Latvia: Vices And Clamps Market 2025

Vices And Clamps Market Size in Latvia

After five years of growth, the Latvian vices and clamps market decreased by -17.9% to $X in 2022. In general, consumption, however, enjoyed a remarkable increase. Vices and clamps consumption peaked at $X in 2021, and then shrank notably in the following year.

Vices And Clamps Exports

Exports from Latvia

In 2022, overseas shipments of vices and clamps decreased by -5.2% to X tons, falling for the second year in a row after three years of growth. In general, exports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 188% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, vices and clamps exports reduced sharply to $X in 2022. Over the period under review, exports, however, saw a buoyant increase. The growth pace was the most rapid in 2016 with an increase of 206% against the previous year. The exports peaked at $X in 2021, and then declined markedly in the following year.

Exports by Country

Lithuania (X tons), Estonia (X tons) and the UK (X kg) were the main destinations of vices and clamps exports from Latvia, with a combined 95% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +168.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Lithuania ($X) and Russia ($X) appeared to be the largest markets for vices and clamps exported from Latvia worldwide, with a combined 93% share of total exports. The UK and Georgia lagged somewhat behind, together accounting for a further 4.4%.

The UK, with a CAGR of +126.8%, 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

The average vices and clamps export price stood at $X per ton in 2022, with a decrease of -28.3% against the previous year. Overall, the export price recorded a pronounced setback. The pace of growth appeared the most rapid in 2016 when the average export price increased by 75%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

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 Russia ($X per ton), while the average price for exports to Georgia ($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 (+14.1%), while the prices for the other major destinations experienced mixed trend patterns.

Vices And Clamps Imports

Imports into Latvia

After three years of growth, purchases abroad of vices and clamps decreased by -10% to X tons in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.1% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 82%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, vices and clamps imports dropped significantly to $X in 2022. In general, imports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 80%. Imports peaked at $X in 2021, and then contracted dramatically in the following year.

Imports by Country

Poland (X tons), Lithuania (X tons) and Germany (X tons) were the main suppliers of vices and clamps imports to Latvia, together comprising 57% of total imports. China, Estonia, India, Spain, Sweden and Finland lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +190.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vices and clamps suppliers to Latvia were Germany ($X), Poland ($X) and Estonia ($X), together accounting for 57% of total imports. Lithuania, China, Spain, India, Sweden and Finland lagged somewhat behind, together comprising a further 34%.

Among the main suppliers, India, with a CAGR of +103.4%, 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 vices and clamps import price amounted to $X per ton, waning by -9.7% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 17% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

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 Spain ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform