Latvia: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Latvia

The Latvian metal office furniture market rose modestly to $X in 2022, increasing by 4.5% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Office Furniture Production in Latvia

In value terms, metal office furniture production soared to $X in 2022 estimated in export price. Over the period under review, production, however, showed strong growth. The pace of growth was the most pronounced in 2018 with an increase of 80% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Metal Office Furniture Exports

Exports from Latvia

In 2022, metal office furniture exports from Latvia declined remarkably to X tons, reducing by -21.4% on the year before. Overall, exports recorded a significant curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 12% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal office furniture exports shrank sharply to $X in 2022. In general, exports saw a deep downturn. The growth pace was the most rapid in 2013 with an increase of 29% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Estonia (X tons), Lithuania (X tons) and Denmark (X tons) were the main destinations of metal office furniture exports from Latvia, together accounting for 89% of total exports. Sweden, Germany and Russia lagged somewhat behind, together comprising a further 8.5%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +59.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Lithuania ($X) and Sweden ($X) appeared to be the largest markets for metal office furniture exported from Latvia worldwide, with a combined 69% share of total exports. Denmark, Germany and Russia lagged somewhat behind, together comprising a further 22%.

In terms of the main countries of destination, Germany, with a CAGR of +57.0%, saw the highest growth rate of 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

The average metal office furniture export price stood at $X per ton in 2022, with a decrease of -20.8% against the previous year. Over the period under review, the export price, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2016 when the average export price increased by 144% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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 Sweden ($X per ton), while the average price for exports to Estonia ($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 Denmark (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Office Furniture Imports

Imports into Latvia

In 2022, the amount of metal office furniture imported into Latvia shrank remarkably to X tons, waning by -17.6% against the previous year. In general, imports recorded a abrupt decrease. The growth pace was the most rapid in 2013 with an increase of 62%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, metal office furniture imports fell modestly to $X in 2022. Overall, imports recorded a pronounced reduction. The most prominent rate of growth was recorded in 2013 with an increase of 57% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of metal office furniture to Latvia, with a 48% share of total imports. Moreover, metal office furniture imports from Poland exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), threefold. The third position in this ranking was taken by China (X tons), with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland stood at +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+2.1% per year) and China (-5.4% per year).

In value terms, Poland ($X), Lithuania ($X) and Sweden ($X) constituted the largest metal office furniture suppliers to Latvia, with a combined 67% share of total imports. Estonia, Finland, China, Ukraine, Germany, Denmark, Belarus and France lagged somewhat behind, together accounting for a further 25%.

Ukraine, with a CAGR of +26.2%, 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 metal office furniture import price amounted to $X per ton, rising by 16% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 21%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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 France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform