Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Latvia - 2023
Contents:
- Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Latvia (CIF) - 2023
- Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Latvia (FOB) - 2022
- Imports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Latvia
- Exports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Latvia
Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Latvia (CIF) - 2023
The average import price for articles of apparel and clothing accessories, of leather or of composition leather stood at $24.2 per unit in November 2023, growing by 3.4% against the previous month. Overall, import price indicated a notable increase from November 2022 to November 2023: its price increased at an average monthly rate of +2.8% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for articles of apparel and clothing accessories, of leather or of composition leather decreased by -36.6% against August 2023 indices. The growth pace was the most rapid in January 2023 an increase of 51% m-o-m. The import price peaked at $38.1 per unit in August 2023; however, from September 2023 to November 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Italy ($112 per unit), while the price for Pakistan ($9.0 per unit) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Spain (+20.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Latvia (FOB) - 2022
In 2022, the average export price for articles of apparel and clothing accessories, of leather or of composition leather amounted to $75 per unit, growing by 6.9% against the previous year. In general, the export price continues to indicate a resilient increase. The growth pace was the most rapid in 2019 when the average export price increased by 114% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($87 per unit), while the average price for exports to Estonia ($37 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Latvia
For the fourth consecutive year, Latvia recorded growth in overseas purchases of articles of apparel and clothing accessories, of leather or of composition leather, which increased by 4.4% to 596K units in 2022. The total import volume increased at an average annual rate of +3.9% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 5%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.
In value terms, imports of articles of apparel and clothing accessories, of leather or of composition leather reduced modestly to $12M in 2022. The total import value increased at an average annual rate of +7.5% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 22% against the previous year. Over the period under review, imports of attained the peak figure at $13M in 2021, and then shrank in the following year.
| Import of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 1,003 | 1,545 | 2,495 | 2,343 | 32.7% |
| Estonia | 2,633 | 2,539 | 2,646 | 2,292 | -4.5% |
| Germany | 1,030 | 1,592 | 1,891 | 1,347 | 9.4% |
| Lithuania | 823 | 1,150 | 1,095 | 1,345 | 17.8% |
| Spain | 273 | 303 | 295 | 896 | 48.6% |
| Poland | 1,667 | 874 | 927 | 773 | -22.6% |
| Pakistan | 453 | 351 | 671 | 672 | 14.0% |
| Finland | 489 | 514 | 612 | 628 | 8.7% |
| Netherlands | 359 | 616 | 537 | 508 | 12.3% |
| Denmark | 263 | 391 | 340 | 136 | -19.7% |
| China | 75.7 | 77.8 | 53.2 | 27.9 | -28.3% |
| Others | 792 | 2,060 | 1,329 | 1,285 | 17.5% |
| Total | 9,859 | 12,013 | 12,893 | 12,253 | 7.5% |
Top Suppliers of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather to Latvia in 2022:
- Estonia (171.0K units)
- Pakistan (86.8K units)
- Lithuania (74.1K units)
- Finland (53.7K units)
- Germany (38.1K units)
- Italy (29.4K units)
- Spain (27.3K units)
- Poland (25.8K units)
- Netherlands (21.1K units)
- Denmark (11.8K units)
- China (4.6K units)
Exports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Latvia
For the third consecutive year, Latvia recorded decline in shipments abroad of articles of apparel and clothing accessories, of leather or of composition leather, which decreased by -21.1% to 54K units in 2022. In general, exports showed a abrupt downturn. The smallest decline of -0.2% was in 2020. The exports peaked at 97K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, exports of articles of apparel and clothing accessories, of leather or of composition leather reduced dramatically to $4.1M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +11.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -18.0% against 2020 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 70% against the previous year. As a result, the exports reached the peak of $5M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 1,220 | 3,792 | 3,617 | 3,154 | 37.2% |
| Estonia | 657 | 463 | 331 | 270 | -25.7% |
| Lithuania | 748 | 509 | 481 | 262 | -29.5% |
| Poland | 7.4 | 8.5 | 95.8 | 77.9 | 119.2% |
| Others | 279 | 180 | 283 | 294 | 1.8% |
| Total | 2,911 | 4,952 | 4,808 | 4,058 | 11.7% |
Top Export Markets for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather from Latvia in 2022:
- Russia (36.3K units)
- Estonia (7.3K units)
- Lithuania (7.0K units)
- Poland (0.9K units)
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