Price for Tools, Hand; Other than Household Tools in Latvia - 2023
Contents:
- Price for Tools, Hand; Other than Household Tools in Latvia (CIF) - 2023
- Price for Tools, Hand; Other than Household Tools in Latvia (FOB) - 2022
- Imports of Tools, Hand; Other than Household Tools in Latvia
- Exports of Tools, Hand; Other than Household Tools in Latvia
Price for Tools, Hand; Other than Household Tools in Latvia (CIF) - 2023
The average import price for tools, hand; other than household toolses stood at $8,259 per ton in October 2023, waning by -21.7% against the previous month. Over the period under review, the import price recorded a perceptible downturn. The pace of growth appeared the most rapid in May 2023 an increase of 44% m-o-m. Over the period under review, average import prices attained the maximum at $13,082 per ton in November 2022; however, from December 2022 to October 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Lithuania ($28,459 per ton), while the price for China ($2,563 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 Lithuania (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Tools, Hand; Other than Household Tools in Latvia (FOB) - 2022
The average export price for tools, hand; other than household toolses stood at $9,131 per ton in 2022, with an increase of 3.7% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for tools, hand; other than household toolses increased by +57.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 36%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($13,419 per ton), while the average price for exports to Norway ($6,222 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 Kazakhstan (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Tools, Hand; Other than Household Tools in Latvia
In 2022, overseas purchases of tools, hand; other than household toolses decreased by -2.2% to 960 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 +10.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 22%.
In value terms, imports of tools, hand; other than household toolses expanded markedly to $10M in 2022. In general, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +23.7% 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 +89.3% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 38%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Tools, Hand; Other than Household Tools in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 1,108 | 1,717 | 2,678 | 2,911 | 38.0% |
| Poland | 1,417 | 1,665 | 1,710 | 2,175 | 15.4% |
| China | 616 | 491 | 829 | 1,348 | 29.8% |
| Germany | 503 | 1,038 | 1,390 | 1,026 | 26.8% |
| Estonia | 368 | 414 | 507 | 464 | 8.0% |
| Sweden | 232 | 295 | 427 | 442 | 24.0% |
| Russia | 120 | 33.0 | 198 | 168 | 11.9% |
| Others | 953 | 1,011 | 1,434 | 1,527 | 17.0% |
| Total | 5,317 | 6,664 | 9,174 | 10,062 | 23.7% |
Top Suppliers of Tools, Hand; Other than Household Tools to Latvia in 2022:
- China (300.6 tons)
- Poland (233.8 tons)
- Lithuania (124.0 tons)
- Estonia (108.4 tons)
- Germany (70.6 tons)
- Sweden (22.1 tons)
- Russia (16.9 tons)
Exports of Tools, Hand; Other than Household Tools in Latvia
In 2022, approx. 497 tons of tools, hand; other than household toolses were exported from Latvia; increasing by 5.1% on 2021. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 10% against the previous year. As a result, the exports reached the peak of 551 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of tools, hand; other than household toolses amounted to $4.5M in 2022. In general, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +16.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 23%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
| Export of Tools, Hand; Other than Household Tools in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 664 | 822 | 1,073 | 1,174 | 20.9% |
| Lithuania | 782 | 923 | 1,407 | 919 | 5.5% |
| Russia | 601 | 1,111 | 1,026 | 662 | 3.3% |
| Norway | 566 | 449 | 112 | 501 | -4.0% |
| United Kingdom | 0.3 | 2.0 | 6.0 | 453 | 1047.3% |
| Spain | 58.7 | 4.2 | 147 | 359 | 82.9% |
| Others | 223 | 254 | 393 | 473 | 28.5% |
| Total | 2,894 | 3,566 | 4,165 | 4,541 | 16.2% |
Top Export Markets for Tools, Hand; Other than Household Tools from Latvia in 2022:
- Estonia (146.8 tons)
- Lithuania (125.5 tons)
- Norway (80.5 tons)
- Russia (53.7 tons)
- United Kingdom (34.2 tons)
- Spain (26.7 tons)
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