Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Latvia - 2023
Contents:
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Latvia (FOB) - 2023
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Latvia (CIF) - 2023
- Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Latvia
- Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Latvia
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Latvia (FOB) - 2023
The average export price for furniture; wooden, other than for office, kitchen or bedroom use stood at $91.3 per unit in November 2023, dropping by -11.6% against the previous month. In general, the export price saw a mild slump. The growth pace was the most rapid in April 2023 when the average export price increased by 21% m-o-m. As a result, the export price attained the peak level of $112 per unit. From May 2023 to November 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Denmark ($161 per unit), while the average price for exports to Romania ($59.0 per unit) was amongst the lowest.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Latvia (CIF) - 2023
In November 2023, the average import price for furniture; wooden, other than for office, kitchen or bedroom use amounted to $55.0 per unit, increasing by 1.6% against the previous month. Over the period under review, the import price, however, saw a pronounced shrinkage. The pace of growth was the most pronounced in March 2023 when the average import price increased by 37% m-o-m. Over the period under review, average import prices reached the peak figure at $79.2 per unit in June 2023; however, from July 2023 to November 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Lithuania ($68.3 per unit), while the price for Sweden ($23.2 per unit) was amongst the lowest.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Poland (+0.5%), while the prices for the other major suppliers experienced a decline.
Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Latvia
Exports of furniture; wooden, other than for office, kitchen or bedroom use from Latvia stood at 1.9M units in 2022, with an increase of 8.5% on the previous year's figure. The total export volume increased at an average annual rate of +13.5% from 2019 to 2022; however, 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 21% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to see gradual growth in the immediate term.
In value terms, exports of furniture; wooden, other than for office, kitchen or bedroom use reached $151M in 2022. The total export value increased at an average annual rate of +11.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 27%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 19.8 | 19.5 | 15.2 | 22.4 | 4.2% |
| Denmark | 7.1 | 11.0 | 17.7 | 19.9 | 41.0% |
| France | 10.6 | 9.2 | 11.3 | 13.6 | 8.7% |
| Estonia | 7.4 | 10.4 | 12.0 | 10.8 | 13.4% |
| Sweden | 11.1 | 7.3 | 11.2 | 10.8 | -0.9% |
| United Kingdom | 8.4 | 7.6 | 11.4 | 10.6 | 8.1% |
| Netherlands | 4.5 | 3.8 | 5.5 | 7.5 | 18.6% |
| Spain | 1.8 | 1.5 | 3.9 | 6.6 | 54.2% |
| Poland | 3.8 | 3.6 | 5.3 | 5.7 | 14.5% |
| Lithuania | 6.7 | 4.6 | 5.7 | 5.1 | -8.7% |
| Norway | 2.6 | 3.7 | 6.4 | 4.9 | 23.5% |
| United States | 2.1 | 3.0 | 4.6 | 4.4 | 28.0% |
| Italy | 2.0 | 1.7 | 2.6 | 2.6 | 9.1% |
| Others | 20.6 | 26.7 | 31.9 | 26.2 | 8.3% |
| Total | 108 | 114 | 145 | 151 | 11.8% |
Top Export Markets for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use from Latvia in 2022:
- Germany (441.5K units)
- France (211.4K units)
- Estonia (205.1K units)
- United Kingdom (152.7K units)
- Denmark (144.4K units)
- Sweden (103.3K units)
- Netherlands (91.5K units)
- Poland (83.9K units)
- Lithuania (62.6K units)
- Spain (56.3K units)
- Italy (38.3K units)
- United States (35.6K units)
- Norway (32.8K units)
Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Latvia
After three years of growth, supplies from abroad of furniture; wooden, other than for office, kitchen or bedroom use decreased by -15.2% to 828K units in 2022. Over the period under review, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 55%. As a result, imports attained the peak of 976K units, and then dropped dramatically in the following year.
In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use reduced to $48M in 2022. The total import value increased at an average annual rate of +5.8% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 16% against the previous year. Imports peaked at $54M in 2021, and then contracted in the following year.
| Import of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 14.7 | 16.5 | 18.9 | 17.2 | 5.4% |
| Lithuania | 4.1 | 5.8 | 8.3 | 9.3 | 31.4% |
| Italy | 5.1 | 6.9 | 7.6 | 5.8 | 4.4% |
| Ukraine | 2.8 | 2.8 | 2.5 | 2.6 | -2.4% |
| Sweden | 0.5 | 0.8 | 0.9 | 1.7 | 50.4% |
| China | 2.4 | 3.0 | 1.6 | 1.2 | -20.6% |
| Russia | 1.2 | 1.6 | 2.1 | 1.1 | -2.9% |
| Belarus | 2.4 | 3.0 | 2.4 | 0.9 | -27.9% |
| Others | 7.6 | 7.1 | 9.4 | 8.8 | 5.0% |
| Total | 40.9 | 47.5 | 53.7 | 48.4 | 5.8% |
Top Suppliers of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use to Latvia in 2022:
- Poland (376.9K units)
- Lithuania (129.3K units)
- Ukraine (67.1K units)
- Sweden (54.4K units)
- Italy (47.0K units)
- Belarus (29.5K units)
- Russia (26.7K units)
- China (14.5K units)
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