Latvia: Market for Numerically Controlled Sharpening Machines For Working Metal 2024

Market Size for Numerically Controlled Sharpening Machines For Working Metal in Latvia

The Latvian numerically controlled sharpening machine market soared to $X in 2022, rising by 176% against the previous year. Over the period under review, consumption, however, saw a pronounced curtailment. Numerically controlled sharpening machine consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Numerically Controlled Sharpening Machines For Working Metal in Latvia

In value terms, numerically controlled sharpening machine production declined modestly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 5.8% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Numerically Controlled Sharpening Machines For Working Metal

Exports from Latvia

Numerically controlled sharpening machine exports from Latvia stood at X units in 2022, remaining constant against 2021 figures. In general, exports saw a precipitous shrinkage. The smallest decline of -50% was in 2021. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, numerically controlled sharpening machine exports reduced dramatically to $X in 2022. Overall, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 898% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for numerically controlled sharpening machine exports from Latvia, with a approx. 100% share of total exports.

From 2020 to 2022, the average annual growth rate of volume to the Netherlands was relatively modest.

In value terms, the Netherlands ($X) also remains the key foreign market for numerically controlled sharpening machines for working metal exports from Latvia.

From 2020 to 2022, the average annual rate of growth in terms of value to the Netherlands totaled +8,715.3%.

Export Prices by Country

In 2022, the average numerically controlled sharpening machine export price amounted to $X per unit, which is down by -45% against the previous year. Over the period under review, the export price, however, saw a significant expansion. The growth pace was the most rapid in 2021 when the average export price increased by 1,895% against the previous year. As a result, the export price reached the peak level of $X per unit, and then declined dramatically in the following year.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From 2020 to 2022, the rate of growth in terms of prices for the Netherlands amounted to +8,715.3% per year.

Imports of Numerically Controlled Sharpening Machines For Working Metal

Imports into Latvia

In 2022, approx. X units of numerically controlled sharpening machines for working metal were imported into Latvia; increasing by 175% against the previous year's figure. In general, imports, however, saw a noticeable curtailment. The pace of growth was the most pronounced in 2020 with an increase of 400%. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, numerically controlled sharpening machine imports soared to $X in 2022. Over the period under review, imports posted a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 674%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Germany (X units), Switzerland (X units) and Italy (X units) were the main suppliers of numerically controlled sharpening machine imports to Latvia, together accounting for 73% of total imports. Moreover, numerically controlled sharpening machine imports in Germany exceeded the figures recorded by the second-largest supplier, Switzerland, twofold.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +9.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), Germany ($X) and Poland ($X) constituted the largest numerically controlled sharpening machine suppliers to Latvia, with a combined 79% share of total imports. Italy, Taiwan (Chinese) and the Czech Republic lagged somewhat behind, together comprising a further 21%.

Italy, with a CAGR of +67.8%, recorded 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

The average numerically controlled sharpening machine import price stood at $X per unit in 2022, jumping by 100% against the previous year. Over the period under review, the import price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 674% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average 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 Switzerland ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+85.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform