Price for Lubricating Preparations Not for the Treatment of Materials in Latvia - 2023
Contents:
- Price for Lubricating Preparations Not for the Treatment of Materials in Latvia (CIF) - 2023
- Price for Lubricating Preparations Not for the Treatment of Materials in Latvia (FOB) - 2022
- Imports of Lubricating Preparations Not for the Treatment of Materials in Latvia
- Exports of Lubricating Preparations Not for the Treatment of Materials in Latvia
Price for Lubricating Preparations Not for the Treatment of Materials in Latvia (CIF) - 2023
The average import price for lubricating preparations not for the treatment of materials stood at $6,402 per ton in September 2023, remaining stable against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in December 2022 when the average import price increased by 34% m-o-m. Over the period under review, average import prices attained the maximum at $7,906 per ton in June 2023; however, from July 2023 to September 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was the Netherlands ($13,447 per ton), while the price for Spain ($2,637 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Lubricating Preparations Not for the Treatment of Materials in Latvia (FOB) - 2022
The average export price for lubricating preparations not for the treatment of materials stood at $4,057 per ton in 2022, surging by 8.3% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +9.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 an increase of 142% against the previous year. The export price peaked at $5,227 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($7,828 per ton), while the average price for exports to Poland ($1,783 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 Jordan (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Lubricating Preparations Not for the Treatment of Materials in Latvia
In 2022, purchases abroad of lubricating preparations not for the treatment of materials decreased by -11.7% to 6.4K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +5.5% 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 2020 with an increase of 26%.
In value terms, imports of lubricating preparations not for the treatment of materials contracted to $40M in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +15.7% 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 +55.0% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 27% against the previous year.
| Import of Lubricating Preparations Not for the Treatment of Materials in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 7.9 | 13.5 | 19.6 | 17.2 | 29.6% |
| Poland | 3.7 | 3.9 | 4.6 | 4.9 | 9.8% |
| Estonia | 2.4 | 2.6 | 2.9 | 3.6 | 14.5% |
| Lithuania | 3.2 | 3.4 | 4.1 | 3.4 | 2.0% |
| Finland | 1.8 | 1.6 | 2.4 | 2.6 | 13.0% |
| United Kingdom | 1.1 | 1.4 | 2.2 | 2.1 | 24.1% |
| Belgium | 2.5 | 1.8 | 1.4 | 1.1 | -23.9% |
| Others | 2.9 | 4.4 | 3.6 | 4.6 | 16.6% |
| Total | 25.5 | 32.5 | 40.7 | 39.5 | 15.7% |
Top Suppliers of Lubricating Preparations Not for the Treatment of Materials to Latvia in 2022:
- Germany (2074.4 tons)
- Poland (1143.7 tons)
- Estonia (931.7 tons)
- Lithuania (684.0 tons)
- Finland (363.1 tons)
- United Kingdom (333.9 tons)
- Belgium (186.9 tons)
Exports of Lubricating Preparations Not for the Treatment of Materials in Latvia
In 2022, approx. 4.7K tons of lubricating preparations not for the treatment of materials were exported from Latvia; growing by 3.2% against 2021. Overall, exports posted a significant increase. The growth pace was the most rapid in 2020 with an increase of 88%. The exports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, exports of lubricating preparations not for the treatment of materials expanded rapidly to $19M in 2022. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 65%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Lubricating Preparations Not for the Treatment of Materials in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Uzbekistan | 0.3 | 3.2 | 6.0 | 6.0 | 171.4% |
| Estonia | 2.2 | 2.5 | 2.9 | 3.2 | 13.3% |
| Lithuania | 2.0 | 1.3 | 1.8 | 2.1 | 1.6% |
| Norway | 0.5 | 0.9 | 1.2 | 1.6 | 47.4% |
| Russia | 0.8 | 2.8 | 1.3 | 1.6 | 26.0% |
| Slovakia | N/A | 0.1 | 0.2 | 0.7 | 164.6% |
| Italy | 0.1 | N/A | N/A | 0.5 | 71.0% |
| Turkey | N/A | 0.1 | 0.3 | 0.3 | 73.2% |
| Czech Republic | 0.1 | N/A | 0.3 | 0.2 | 26.0% |
| Others | 1.6 | 1.6 | 3.0 | 2.9 | 21.9% |
| Total | 7.6 | 12.5 | 17.0 | 19.0 | 35.7% |
Top Export Markets for Lubricating Preparations Not for the Treatment of Materials from Latvia in 2022:
- Uzbekistan (2261.2 tons)
- Estonia (483.9 tons)
- Lithuania (348.1 tons)
- Slovakia (231.0 tons)
- Russia (228.4 tons)
- Norway (206.9 tons)
- Italy (154.1 tons)
- Czech Republic (94.9 tons)
- Turkey (78.6 tons)
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This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Latvia.
641
This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
106
This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Latvia.
641
This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
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