per unit, falling by -10.5% against the previous year. Over the period under review, the import price saw a abrupt downturn. The pace of growth appeared the most rapid in 2018 when the average import price increased by 119%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per unit), while the price for Estonia ($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 Netherlands (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform