Latvia: Market for Non-Upholstered Seats With Wooden Frames 2024

Market Size for Non-Upholstered Seats With Wooden Frames in Latvia

The Latvian wooden frame non-upholstered seat market declined remarkably to $X in 2022, reducing by -38.3% against the previous year. Over the period under review, consumption recorded a deep downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Non-Upholstered Seats With Wooden Frames in Latvia

In value terms, wooden frame non-upholstered seat production fell modestly to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2016 with an increase of 4.8% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Exports of Non-Upholstered Seats With Wooden Frames

Exports from Latvia

In 2022, approx. X units of non-upholstered seats with wooden frames were exported from Latvia; reducing by -4.1% compared with 2021 figures. In general, exports, however, showed moderate growth. The growth pace was the most rapid in 2021 when exports increased by 242%. As a result, the exports attained the peak of X units, and then dropped modestly in the following year.

In value terms, wooden frame non-upholstered seat exports skyrocketed to $X in 2022. Overall, exports, however, saw buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by 317%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Denmark (X units) was the main destination for wooden frame non-upholstered seat exports from Latvia, with a 82% share of total exports. Moreover, wooden frame non-upholstered seat exports to Denmark exceeded the volume sent to the second major destination, the United States (X units), tenfold. Sweden (X units) ranked third in terms of total exports with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Denmark amounted to +45.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+13.9% per year) and Sweden (-3.8% per year).

In value terms, Denmark ($X) remains the key foreign market for non-upholstered seats with wooden frames exports from Latvia, comprising 81% of total exports. The second position in the ranking was taken by the United States ($X), with a 7.7% share of total exports. It was followed by Sweden, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value to Denmark stood at +68.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+31.7% per year) and Sweden (+11.2% per year).

Export Prices by Country

The average wooden frame non-upholstered seat export price stood at $X per unit in 2022, picking up by 48% against the previous year. Over the period under review, the export price recorded a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Germany ($X per unit), while the average price for exports to Slovakia ($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 Germany (+20.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Upholstered Seats With Wooden Frames

Imports into Latvia

In 2022, supplies from abroad of non-upholstered seats with wooden frames decreased by -53% to X units for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, continue to indicate a noticeable expansion. The pace of growth was the most pronounced in 2019 with an increase of 99%. Over the period under review, imports attained the peak figure at X units in 2021, and then shrank markedly in the following year.

In value terms, wooden frame non-upholstered seat imports dropped significantly to $X in 2022. Overall, imports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2019 when imports increased by 75% against the previous year. Imports peaked at $X in 2021, and then dropped sharply in the following year.

Imports by Country

In 2022, Poland (X units) constituted the largest wooden frame non-upholstered seat supplier to Latvia, accounting for a 43% share of total imports. Moreover, wooden frame non-upholstered seat imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. The third position in this ranking was held by Lithuania (X units), with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume from Poland amounted to +34.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.6% per year) and Lithuania (+6.0% per year).

In value terms, Poland ($X) constituted the largest supplier of non-upholstered seats with wooden frames to Latvia, comprising 43% of total imports. The second position in the ranking was held by Germany ($X), with a 9.9% share of total imports. It was followed by Lithuania, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value from Poland stood at +39.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.2% per year) and Lithuania (+9.5% per year).

Import Prices by Country

The average wooden frame non-upholstered seat import price stood at $X per unit in 2022, surging by 57% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($X per unit) and Estonia ($X per unit), while the price for Italy ($X per unit) and Malaysia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform