Latvia: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Latvia

The Latvian wooden kitchen furniture market skyrocketed to $X in 2022, increasing by 392% against the previous year. Overall, consumption, however, continues to indicate a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Wooden Kitchen Furniture Production in Latvia

In value terms, wooden kitchen furniture production skyrocketed to $X in 2022 estimated in export price. Overall, production enjoyed strong growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by 99.9% against the previous year. Wooden kitchen furniture production peaked in 2022 and is likely to continue growth in years to come.

Wooden Kitchen Furniture Exports

Exports from Latvia

In 2022, overseas shipments of wooden furniture for kitchens decreased by -37.6% to X units, falling for the second consecutive year after six years of growth. Over the period under review, exports, however, showed prominent growth. The growth pace was the most rapid in 2020 with an increase of 46% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, wooden kitchen furniture exports shrank to $X in 2022. In general, exports, however, saw resilient growth. The pace of growth was the most pronounced in 2020 when exports increased by 89% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Russia (X units), Denmark (X units) and Estonia (X units) were the main destinations of wooden kitchen furniture exports from Latvia, with a combined 47% share of total exports. The UK, Belgium, France, the Netherlands, Sweden, Norway and Lithuania lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +64.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wooden kitchen furniture exported from Latvia were Russia ($X), Denmark ($X) and Estonia ($X), with a combined 47% share of total exports. The UK, Belgium, France, the Netherlands, Sweden, Norway and Lithuania lagged somewhat behind, together accounting for a further 37%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +77.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wooden kitchen furniture export price stood at $X per unit in 2022, surging by 43% against the previous year. Over the period under review, the export price saw resilient growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Norway ($X per unit) and Sweden ($X per unit), while the average price for exports to Belgium ($X per unit) and the Netherlands ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Kitchen Furniture Imports

Imports into Latvia

In 2022, supplies from abroad of wooden furniture for kitchens decreased by -22.4% to X units, falling for the second year in a row after two years of growth. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 71% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wooden kitchen furniture imports fell remarkably to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 43%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Poland (X units), Lithuania (X units) and Ukraine (X units) were the main suppliers of wooden kitchen furniture imports to Latvia, together comprising 78% of total imports. Germany, Italy, Estonia, Finland and Denmark lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +26.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden kitchen furniture suppliers to Latvia were Poland ($X), Lithuania ($X) and Ukraine ($X), with a combined 78% share of total imports. Germany, Italy, Estonia, Finland and Denmark lagged somewhat behind, together accounting for a further 18%.

Finland, with a CAGR of +26.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wooden kitchen furniture import price stood at $X per unit in 2022, picking up by 2.3% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 21% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Denmark ($X per unit) and Finland ($X per unit), while the price for Estonia ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform