Latvia: Market for Machinery For Sorting, Mixing, Agglomerating, Shaping Or Moulding of Mined Solids 2024

Market Size for Machinery For Sorting, Mixing, Agglomerating, Shaping Or Moulding of Mined Solids in Latvia

The Latvian market for machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids soared to $X in 2022, surging by 23% against the previous year. Over the period under review, consumption saw a significant increase. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Machinery For Sorting, Mixing, Agglomerating, Shaping Or Moulding of Mined Solids in Latvia

In value terms, production of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids surged to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 81% against the previous year. Production of peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Machinery For Sorting, Mixing, Agglomerating, Shaping Or Moulding of Mined Solids

Exports from Latvia

After two years of growth, shipments abroad of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids decreased by -48.4% to X units in 2022. Over the period under review, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 493%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids declined notably to $X in 2022. Overall, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 267% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2021, and then declined rapidly in the following year.

Exports by Country

Lithuania (X units), Iceland (X units) and Armenia (X units) were the main destinations of exports of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids from Latvia, together accounting for 81% of total exports.

From 2012 to 2022, the biggest increases were recorded for Iceland (with a CAGR of +104.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Lithuania ($X) and Estonia ($X) appeared to be the largest markets for machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids exported from Latvia worldwide, together accounting for 45% of total exports. The United States, Armenia, Norway, Iceland and Turkey lagged somewhat behind, together accounting for a further 9.9%.

In terms of the main countries of destination, the United States, with a CAGR of +64.4%, recorded 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 export price for machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids stood at $X per unit in 2022, which is down by -66.7% against the previous year. In general, the export price, however, continues to indicate prominent growth. The pace of growth was the most pronounced in 2018 an increase of 128% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 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 the United States ($X per unit), while the average price for exports to Iceland ($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 Norway (+40.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machinery For Sorting, Mixing, Agglomerating, Shaping Or Moulding of Mined Solids

Imports into Latvia

For the third consecutive year, Latvia recorded decline in supplies from abroad of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids, which decreased by -14.9% to X units in 2022. Over the period under review, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 272%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids contracted significantly to $X in 2022. Overall, imports saw a deep slump. The growth pace was the most rapid in 2015 when imports increased by 109% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

China (X units), Lithuania (X units) and Thailand (X units) were the main suppliers of imports of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids to Latvia, with a combined 76% share of total imports. Poland, Turkey, Germany, the Czech Republic and Estonia lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +67.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X) constituted the largest supplier of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids to Latvia, comprising 27% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Estonia stood at +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.3% per year) and Germany (-14.0% per year).

Import Prices by Country

The average import price for machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids stood at $X per unit in 2022, falling by -43.2% against the previous year. Over the period under review, the import price faced a abrupt slump. The growth pace was the most rapid in 2018 an increase of 110% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+34.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform