Latvia: Printing Press Market 2024

Printing Press Market Size in Latvia

The Latvian printing press market rose notably to $X in 2022, increasing by 15% against the previous year. Overall, consumption, however, showed a drastic downturn. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Printing Press Production in Latvia

In value terms, printing press production contracted to $X in 2022 estimated in export price. In general, production recorded a perceptible decrease. The growth pace was the most rapid in 2016 when the production volume increased by 172%. Printing press production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Printing Press Exports

Exports from Latvia

After two years of growth, shipments abroad of printing presses decreased by -69.7% to X units in 2022. Overall, exports continue to indicate a slight reduction. The pace of growth was the most pronounced in 2013 when exports increased by 121%. Over the period under review, the exports reached the maximum at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, printing press exports shrank to $X in 2022. Over the period under review, exports, however, showed strong growth. The pace of growth appeared the most rapid in 2020 with an increase of 329%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Belarus (X units), Norway (X units) and Serbia (X units) were the main destinations of printing press exports from Latvia, with a combined 45% share of total exports. Russia, India, Estonia, China, the Netherlands, Ukraine and Sweden lagged somewhat behind, together comprising a further 55%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +100.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for printing press exported from Latvia were China ($X), Estonia ($X) and Ukraine ($X), with a combined 85% share of total exports.

In terms of the main countries of destination, China, with a CAGR of +7,695,253.8%, saw the highest growth rate of 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 printing press export price stood at $X per unit in 2022, growing by 188% against the previous year. In general, the export price showed resilient growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by 240%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Sweden ($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 China (+3,847,576.9%), while the prices for the other major destinations experienced more modest paces of growth.

Printing Press Imports

Imports into Latvia

In 2022, approx. X units of printing presses were imported into Latvia; surging by 6.8% on 2021 figures. In general, imports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 830% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, printing press imports dropped notably to $X in 2022. Over the period under review, imports, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by 173% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Poland (X units) constituted the largest printing press supplier to Latvia, accounting for a 52% share of total imports. Moreover, printing press imports from Poland exceeded the figures recorded by the second-largest supplier, Belgium (X units), fourfold. The Netherlands (X units) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from Poland amounted to +54.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+33.0% per year) and the Netherlands (-5.2% per year).

In value terms, the largest printing press suppliers to Latvia were Germany ($X), Italy ($X) and the Netherlands ($X), with a combined 70% share of total imports. Estonia, China, Poland, Belgium, Denmark, the UK and Lithuania lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, Poland, with a CAGR of +89.1%, recorded the highest rates of growth with regard to 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 printing press import price stood at $X per unit in 2022, waning by -20.8% against the previous year. Over the period under review, the import price, however, posted a prominent increase. The most prominent rate of growth was recorded in 2019 an increase of 737%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a lower figure.

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 Germany ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+58.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform