Latvia: Prisms And Mirrors Market 2025

Prisms And Mirrors Market Size in Latvia

The Latvian prisms and mirrors market soared to $X in 2022, increasing by 36% against the previous year. Overall, consumption showed a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Prisms And Mirrors Production in Latvia

In value terms, prisms and mirrors production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2013 with an increase of 117%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Prisms And Mirrors Exports

Exports from Latvia

Prisms and mirrors exports from Latvia contracted rapidly to X tons in 2022, falling by -52.6% on 2021 figures. In general, exports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2017 when exports increased by 64%. The exports peaked at X tons in 2021, and then plummeted in the following year.

In value terms, prisms and mirrors exports contracted significantly to $X in 2022. Over the period under review, exports, however, posted resilient growth. The growth pace was the most rapid in 2014 with an increase of 57%. Over the period under review, the exports attained the peak figure at $X in 2021, and then contracted sharply in the following year.

Exports by Country

Lithuania (X tons), the United States (X tons) and Germany (X kg) were the main destinations of prisms and mirrors exports from Latvia, together accounting for 81% of total exports.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +111.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Lithuania ($X) and Germany ($X) constituted the largest markets for prisms and mirrors exported from Latvia worldwide, with a combined 78% share of total exports.

Among the main countries of destination, Lithuania, with a CAGR of +113.7%, recorded 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 prisms and mirrors export price stood at $X per kg in 2022, growing by 77% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per kg in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Israel ($X per kg), while the average price for exports to Belarus ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Prisms And Mirrors Imports

Imports into Latvia

In 2022, imports of prisms and mirrors into Latvia skyrocketed to X tons, rising by 38% on 2021 figures. Over the period under review, imports posted prominent growth. The most prominent rate of growth was recorded in 2019 when imports increased by 69%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, prisms and mirrors imports expanded to $X in 2022. Overall, imports saw a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 94% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

China (X tons), Belarus (X tons) and Germany (X tons) were the main suppliers of prisms and mirrors imports to Latvia, together comprising 69% of total imports. The United States, Lithuania, Finland, Russia, France and South Korea lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +103.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest prisms and mirrors suppliers to Latvia were China ($X), the United States ($X) and Lithuania ($X), with a combined 85% share of total imports. Belarus, Russia, Germany, Finland, France and South Korea lagged somewhat behind, together comprising a further 13%.

Finland, with a CAGR of +120.3%, recorded the highest rates of growth with regard to the value of imports, among 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 2022, the average prisms and mirrors import price amounted to $X per ton, with a decrease of -25.4% against the previous year. Overall, the import price, however, showed a temperate increase. The growth pace was the most rapid in 2014 when the average import price increased by 133% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, 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 the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform