Latvia: Wooden Office Furniture Market 2020

Wooden Office Furniture Market Size in Latvia

The revenue of the wooden office furniture market in Latvia amounted to $X in 2018, growing by X% against the previous year. Over the period under review, wooden office furniture consumption, however, continues to indicate a deep decrease. The growth pace was the most rapid in 2015 when the market value increased by X% year-to-year. Latvia wooden office furniture consumption peaked at $X in 2007; however, from 2008 to 2018, consumption remained at a lower figure.

Wooden Office Furniture Production in Latvia

In value terms, wooden office furniture production stood at $X in 2018 estimated in export prices. In general, wooden office furniture production continues to indicate a deep slump. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Latvia wooden office furniture production peaked at $X in 2007; however, from 2008 to 2018, production remained at a lower figure.

Wooden Office Furniture Exports

Exports from Latvia

In 2018, the amount of wooden furniture of a kind used in offices exported from Latvia amounted to X units, falling by -X% against the previous year. Overall, wooden office furniture exports, however, continue to indicate a modest expansion. The growth pace was the most rapid in 2008 with an increase of X% against the previous year. In that year, wooden office furniture exports attained their peak of X units. From 2009 to 2018, the growth of wooden office furniture exports remained at a somewhat lower figure.

In value terms, wooden office furniture exports stood at $X in 2018. Overall, wooden office furniture exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2008 when exports increased by X% against the previous year. Over the period under review, wooden office furniture exports reached their maximum at $X in 2017, and then declined slightly in the following year.

Exports by Country

In 2018, China (X units), distantly followed by Canada (X units), Poland (X units), Malaysia (X units), Germany (X units) and Lithuania (X units) were the largest exporters of wooden furniture of a kind used in offices, together mixing up X% of total exports. Vietnam (X units), Italy (X units), the U.S. (X units), Sweden (X units), Turkey (X units) and the Czech Republic (X units) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to wooden office furniture exports from China stood at +X%. At the same time, Lithuania (+X%), Vietnam (+X%), Poland (+X%), the Czech Republic (+X%) and Canada (+X%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Turkey experienced a relatively flat trend pattern. By contrast, Malaysia (-X%), the U.S. (-X%), Germany (-X%), Sweden (-X%) and Italy (-X%) illustrated a downward trend over the same period. Lithuania (+X p.p.), China (+X p.p.), Poland (+X p.p.), Vietnam (+X p.p.) and Canada (+X p.p.) significantly strengthened its position in terms of the global exports, while the U.S., Sweden, Germany and Italy saw its share reduced by -X%, -X%, -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

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

Export Prices by Country

In 2018, the wooden office furniture export price in Latvia amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the export price indicated a strong increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, wooden office furniture export price increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. Latvia export price peaked at $X per unit in 2015; however, from 2016 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

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

Wooden Office Furniture Imports

Imports into Latvia

In 2018, the wooden office furniture imports into Latvia amounted to X units, surging by X% against the previous year. Over the period under review, wooden office furniture imports, however, continue to indicate a deep deduction. The most prominent rate of growth was recorded in 2011 when imports increased by X% year-to-year. Over the period under review, wooden office furniture imports attained their maximum at X units in 2008; however, from 2009 to 2018, imports remained at a lower figure.

In value terms, wooden office furniture imports totaled $X in 2018. Over the period under review, wooden office furniture imports, however, continue to indicate an abrupt contraction. The pace of growth was the most pronounced in 2011 with an increase of X% y-o-y. Latvia imports peaked at $X in 2008; however, from 2009 to 2018, imports remained at a lower figure.

Imports by Country

In 2018, the U.S. (X units) represented the key importer of wooden furniture of a kind used in offices, constituting X% of total imports. Saudi Arabia (X units) ranks second in terms of the total imports with a X% share, followed by Malaysia (X%) and the United Arab Emirates (X%). Germany (X units), France (X units), the UK (X units), South Korea (X units), Canada (X units), Australia (X units), the Netherlands (X units) and Russia (X units) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to wooden office furniture imports into the U.S. stood at -X%. At the same time, Malaysia (+X%), Saudi Arabia (+X%), South Korea (+X%), the United Arab Emirates (+X%), Australia (+X%) and Germany (+X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Canada (-X%), the Netherlands (-X%), France (-X%), the UK (-X%) and Russia (-X%) illustrated a downward trend over the same period. Saudi Arabia (+X p.p.), Malaysia (+X p.p.) and the United Arab Emirates (+X p.p.) significantly strengthened its position in terms of the global imports, while Canada, the Netherlands, Russia, France, the UK and the U.S. saw its share reduced by -X%, -X%, -X%, -X%, -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the U.S., wooden office furniture imports remained relatively stable over the period from 2007-2018. In the other countries, the average annual rates were as follows: France (-X% per year) and Germany (+X% per year).

Import Prices by Country

In 2018, the wooden office furniture import price in Latvia amounted to $X per unit, falling by -X% against the previous year. In general, the import price indicated modest growth 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, wooden office furniture import price increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2012 an increase of X% against the previous year. Over the period under review, the import prices for wooden furniture of a kind used in offices reached their maximum at $X per unit in 2013; however, from 2014 to 2018, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform