Latvia: Market for Parts For Electric Filament Or Discharge Lamps 2024

Market Size for Parts For Electric Filament Or Discharge Lamps in Latvia

The Latvian electric filament lamp parts market soared to $X in 2022, increasing by 1,203% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a significant increase. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Exports of Parts For Electric Filament Or Discharge Lamps

Exports from Latvia

In 2022, electric filament lamp parts exports from Latvia fell remarkably to X kg, shrinking by -80.6% on the year before. Over the period under review, exports recorded a perceptible contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 1,145% against the previous year. As a result, the exports attained the peak of X tons, and then shrank remarkably in the following year.

In value terms, electric filament lamp parts exports skyrocketed to $X in 2022. In general, exports continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 240%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Lithuania (X kg) was the main destination for electric filament lamp parts exports from Latvia, with a 57% share of total exports. Moreover, electric filament lamp parts exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X kg), threefold. The third position in this ranking was held by Sweden (X kg), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania amounted to +27.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-12.7% per year) and Sweden (+65.1% per year).

In value terms, Lithuania ($X) remains the key foreign market for parts for electric filament or discharge lamps exports from Latvia, comprising 53% of total exports. The second position in the ranking was held by Norway ($X), with an 18% share of total exports. It was followed by Sweden, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Lithuania amounted to +36.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-12.1% per year) and Sweden (+91.1% per year).

Export Prices by Country

In 2022, the average electric filament lamp parts export price amounted to $X per ton, rising by 1,561% against the previous year. In general, the export price recorded pronounced growth. 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Poland ($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 (+70.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Parts For Electric Filament Or Discharge Lamps

Imports into Latvia

After two years of decline, purchases abroad of parts for electric filament or discharge lamps increased by 371% to X tons in 2022. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 533% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, electric filament lamp parts imports surged to $X in 2022. Overall, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 542%. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Bulgaria (X tons) constituted the largest supplier of electric filament lamp parts to Latvia, with a 60% share of total imports. Moreover, electric filament lamp parts imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Estonia (X tons), twofold. The third position in this ranking was taken by Poland (X tons), with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Bulgaria was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+55.9% per year) and Poland (+32.0% per year).

In value terms, the largest electric filament lamp parts suppliers to Latvia were Estonia ($X), Bulgaria ($X) and Poland ($X), together accounting for 88% of total imports. Slovakia, China, Lithuania and Denmark lagged somewhat behind, together comprising a further 6.5%.

China, with a CAGR of +59.2%, saw the highest rates of growth with regard to 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 electric filament lamp parts import price stood at $X per ton in 2022, reducing by -15.4% against the previous year. Overall, the import price continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2015 when the average import price increased by 20%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Estonia ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform