Latvia: Market for Primary Cells And Primary Batteries 2024

Market Size for Primary Cells And Primary Batteries in Latvia

The Latvian market for primary cells and primary batteries surged to $X in 2022, picking up by 17% 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). Over the period under review, consumption recorded a remarkable increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Exports of Primary Cells And Primary Batteries

Exports from Latvia

In 2022, shipments abroad of primary cells and primary batteries was finally on the rise to reach X units after two years of decline. Over the period under review, exports posted a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 106% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, primary cells and primary batteries exports surged to $X in 2022. In general, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 94% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Estonia (X units), Poland (X units) and the United Arab Emirates (X units) were the main destinations of primary cells and primary batteries exports from Latvia, together comprising 67% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +290.0%), while the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X) remains the key foreign market for primary cells and primary batteries exports from Latvia, comprising 37% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 13% share of total exports. It was followed by Poland, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Estonia amounted to +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+3.6% per year) and Poland (+156.5% per year).

Export Prices by Country

In 2022, the average export price for primary cells and primary batteries amounted to $X per unit, with a decrease of -3.7% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 32%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per unit), while the average price for exports to Belarus ($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 Lithuania (+10.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Primary Cells And Primary Batteries

Imports into Latvia

Primary cells and primary batteries imports into Latvia soared to X units in 2022, increasing by 23% compared with the year before. In general, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +8.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 45%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, primary cells and primary batteries imports skyrocketed to $X in 2022. Over the period under review, imports posted resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 49%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X units), Poland (X units) and Lithuania (X units) were the main suppliers of primary cells and primary batteries imports to Latvia, with a combined 70% share of total imports. Estonia, China, Bulgaria, the Czech Republic and the UK lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +138.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest primary cells and primary batteries suppliers to Latvia were Lithuania ($X), Germany ($X) and Poland ($X), together accounting for 64% of total imports. Estonia, China, the Czech Republic, Bulgaria and the UK lagged somewhat behind, together accounting for a further 25%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +96.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for primary cells and primary batteries stood at $X per unit in 2022, increasing by 8.6% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 25%. As a result, import price attained the peak level of $X per unit. From 2021 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 Lithuania ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform