Latvia - Agricultural Appliances - Market Analysis, Forecast, Size, Trends And Insights
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View PricingAgricultural Appliance Price in Latvia - 2023
Contents:
- Agricultural Appliance Price in Latvia (CIF) - 2023
- Agricultural Appliance Price in Latvia (FOB) - 2023
- Agricultural Appliance Imports in Latvia
- Agricultural Appliance Exports in Latvia
Agricultural Appliance Price in Latvia (CIF) - 2023
In August 2023, the average agricultural appliance import price amounted to $18.0 per unit, rising by 19% against the previous month. Over the period under review, the import price, however, continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 251% m-o-m. Over the period under review, average import prices hit record highs at $27.5 per unit in August 2022; however, from September 2022 to August 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Germany ($66.2 per unit), while the price for Italy ($9.2 per unit) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Germany (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Agricultural Appliance Price in Latvia (FOB) - 2023
The average agricultural appliance export price stood at $18.2 per unit in August 2023, shrinking by -6.1% against the previous month. In general, the export price continues to indicate a deep downturn. The growth pace was the most rapid in January 2023 when the average export price increased by 456% month-to-month. Over the period under review, the average export prices attained the peak figure at $40.6 per unit in August 2022; however, from September 2022 to August 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In August 2023, the country with the highest price was Russia ($24.3 per unit), while the average price for exports to Estonia ($9.1 per unit) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+366.8%), while the prices for the other major destinations experienced more modest paces of growth.
Agricultural Appliance Imports in Latvia
In 2022, imports of agricultural appliances into Latvia expanded sharply to 227K units, growing by 12% against the previous year's figure. Overall, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +15.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 21%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, agricultural appliance imports skyrocketed to $2.8M in 2022. In general, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +9.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Agricultural Appliance in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Finland | 70.7 | 35.4 | 62.8 | 837 | 127.9% |
| Italy | 307 | 306 | 489 | 659 | 29.0% |
| Lithuania | 378 | 165 | 220 | 348 | -2.7% |
| Spain | 4.5 | 31.4 | 22.0 | 213 | 261.7% |
| Sweden | 293 | 294 | 231 | 125 | -24.7% |
| United Kingdom | 0.4 | 0.1 | 1.3 | 107 | 544.3% |
| Poland | 155 | 75.1 | 89.4 | 68.8 | -23.7% |
| China | 97.9 | 38.1 | 75.9 | 65.5 | -12.5% |
| Israel | 63.5 | 107 | 29.0 | 32.2 | -20.3% |
| Others | 763 | 661 | 818 | 342 | -23.5% |
| Total | 2,133 | 1,714 | 2,038 | 2,798 | 9.5% |
Top Suppliers of Agricultural Appliance to Latvia in 2022:
- Italy (119.4K units)
- Lithuania (25.0K units)
- Finland (18.9K units)
- Poland (11.4K units)
- Spain (11.1K units)
- United Kingdom (9.1K units)
- Israel (5.9K units)
- Sweden (4.7K units)
- China (3.6K units)
Agricultural Appliance Exports in Latvia
For the fourth year in a row, Latvia recorded growth in overseas shipments of agricultural appliances, which increased by 86% to 118K units in 2022. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, agricultural appliance exports surged to $1.7M in 2022. In general, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Agricultural Appliance in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 22.7 | 316 | 308 | 1,225 | 277.9% |
| Lithuania | 258 | 336 | 218 | 339 | 9.5% |
| Estonia | 8.4 | 108 | 59.9 | 84.7 | 116.0% |
| France | 241 | N/A | N/A | 0.1 | -92.5% |
| Kazakhstan | N/A | N/A | 298 | N/A | 0% |
| Others | 56.5 | 23.5 | 28.5 | 40.6 | -10.4% |
| Total | 586 | 783 | 912 | 1,690 | 42.3% |
Top Export Markets for Agricultural Appliance from Latvia in 2022:
- Russia (75.9K units)
- Lithuania (31.6K units)
- Estonia (7.9K units)
This report provides an in-depth analysis of the agricultural appliance market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28306010 - Agricultural or horticultural watering appliances
Country coverage:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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