Latvia: Cotton Table Linen Market 2024

Cotton Table Linen Market Size in Latvia

The Latvian cotton table linen market declined to $X in 2022, reducing by -2.2% against the previous year. Overall, consumption, however, continues to indicate a deep setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cotton Table Linen Production in Latvia

In value terms, cotton table linen production reduced to $X in 2022 estimated in export price. Overall, production showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 30%. Cotton table linen production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Cotton Table Linen Exports

Exports from Latvia

After three years of growth, shipments abroad of table linen of cotton decreased by -14% to X tons in 2022. Over the period under review, exports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 78%. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, cotton table linen exports declined rapidly to $X in 2022. Overall, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2015 when exports increased by 54%. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Sweden (X tons), Lithuania (X tons) and Estonia (X tons) were the main destinations of cotton table linen exports from Latvia, with a combined 90% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +72.2%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for table linen of cotton exports from Latvia, comprising 71% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 12% share of total exports. It was followed by Estonia, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value to Sweden totaled +74.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+12.3% per year) and Estonia (-3.5% per year).

Export Prices by Country

The average cotton table linen export price stood at $X per ton in 2022, reducing by -12.1% against the previous year. In general, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cotton table linen export price increased by +23.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 41% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Uzbekistan ($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 Russia (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Table Linen Imports

Imports into Latvia

For the eighth consecutive year, Latvia recorded growth in purchases abroad of table linen of cotton, which increased by 14% to X tons in 2022. In general, imports posted strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by 65% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, cotton table linen imports contracted to $X in 2022. Over the period under review, imports recorded temperate growth. The pace of growth appeared the most rapid in 2020 with an increase of 24%. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of cotton table linen to Latvia, with a 46% share of total imports. Moreover, cotton table linen imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Lithuania (X tons) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume from Poland stood at +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+30.8% per year) and Lithuania (+2.1% per year).

In value terms, Poland ($X) constituted the largest supplier of table linen of cotton to Latvia, comprising 41% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by Finland, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland totaled +25.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+17.7% per year) and Finland (-2.1% per year).

Import Prices by Country

In 2022, the average cotton table linen import price amounted to $X per ton, shrinking by -18% against the previous year. Over the period under review, the import price showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when the average import price increased by 49% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform