Latvia: Soap And Detergent Market 2024

Soap And Detergent Market Size in Latvia

The Latvian soap and detergent market reduced remarkably to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption recorded a mild downturn. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Soap And Detergent Production in Latvia

In value terms, soap and detergent production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a drastic downturn. Soap and detergent production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Soap And Detergent Exports

Exports from Latvia

In 2022, the amount of soap and detergents exported from Latvia soared to X tons, jumping by X% against the year before. Overall, exports enjoyed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, soap and detergent exports surged to $X in 2022. Over the period under review, exports saw a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for soap and detergent exports from Latvia, accounting for a X% share of total exports. Moreover, soap and detergent exports to Russia exceeded the volume sent to the second major destination, Lithuania (X tons), eightfold. Estonia (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Estonia (X% per year).

In value terms, the largest markets for soap and detergent exported from Latvia were Russia ($X), Estonia ($X) and Lithuania ($X), with a combined X% share of total exports. Poland and Kazakhstan lagged somewhat behind, together comprising a further X%.

Kazakhstan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average soap and detergent export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price showed a noticeable setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2021, and then fell remarkably in the following year.

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

Soap And Detergent Imports

Imports into Latvia

In 2022, the amount of soap and detergents imported into Latvia surged to X tons, with an increase of X% on 2021. In general, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, soap and detergent imports rose to $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2014 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest soap and detergent supplier to Latvia, accounting for a X% share of total imports. Moreover, soap and detergent imports from Lithuania exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was taken by Estonia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Lithuania totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Estonia (X% per year).

In value terms, Lithuania ($X), Poland ($X) and Germany ($X) were the largest soap and detergent suppliers to Latvia, with a combined X% share of total imports.

Lithuania, with a CAGR of X%, 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

In 2022, the average soap and detergent import price amounted to $X per ton, waning by X% against the previous year. Overall, the import price saw a slight curtailment. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform