Latvia: Telephone Apparatus Market 2024

Telephone Apparatus Market Size in Latvia

After two years of growth, the Latvian telephone apparatus market decreased by -29% to $X in 2022. Over the period under review, consumption, however, enjoyed a resilient expansion. Over the period under review, the market hit record highs at $X in 2021, and then plummeted in the following year.

Telephone Apparatus Production in Latvia

In value terms, telephone apparatus production shrank dramatically to $X in 2022 estimated in export price. Overall, production, however, saw a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 196% against the previous year. Telephone apparatus production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Telephone Apparatus Exports

Exports from Latvia

In 2022, shipments abroad of telephone apparatus decreased by -16.6% to X tons, falling for the third year in a row after eight years of growth. Over the period under review, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 127%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, telephone apparatus exports contracted modestly to $X in 2022. Overall, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +10.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -12.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 85%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Russia (X tons) and Poland (X tons) were the main destinations of telephone apparatus exports from Latvia, with a combined 13% share of total exports. Lithuania, the United Arab Emirates, the Czech Republic, South Africa, Indonesia, Germany, Estonia, Paraguay, Italy and Hong Kong SAR lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +151.2%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) remains the key foreign market for telephone apparatus exports from Latvia, comprising 26% of total exports. The second position in the ranking was taken by Estonia ($X), with a 9.7% share of total exports. It was followed by the United States, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value to Lithuania totaled +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+10.3% per year) and the United States (+21.9% per year).

Export Prices by Country

The average telephone apparatus export price stood at $X per ton in 2021, dropping by -6.1% against the previous year. In general, the export price recorded a noticeable reduction. The pace of growth appeared the most rapid in 2020 when the average export price increased by 282%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Telephone Apparatus Imports

Imports into Latvia

In 2022, overseas purchases of telephone apparatus decreased by -21% to X tons, falling for the fourth year in a row after two years of growth. In general, imports, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of 130% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, telephone apparatus imports stood at $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -5.6% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 64% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of telephone apparatus to Latvia, accounting for a 42% share of total imports. Moreover, telephone apparatus imports from China exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), threefold. The third position in this ranking was held by Vietnam (X tons), with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+18.5% per year) and Vietnam (+16.5% per year).

In value terms, the largest telephone apparatus suppliers to Latvia were China ($X), Vietnam ($X) and Lithuania ($X), with a combined 71% share of total imports.

Vietnam, with a CAGR of +21.3%, recorded the highest growth rate of 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

The average telephone apparatus import price stood at $X per ton in 2021, growing by 5.3% against the previous year. In general, the import price, however, continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2019 when the average import price increased by 90% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform