Price for Mineral Substances Not Elsewhere Specified or Included in Latvia - 2023
Contents:
- Price for Mineral Substances Not Elsewhere Specified or Included in Latvia (CIF) - 2022
- Price for Mineral Substances Not Elsewhere Specified or Included in Latvia (FOB) - 2022
- Imports of Mineral Substances Not Elsewhere Specified or Included in Latvia
- Exports of Mineral Substances Not Elsewhere Specified or Included in Latvia
Price for Mineral Substances Not Elsewhere Specified or Included in Latvia (CIF) - 2022
The average import price for mineral substances not elsewhere specified or includeds stood at $471 per ton in 2022, with an increase of 6.4% against the previous year. Over the period under review, the import price saw a buoyant expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 61%. The import price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($1,382 per ton), while the price for Sweden ($101 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Mineral Substances Not Elsewhere Specified or Included in Latvia (FOB) - 2022
The average export price for mineral substances not elsewhere specified or includeds stood at $1,416 per ton in 2022, increasing by 83% against the previous year. Overall, the export price continues to indicate significant growth. The most prominent rate of growth was recorded in 2021 an increase of 203% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($1,694 per ton), while the average price for exports to Lithuania ($496 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 China (+23.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Mineral Substances Not Elsewhere Specified or Included in Latvia
In 2022, imports of mineral substances not elsewhere specified or includeds into Latvia shrank remarkably to 6.2K tons, with a decrease of -28.9% on the previous year's figure. Over the period under review, imports recorded a deep slump. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. As a result, imports reached the peak of 8.7K tons, and then dropped notably in the following year.
In value terms, imports of mineral substances not elsewhere specified or includeds fell markedly to $2.9M in 2022. In general, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +6.8% 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 +27.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 68% against the previous year. As a result, imports attained the peak of $3.9M, and then fell dramatically in the following year.
| Import of Mineral Substances Not Elsewhere Specified or Included in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 925 | 722 | 996 | 821 | -3.9% |
| Germany | 603 | 469 | 715 | 595 | -0.4% |
| Poland | 152 | 192 | 216 | 343 | 31.2% |
| Lithuania | 43.6 | 201 | 384 | 220 | 71.5% |
| Ukraine | 212 | 258 | 215 | 148 | -11.3% |
| Hungary | 56.2 | 102 | 124 | 132 | 32.9% |
| Uzbekistan | N/A | N/A | 202 | 84.5 | -58.2% |
| Belarus | 185 | 110 | 30.7 | 67.6 | -28.5% |
| Estonia | 2.9 | 28.6 | 140 | 59.6 | 173.9% |
| Sweden | 29.7 | 46.6 | 53.7 | 39.6 | 10.1% |
| Belgium | 110 | 119 | 143 | 4.1 | -66.6% |
| Others | 88.6 | 49.3 | 648 | 413 | 67.0% |
| Total | 2,408 | 2,297 | 3,869 | 2,929 | 6.7% |
Top Suppliers of Mineral Substances Not Elsewhere Specified or Included to Latvia in 2022:
- Russia (1428.8 tons)
- Hungary (1237.0 tons)
- Lithuania (587.5 tons)
- Poland (515.7 tons)
- Germany (431.0 tons)
- Sweden (393.3 tons)
- Ukraine (370.2 tons)
- Estonia (296.2 tons)
- Belarus (266.6 tons)
- Uzbekistan (103.9 tons)
- Belgium (23.8 tons)
Exports of Mineral Substances Not Elsewhere Specified or Included in Latvia
In 2022, shipments abroad of mineral substances not elsewhere specified or includeds decreased by -41% to 416 tons, falling for the second consecutive year after two years of growth. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 550% against the previous year. As a result, the exports reached the peak of 777 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of mineral substances not elsewhere specified or includeds expanded sharply to $589K in 2022. Over the period under review, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 257%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Mineral Substances Not Elsewhere Specified or Included in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | 49.3 | 169 | 447 | 201.1% |
| Russia | 0.2 | 24.8 | 137 | 68.7 | 600.3% |
| Hong Kong SAR | 19.0 | N/A | 86.2 | 34.1 | 21.5% |
| Algeria | N/A | 22.0 | 14.4 | 20.9 | -2.5% |
| Lithuania | 2.6 | 21.4 | 1.9 | 3.4 | 9.4% |
| Estonia | 11.1 | 0.2 | 3.3 | 1.2 | -52.4% |
| Oman | N/A | 64.9 | N/A | N/A | 0% |
| Taiwan (Chinese) | N/A | N/A | 35.0 | N/A | 0% |
| Belarus | N/A | 6.5 | 7.8 | N/A | 20.0% |
| Others | 22.9 | 10.1 | 91.8 | 13.6 | -15.9% |
| Total | 55.8 | 199 | 547 | 589 | 119.4% |
Top Export Markets for Mineral Substances Not Elsewhere Specified or Included from Latvia in 2022:
- China (264.0 tons)
- Russia (86.3 tons)
- Algeria (30.0 tons)
- Hong Kong SAR (20.1 tons)
- Lithuania (6.9 tons)
- Estonia (1.7 tons)
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