Latvia: Spectrometers And Spectrophotometers Market 2024

Spectrometers And Spectrophotometers Market Size in Latvia

The Latvian spectrometers and spectrophotometers market soared to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption, however, showed a deep setback. Spectrometers and spectrophotometers consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Spectrometers And Spectrophotometers Production in Latvia

In value terms, spectrometers and spectrophotometers production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, faced a deep slump. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Spectrometers And Spectrophotometers Exports

Exports from Latvia

In 2022, exports of spectrometers and spectrophotometers from Latvia fell rapidly to X units, shrinking by X% against the previous year's figure. Overall, exports, however, saw notable growth. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports reached the maximum at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, spectrometers and spectrophotometers exports fell dramatically to $X in 2022. In general, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped markedly in the following year.

Exports by Country

Russia (X units) was the main destination for spectrometers and spectrophotometers exports from Latvia, accounting for a X% share of total exports. Moreover, spectrometers and spectrophotometers exports to Russia exceeded the volume sent to the second major destination, Kyrgyzstan (X units), fivefold. The third position in this ranking was held by Uzbekistan (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (X% per year) and Uzbekistan (X% per year).

In value terms, Russia ($X) remains the key foreign market for spectrometers and spectrophotometers exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Uzbekistan ($X), with an X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the average spectrometers and spectrophotometers export price amounted to $X per unit, which is down by X% against the previous year. In general, export price indicated mild growth from 2012 to 2022: its price 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. The pace of growth appeared the most rapid in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then fell rapidly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per unit), while the average price for exports to Poland ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced mixed trend patterns.

Spectrometers And Spectrophotometers Imports

Imports into Latvia

In 2022, imports of spectrometers and spectrophotometers into Latvia surged to X units, picking up by X% compared with the year before. Overall, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, spectrometers and spectrophotometers imports dropped slightly to $X in 2022. In general, imports continue to indicate a noticeable expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X units), the Netherlands (X units) and Austria (X units) were the main suppliers of spectrometers and spectrophotometers imports to Latvia, with a combined X% share of total imports. The United States, the Czech Republic, Denmark, Ireland, Canada, Poland, Belgium and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest spectrometers and spectrophotometers suppliers to Latvia were Germany ($X), the Netherlands ($X) and Austria ($X), with a combined X% share of total imports. Denmark, the United States, the Czech Republic, Ireland, Poland, Canada, Belgium and France lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Ireland, with a CAGR of X%, 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

In 2022, the average spectrometers and spectrophotometers import price amounted to $X per unit, falling by X% against the previous year. In general, the import price continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat 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 Denmark ($X per unit), while the price for France ($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 Czech Republic (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform