Price for Machinery; Parts of the Machinery of Heading No. 8427 in Latvia - 2023

Contents:

1. Price for Machinery; Parts of the Machinery of Heading No. 8427 in Latvia (CIF) - 2023
2. Price for Machinery; Parts of the Machinery of Heading No. 8427 in Latvia (FOB) - 2023
3. Imports of Machinery; Parts of the Machinery of Heading No. 8427 in Latvia
4. Exports of Machinery; Parts of the Machinery of Heading No. 8427 in Latvia

Price for Machinery; Parts of the Machinery of Heading No. 8427 in Latvia (CIF) - 2023

In October 2023, the average import price for machinery; parts of the machinery of heading no. 8427 amounted to $27,593 per ton, falling by -2.5% against the previous month. Over the period under review, the import price, however, continues to indicate perceptible growth. The growth pace was the most rapid in August 2023 an increase of 69% m-o-m. Over the period under review, average import prices attained the maximum at $28,304 per ton in September 2023, and then contracted in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was Sweden ($126K per ton), while the price for China ($1,816 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Poland (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Machinery; Parts of the Machinery of Heading No. 8427 in Latvia (FOB) - 2023

The average export price for machinery; parts of the machinery of heading no. 8427 stood at $12,556 per ton in October 2023, surging by 26% against the previous month. Overall, the export price continues to indicate noticeable growth. The most prominent rate of growth was recorded in August 2023 an increase of 232% month-to-month. As a result, the export price attained the peak level of $26,822 per ton. From September 2023 to October 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 Lithuania ($17,082 per ton), while the average price for exports to Estonia ($10,023 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machinery; Parts of the Machinery of Heading No. 8427 in Latvia

After three years of growth, overseas purchases of machinery; parts of the machinery of heading no. 8427 decreased by -3.4% to 464 tons in 2022. The total import volume increased at an average annual rate of +2.6% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 11% against the previous year. As a result, imports attained the peak of 480 tons, and then declined slightly in the following year.

In value terms, imports of machinery; parts of the machinery of heading no. 8427 totaled $6.2M in 2022. The total import value increased at an average annual rate of +3.5% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 22% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Machinery; Parts of the Machinery of Heading No. 8427 to Latvia in 2022:

1. Germany (65.5 tons)
2. Poland (62.9 tons)
3. Denmark (51.2 tons)
4. Sweden (46.0 tons)
5. France (45.9 tons)
6. Estonia (33.7 tons)
7. Belgium (33.6 tons)
8. Lithuania (28.1 tons)
9. Italy (20.4 tons)
10. Netherlands (20.2 tons)
11. Spain (15.0 tons)
12. Austria (14.7 tons)
13. China (10.0 tons)

Exports of Machinery; Parts of the Machinery of Heading No. 8427 in Latvia

In 2022, overseas shipments of machinery; parts of the machinery of heading no. 8427 decreased by -18.2% to 604 tons, falling for the second year in a row after two years of growth. Overall, exports showed a abrupt slump. The pace of growth was the most pronounced in 2020 with an increase of 2.7% against the previous year. As a result, the exports attained the peak of 1.2K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of machinery; parts of the machinery of heading no. 8427 fell to $6.1M in 2022. In general, exports showed a pronounced decline. The growth pace was the most rapid in 2020 with an increase of 8.2%. As a result, the exports attained the peak of $7.4M. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Machinery; Parts of the Machinery of Heading No. 8427 from Latvia in 2022:

1. Germany (88.0 tons)
2. Finland (80.1 tons)
3. Russia (69.2 tons)
4. Sweden (59.3 tons)
5. Lithuania (57.4 tons)
6. Slovenia (50.6 tons)
7. Estonia (44.9 tons)
8. Poland (33.2 tons)
9. Italy (26.8 tons)
10. Austria (21.6 tons)
11. Netherlands (15.5 tons)
12. Czech Republic (12.5 tons)

Source: IndexBox Market Intelligence Platform