Latvia: Winding Wire Market 2025

Winding Wire Market Size in Latvia

The Latvian winding wire market skyrocketed to $X in 2022, increasing by 29% 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). Over the period under review, consumption, however, continues to indicate a perceptible downturn. Winding wire consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Winding Wire Exports

Exports from Latvia

In 2022, approx. X tons of winding wire for electrical purposes were exported from Latvia; reducing by -20.6% against 2021. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 25%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, winding wire exports dropped to $X in 2022. In general, exports continue to indicate a noticeable descent. The growth pace was the most rapid in 2018 when exports increased by 32%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons) was the main destination for winding wire exports from Latvia, accounting for a 57% share of total exports. Moreover, winding wire exports to France exceeded the volume sent to the second major destination, Germany (X tons), fourfold. Estonia (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France totaled -11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-1.0% per year) and Estonia (-9.1% per year).

In value terms, France ($X) remains the key foreign market for winding wire for electrical purposes exports from Latvia, comprising 75% of total exports. The second position in the ranking was held by Germany ($X), with a 17% share of total exports. It was followed by Estonia, with a 0.8% share.

From 2012 to 2022, the average annual growth rate of value to France stood at -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+2.2% per year) and Estonia (-8.4% per year).

Export Prices by Country

The average winding wire export price stood at $X per ton in 2022, picking up by 14% against the previous year. In general, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +9.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, winding wire export price decreased by -6.0% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 59%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the 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 France ($X per ton), while the average price for exports to Lithuania ($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 France (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Winding Wire Imports

Imports into Latvia

Winding wire imports into Latvia surged to X tons in 2022, increasing by 17% on 2021. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 306% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, winding wire imports soared to $X in 2022. Over the period under review, imports saw resilient growth. The growth pace was the most rapid in 2019 with an increase of 111% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Germany (X tons) constituted the largest winding wire supplier to Latvia, accounting for a 48% share of total imports. Moreover, winding wire imports from Germany exceeded the figures recorded by the second-largest supplier, Moldova (X tons), fourfold. The Netherlands (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +79.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Moldova (+4.6% per year) and the Netherlands (+68.0% per year).

In value terms, Germany ($X), Moldova ($X) and the Netherlands ($X) appeared to be the largest winding wire suppliers to Latvia, together comprising 63% of total imports.

The Netherlands, with a CAGR of +62.2%, 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 winding wire import price amounted to $X per ton, increasing by 16% against the previous year. Overall, the import price, however, showed a perceptible decline. The pace of growth was the most pronounced in 2021 an increase of 64% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform