Latvia: Transport Container Market 2024

Transport Container Market Size in Latvia

In 2022, the Latvian transport container market increased by 109% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, showed a deep contraction. Transport container consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Transport Container Production in Latvia

In value terms, transport container production skyrocketed to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt setback. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Transport Container Exports

Exports from Latvia

In 2022, overseas shipments of transport containers were finally on the rise to reach X units after four years of decline. Over the period under review, exports, however, continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2015 with an increase of 30% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, transport container exports soared to $X in 2022. In general, exports, however, continue to indicate a slight contraction. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Norway (X units), Lithuania (X units) and Russia (X units) were the main destinations of transport container exports from Latvia, together accounting for 80% 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 Russia (with a CAGR of +42.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for transport container exported from Latvia were Norway ($X), Lithuania ($X) and Sweden ($X), together comprising 72% of total exports. Russia and Estonia lagged somewhat behind, together accounting for a further 21%.

Russia, with a CAGR of +42.3%, recorded the highest growth rate of 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 transport container export price amounted to $X per unit, increasing by 25% against the previous year. Overall, the export price posted strong growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 43%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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 Sweden ($X per unit), while the average price for exports to Estonia ($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 Sweden (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Transport Container Imports

Imports into Latvia

In 2022, after two years of decline, there was significant growth in supplies from abroad of transport containers, when their volume increased by 111% to X units. Overall, imports, however, showed a deep slump. The pace of growth was the most pronounced in 2019 with an increase of 157%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, transport container imports surged to $X in 2022. Over the period under review, imports, however, saw a deep reduction. The pace of growth was the most pronounced in 2019 with an increase of 165%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), the United States (X units) and the Netherlands (X units) were the main suppliers of transport container imports to Latvia, together comprising 69% of total imports. Germany, Belarus, Lithuania, Poland and Belgium lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belarus (with a CAGR of +134.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest transport container suppliers to Latvia were China ($X), the Netherlands ($X) and Germany ($X), together comprising 65% of total imports.

China, with a CAGR of +132.2%, saw the highest growth rate of the value of imports, among 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 transport container import price amounted to $X per unit, which is down by -6% against the previous year. Over the period under review, the import price recorded a perceptible slump. The most prominent rate of growth was recorded in 2016 an increase of 77% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood 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 Lithuania ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+17.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform