Price for Machinery; Parts of the Machinery of Heading No. 8425 in Latvia - 2023
Contents:
- Price for Machinery; Parts of the Machinery of Heading No. 8425 in Latvia (CIF) - 2022
- Price for Machinery; Parts of the Machinery of Heading No. 8425 in Latvia (FOB) - 2022
- Imports of Machinery; Parts of the Machinery of Heading No. 8425 in Latvia
- Exports of Machinery; Parts of the Machinery of Heading No. 8425 in Latvia
Price for Machinery; Parts of the Machinery of Heading No. 8425 in Latvia (CIF) - 2022
The average import price for machinery; parts of the machinery of heading no. 8425 stood at $11,861 per ton in 2022, falling by -17.9% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 112% against the previous year. The import price peaked at $14,717 per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($34,129 per ton), while the price for China ($2,925 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Machinery; Parts of the Machinery of Heading No. 8425 in Latvia (FOB) - 2022
The average export price for machinery; parts of the machinery of heading no. 8425 stood at $11,961 per ton in 2022, reducing by -10.3% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 77% against the previous year. Over the period under review, the average export prices hit record highs at $19,737 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($33,977 per ton), while the average price for exports to Estonia ($4,608 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 Italy (+23.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Machinery; Parts of the Machinery of Heading No. 8425 in Latvia
In 2022, purchases abroad of machinery; parts of the machinery of heading no. 8425 decreased by -9.9% to 55 tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +2.0% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 19% against the previous year. As a result, imports reached the peak of 62 tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of machinery; parts of the machinery of heading no. 8425 fell rapidly to $656K in 2022. In general, total imports indicated a notable increase from 2019 to 2022: its value increased at an average annual rate of +2.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 31% against the previous year.
| Import of Machinery; Parts of the Machinery of Heading No. 8425 in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 282 | 312 | 412 | 254 | -3.4% |
| Germany | 143 | 99.3 | 118 | 141 | -0.5% |
| Netherlands | 5.7 | 10.3 | 13.3 | 33.2 | 79.9% |
| Lithuania | 23.2 | 10.7 | 41.0 | 25.6 | 3.3% |
| Estonia | 27.3 | 9.9 | 144 | 18.8 | -11.7% |
| Poland | 16.6 | 34.0 | 28.8 | 17.2 | 1.2% |
| China | 41.1 | 14.4 | 12.0 | 15.7 | -27.4% |
| Sweden | 13.4 | 207 | 57.4 | 5.8 | -24.4% |
| Others | 50.2 | 92.4 | 61.4 | 145 | 42.4% |
| Total | 602 | 790 | 887 | 656 | 2.9% |
Top Suppliers of Machinery; Parts of the Machinery of Heading No. 8425 to Latvia in 2022:
- Germany (15.0 tons)
- Italy (14.2 tons)
- Lithuania (5.8 tons)
- China (5.4 tons)
- Netherlands (4.5 tons)
- Poland (4.4 tons)
- Estonia (1.2 tons)
- Sweden (0.2 tons)
Exports of Machinery; Parts of the Machinery of Heading No. 8425 in Latvia
In 2022, exports of machinery; parts of the machinery of heading no. 8425 from Latvia shrank remarkably to 7 tons, waning by -55.3% compared with the year before. Over the period under review, exports, however, showed a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by 332% against the previous year. As a result, the exports reached the peak of 16 tons, and then dropped rapidly in the following year.
In value terms, exports of machinery; parts of the machinery of heading no. 8425 fell sharply to $83K in 2022. In general, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 368% against the previous year. As a result, the exports attained the peak of $208K, and then reduced remarkably in the following year.
| Export of Machinery; Parts of the Machinery of Heading No. 8425 in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 14.8 | N/A | 35.4 | 18.4 | 7.5% |
| Lithuania | 12.2 | 10.6 | 59.0 | 16.1 | 9.7% |
| Russia | 7.7 | 8.1 | 84.0 | 9.9 | 8.7% |
| Estonia | 15.5 | 14.3 | 17.4 | 9.6 | -14.8% |
| Norway | N/A | N/A | 2.8 | 5.8 | 107.1% |
| Sweden | 1.7 | 2.1 | 3.0 | 3.0 | 20.8% |
| United States | N/A | N/A | N/A | 2.4 | 0% |
| Poland | 5.2 | 2.0 | 0.4 | 0.2 | -66.2% |
| Others | 9.2 | 7.4 | 5.7 | 17.8 | 24.6% |
| Total | 66.3 | 44.4 | 208 | 83.3 | 7.9% |
Top Export Markets for Machinery; Parts of the Machinery of Heading No. 8425 from Latvia in 2022:
- Estonia (2093.0 kg)
- Lithuania (2019.0 kg)
- Spain (969.0 kg)
- Russia (821.0 kg)
- United States (342.0 kg)
- Sweden (261.0 kg)
- Norway (171.0 kg)
- Poland (27.0 kg)
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