Latvia: Vacuum Cleaner Market 2020

Vacuum Cleaner Market Size in Latvia

The revenue of the vacuum cleaner market in Latvia amounted to $X in 2018, rising by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, vacuum cleaner consumption, however, continues to indicate an abrupt reduction. The growth pace was the most rapid in 2016 when the market value increased by X% year-to-year. Over the period under review, the vacuum cleaner market attained its maximum level at $X in 2007; however, from 2008 to 2018, consumption remained at a lower figure.

Vacuum Cleaner Exports

Exports from Latvia

In 2018, the amount of vacuum cleaners exported from Latvia totaled X units, leveling off at the previous year. Overall, vacuum cleaner exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2010 when exports increased by X% y-o-y. Latvia exports peaked at X units in 2015; however, from 2016 to 2018, exports remained at a lower figure.

In value terms, vacuum cleaner exports amounted to $X in 2018. In general, vacuum cleaner exports continue to indicate a remarkable expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, vacuum cleaner exports reached their maximum at $X in 2015; however, from 2016 to 2018, exports stood at a somewhat lower figure.

Exports by Country

In 2018, China (X units) was the main exporter of vacuum cleaners, creating X% of total exports. It was distantly followed by Malaysia (X units) and Germany (X units), together creating a X% share of total exports. Vietnam (X units), Hungary (X units), Romania (X units) and Mexico (X units) occupied a little share of total exports.

Exports from China increased at an average annual rate of +X% from 2007 to 2018. At the same time, Romania (+X%), Vietnam (+X%), Malaysia (+X%), Germany (+X%) and Hungary (+X%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. By contrast, Mexico (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of Malaysia, China, Germany, Vietnam and Romania increased by +X%, +X%, +X%, +X% and +X% percentage points, while Mexico (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest vacuum cleaner supplier from Latvia, comprising X% of global exports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of global exports. It was followed by Germany, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in China totaled +X%. In the other countries, the average annual rates were as follows: Malaysia (+X% per year) and Germany (+X% per year).

Export Prices by Country

In 2018, the vacuum cleaner export price in Latvia amounted to $X per unit, surging by X% against the previous year. Overall, the vacuum cleaner export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X% y-o-y. Over the period under review, the export prices for vacuum cleaners attained their maximum at $X per unit in 2016; however, from 2017 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Germany ($X per unit), while Romania ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced mixed trends in the export price figures.

Vacuum Cleaner Imports

Imports into Latvia

Vacuum cleaner imports into Latvia amounted to X units in 2018, going up by X% against the previous year. Over the period under review, vacuum cleaner imports, however, continue to indicate a deep curtailment. The pace of growth appeared the most rapid in 2011 when imports increased by X% y-o-y. Over the period under review, vacuum cleaner imports attained their maximum at X units in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

In value terms, vacuum cleaner imports totaled $X in 2018. In general, vacuum cleaner imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% year-to-year. Latvia imports peaked at $X in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

Imports by Country

In 2018, the U.S. (X units) represented the major importer of vacuum cleaners, comprising X% of total imports. Germany (X units) ranks second in terms of the total imports with a X% share, followed by Japan (X%), the UK (X%) and France (X%). Russia (X units), Australia (X units), the Netherlands (X units), Canada (X units), Italy (X units), Belgium (X units) and Spain (X units) took a minor share of total imports.

The U.S. experienced a relatively flat trend pattern of vacuum cleaners imports. At the same time, Australia (+X%), the Netherlands (+X%), Germany (+X%), Japan (+X%), France (+X%), Spain (+X%) and Russia (+X%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. Belgium, Canada, Italy and the UK experienced a relatively flat trend pattern. While the share of Germany (+X p.p.), Japan (+X p.p.), the U.S. (+X p.p.) and Australia (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported vacuum cleaners into Latvia, comprising X% of global imports. The second position in the ranking was occupied by Germany ($X), with a X% share of global imports. It was followed by Japan, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in the U.S. totaled +X%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Japan (+X% per year).

Import Prices by Country

In 2018, the vacuum cleaner import price in Latvia amounted to $X per unit, surging by X% against the previous year. In general, the import price indicated a strong expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, vacuum cleaner import price increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2014 an increase of X% year-to-year. Over the period under review, the import prices for vacuum cleaners attained their peak figure in 2018 and is expected to retain its growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Canada ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Japan, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform