Latvia: Worked Slate Market 2024

Worked Slate Market Size in Latvia

For the third year in a row, the Latvian worked slate market recorded growth in sales value, which increased by 30% to $X in 2022. In general, consumption continues to indicate a strong increase. Worked slate consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Worked Slate Exports

Exports from Latvia

After three years of growth, shipments abroad of worked slate decreased by -29% to X tons in 2022. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 4,440% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then reduced rapidly in the following year.

In value terms, worked slate exports shrank notably to $X in 2022. In general, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 2,138%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Estonia (X tons) was the main destination for worked slate exports from Latvia, with a 74% share of total exports. Moreover, worked slate exports to Estonia exceeded the volume sent to the second major destination, Lithuania (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia stood at +29.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+45.5% per year) and Russia (+10.5% per year).

In value terms, the largest markets for worked slate exported from Latvia were Estonia ($X), Lithuania ($X) and Russia ($X), with a combined 100% share of total exports.

Lithuania, with a CAGR of +54.6%, recorded the highest rates of growth with regard to 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 worked slate export price stood at $X per ton in 2022, shrinking by -21.5% against the previous year. Overall, the export price saw a abrupt decrease. The growth pace was the most rapid in 2016 an increase of 62%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Estonia ($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 Norway (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Slate Imports

Imports into Latvia

For the third consecutive year, Latvia recorded growth in purchases abroad of worked slate, which increased by 53% to X tons in 2022. Over the period under review, imports showed strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 595% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, worked slate imports dropped to $X in 2022. In general, imports enjoyed a resilient increase. The growth pace was the most rapid in 2017 with an increase of 281% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest worked slate supplier to Latvia, with a 58% share of total imports. Moreover, worked slate imports from Brazil exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), threefold. The third position in this ranking was held by Spain (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at +54.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+3.4% per year) and Spain (-1.8% per year).

In value terms, Brazil ($X) constituted the largest supplier of worked slate to Latvia, comprising 39% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by Lithuania, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil amounted to +68.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+21.0% per year) and Lithuania (+12.2% per year).

Import Prices by Country

The average worked slate import price stood at $X per ton in 2022, waning by -38.7% against the previous year. Over the period under review, the import price, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2013 an increase of 163% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then declined markedly 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 China ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform