Latvia: Soap Market 2020

Soap Market Size in Latvia

The revenue of the soap market in Latvia amounted to $X in 2017, lowering by -X% against the previous year. Overall, soap consumption continues to indicate a deep setback. The pace of growth was the most pronounced in 2016, when the market value increased by X% y-o-y. Over the period under review, the soap market reached its maximum level at $X in 2010; however, from 2011 to 2017, consumption remained at a lower figure.

Soap Production in Latvia

In value terms, soap production totaled $X in 2017 estimated in export prices. Overall, soap production, however, continues to indicate a deep setback. The pace of growth was the most pronounced in 2016, when the output figure increased by X% y-o-y. Over the period under review, soap production attained its maximum level at $X in 2008; however, from 2009 to 2017, production stood at a somewhat lower figure.

Soap Exports

Exports from Latvia

In 2017, approx. X tons of soap were exported from Latvia; increasing by X% against the previous year. In general, soap exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014, when exports increased by X% against the previous year. Exports peaked at X tons in 2015; however, from 2016 to 2017, exports stood at a somewhat lower figure.

In value terms, soap exports stood at $X in 2017. Over the period under review, soap exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014, with an increase of X% against the previous year. In that year, soap exports reached their peak of $X. From 2015 to 2017, the growth of soap exports remained at a somewhat lower figure.

Exports by Country

China (X tons), Lithuania (X tons) and Estonia (X tons) were the main destinations of soap exports from Latvia, together accounting for X% of total exports. Ukraine, Finland, Poland, the UK, Denmark, the Netherlands, Germany, France and Hungary lagged somewhat behind, together accounting for a further X 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Hungary (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soap exported from Latvia were Lithuania ($X), Estonia ($X) and China ($X), together comprising X% of total exports. Ukraine, Poland, Finland, Germany, the UK, Hungary, Denmark, the Netherlands and France lagged somewhat behind, together accounting for a further X (+X% per year) experienced the highest growth rate of exports, in terms of the main countries of destination over the last decade, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2017, the average soap export price amounted to $X per ton, going down by -X% against the previous year. In general, the soap export price continues to indicate a deep deduction. The most prominent rate of growth was recorded in 2016, an increase of X% year-to-year. Export price peaked at $X per ton in 2012; however, from 2013 to 2017, export prices remained at a lower figure.

There were significant differences in the average export prices for the major foreign markets. In 2017, the country with the highest export price was Estonia ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was recorded for supplies to Poland, while the export prices for the other major destinations experienced a decline.

Soap Imports

Imports into Latvia

In 2017, the amount of soap imported into Latvia stood at X tons, increasing by X% against the previous year. The total import volume increased at an average annual rate of +X% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2009, when imports increased by X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2017, imports stood at a somewhat lower figure.

In value terms, soap imports amounted to $X in 2017. The total import value increased at an average annual rate of +X% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008, with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2017, imports remained at a lower figure.

Imports by Country

In 2017, Poland (X tons) constituted the largest supplier of soap to Latvia, with a X% share of total imports. Moreover, soap imports from Poland exceeded the figures recorded by the second largest supplier, Estonia (X tons), fivefold. The third position in this ranking was occupied by the UK (X tons), with a X% share.

From 2007 to 2017, the average annual rate of growth in terms of volume from Poland totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+X% per year) and the UK (+X% per year).

In value terms, Poland ($X) constituted the largest supplier of soap to Latvia, comprising X% of total soap imports. The second position in the ranking was occupied by Lithuania ($X), with a X% share of total imports. It was followed by Estonia, with a X% share.

From 2007 to 2017, the average annual rate of growth in terms of value from Poland totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+X% per year) and Estonia (+X% per year).

Import Prices by Country

In 2017, the average soap import price amounted to $X per ton, increasing by X% against the previous year. In general, the soap import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010, when the average import price increased by X% year-to-year. Over the period under review, the average import prices for soap reached their peak figure at $X per ton in 2008; however, from 2009 to 2017, import prices stood at a somewhat lower figure.

Import prices varied noticeably by the country of origin; the country with the highest import price was Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Russia, while the import prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform