Report Update: May 1, 2024

Latvia - Garden Tools - Market Analysis, Forecast, Size, Trends And Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Garden Tool Price in Latvia - 2023

Garden Tool Price in Latvia (CIF) - 2022

In 2022, the average garden tool import price amounted to $8,663 per ton, picking up by 3.1% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 32% against the previous year. The import price peaked at $10,941 per ton in 2013; however, from 2014 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 Sweden ($19,843 per ton), while the price for Belarus ($1,811 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Garden Tool Price in Latvia (FOB) - 2022

The average garden tool export price stood at $9,573 per ton in 2022, picking up by 20% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, garden tool export price increased by +42.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 57% against the previous year. The export price peaked at $13,937 per ton in 2014; however, from 2015 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 Russia ($59,400 per ton), while the average price for exports to Lithuania ($5,270 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 Russia (+21.9%), while the prices for the other major destinations experienced more modest paces of growth.

Garden Tool Imports in Latvia

For the fourth consecutive year, Latvia recorded growth in purchases abroad of garden tools, which increased by 8.5% to 140 tons in 2022. The total import volume increased at an average annual rate of +11.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 19% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, garden tool imports stood at $1.2M in 2022. The total import value increased at an average annual rate of +15.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 40% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Import of Garden Tool in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Finland	286	329	259	343	6.2%
Lithuania	127	118	176	268	28.3%
Poland	64.8	54.1	84.3	170	37.9%
Estonia	92.2	339	121	100	2.7%
Sweden	52.4	76.3	127	96.8	22.7%
China	60.1	28.7	75.6	51.3	-5.1%
Italy	48.2	25.1	50.5	34.0	-11.0%
Russia	8.7	18.1	33.8	1.1	-49.8%
Others	54.0	126	154	145	39.0%
Total	793	1,114	1,081	1,209	15.1%

Top Suppliers of Garden Tool to Latvia in 2022:

Lithuania (34.3 tons)
Poland (34.1 tons)
Finland (32.6 tons)
China (13.6 tons)
Estonia (6.5 tons)
Sweden (4.9 tons)
Italy (3.0 tons)
Russia (0.3 tons)

Garden Tool Exports in Latvia

After three years of growth, overseas shipments of garden tools decreased by -19.9% to 19 tons in 2022. Overall, exports saw a pronounced decline. The pace of growth appeared the most rapid in 2021 with an increase of 16%. As a result, the exports reached the peak of 24 tons, and then contracted notably in the following year.

In value terms, garden tool exports shrank modestly to $186K in 2022. The total export value increased at an average annual rate of +10.2% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 22%.

Export of Garden Tool in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Estonia	6.0	18.7	27.7	66.9	123.4%
Lithuania	98.5	67.2	94.8	55.2	-17.6%
Russia	3.5	37.5	49.5	30.8	106.5%
Armenia	N/A	N/A	N/A	19.3	0%
Germany	2.6	2.8	1.9	3.4	9.4%
Slovenia	0.6	0.9	N/A	2.0	49.4%
Norway	18.6	26.4	2.4	N/A	-64.1%
Others	9.0	15.3	16.8	8.1	-3.5%
Total	139	169	193	186	10.2%

Top Export Markets for Garden Tool from Latvia in 2022:

Lithuania (10.5 tons)
Estonia (6.7 tons)
Armenia (0.5 tons)
Russia (0.5 tons)
Slovenia (0.3 tons)
Germany (0.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the garden tool 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 25731055 - Forks and other hand tools (excluding clasp knives) for agriculture, horticulture or forestry

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
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. 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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023