Latvia: Other Chemical Products Market 2024

Other Chemical Products Market Size in Latvia

The Latvian other chemical products market amounted to less than $X in 2022, stabilizing at the previous year. In general, consumption, however, recorded 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 lower figure.

Other Chemical Products Production in Latvia

In value terms, other chemical products production stood at less than $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 2014 with an increase of 16% against the previous year. Other chemical products production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Other Chemical Products Exports

Exports from Latvia

In 2016, approx. X tons of other chemical products were exported from Latvia; increasing by 51% against 2015. In general, total exports indicated temperate growth from 2012 to 2016: its volume increased at an average annual rate of +4.7% over the last four-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2016 figures, exports increased by +53.6% against 2013 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, other chemical products exports soared to $X in 2016. Over the period under review, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Estonia (X tons), Lithuania (X tons) and Finland (X tons) were the main destinations of other chemical products exports from Latvia, with a combined 81% share of total exports. Russia, Poland, Uzbekistan, Bulgaria and Belarus lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2016, the biggest increases were recorded for Uzbekistan (with a CAGR of +1,292.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for other chemical products exported from Latvia were Estonia ($X), Finland ($X) and Lithuania ($X), together accounting for 65% of total exports. Poland, Bulgaria, Russia, Uzbekistan and Belarus lagged somewhat behind, together comprising a further 27%.

Among the main countries of destination, Uzbekistan, with a CAGR of +909.9%, saw the highest rates of growth with regard to 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 other chemical products export price stood at $X per ton in 2016, jumping by 21% against the previous year. Over the period from 2012 to 2016, it increased at an average annual rate of +10.5%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 29%. The export price peaked in 2016 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2016, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Estonia ($X per ton) was amongst the lowest.

From 2012 to 2016, the most notable rate of growth in terms of prices was recorded for supplies to Belarus (+20.9%), while the prices for the other major destinations experienced more modest paces of growth.

Other Chemical Products Imports

Imports into Latvia

In 2016, the amount of other chemical products imported into Latvia reached X tons, growing by 4.5% on the year before. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 22%. As a result, imports reached the peak of X tons. From 2014 to 2016, the growth of imports remained at a lower figure.

In value terms, other chemical products imports rose rapidly to $X in 2016. Over the period under review, imports, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2013 when imports increased by 29%. As a result, imports attained the peak of $X. From 2014 to 2016, the growth of imports remained at a lower figure.

Imports by Country

Canada (X tons), Poland (X tons) and Russia (X tons) were the main suppliers of other chemical products imports to Latvia, with a combined 38% share of total imports. Germany, the Czech Republic, China, Finland, Turkey, Austria, the UK, Lithuania, Malaysia and the Netherlands lagged somewhat behind, together accounting for a further 54%.

From 2012 to 2016, the biggest increases were recorded for the Czech Republic (with a CAGR of +149.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and Lithuania ($X) appeared to be the largest other chemical products suppliers to Latvia, with a combined 41% share of total imports. Russia, Canada, China, Finland, the UK, the Czech Republic, the Netherlands, Austria, Malaysia and Turkey lagged somewhat behind, together accounting for a further 40%.

The Czech Republic, with a CAGR of +97.7%, 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

In 2016, the average other chemical products import price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 5.7% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2016, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2016, the most notable rate of growth in terms of prices was attained by Lithuania (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform