Report Update: May 1, 2024

Latvia - Radio Remote Control Apparatus - Market Analysis, Forecast, Size, Trends And Insights

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Remote Control Apparatus Price in Latvia - 2023

Remote Control Apparatus Price in Latvia (CIF) - 2023

The average remote control apparatus import price stood at $21.8 per unit in August 2023, waning by -17% against the previous month. In general, the import price, however, posted a resilient increase. The growth pace was the most rapid in November 2022 when the average import price increased by 148% against the previous month. Over the period under review, average import prices attained the maximum at $26.2 per unit in July 2023, and then shrank sharply in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was China ($30.8 per unit), while the price for Taiwan (Chinese) ($6.9 per unit) was amongst the lowest.

From September 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Lithuania (+18.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Remote Control Apparatus Price in Latvia (FOB) - 2023

In August 2023, the average remote control apparatus export price amounted to $46.3 per unit, picking up by 40% against the previous month. Overall, the export price continues to indicate a remarkable increase. The growth pace was the most rapid in February 2023 an increase of 344% m-o-m. As a result, the export price attained the peak level of $77.7 per unit. From March 2023 to August 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 the Czech Republic ($139 per unit), while the average price for exports to Germany ($12.1 per unit) was amongst the lowest.

From September 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Remote Control Apparatus Imports in Latvia

Remote control apparatus imports into Latvia surged to 182K units in 2022, with an increase of 21% on the previous year. The total import volume increased at an average annual rate of +4.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, remote control apparatus imports contracted slightly to $1.5M in 2022. The total import value increased at an average annual rate of +3.1% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 9.6%. As a result, imports attained the peak of $1.5M, leveling off in the following year.

Import of Remote Control Apparatus in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Poland	191	370	458	526	40.2%
China	37.5	49.0	122	270	93.1%
Italy	257	248	321	182	-10.9%
Germany	119	162	100	93.5	-7.7%
Lithuania	194	142	147	89.3	-22.8%
Finland	22.2	32.0	51.0	78.7	52.5%
Estonia	18.8	47.4	20.4	50.3	38.8%
Czech Republic	25.4	23.1	32.0	34.9	11.2%
Hong Kong SAR	174	113	40.5	5.2	-69.0%
Others	303	157	182	140	-22.7%
Total	1,341	1,344	1,473	1,470	3.1%

Top Suppliers of Remote Control Apparatus to Latvia in 2022:

Poland (67.5K units)
Italy (50.7K units)
China (10.9K units)
Czech Republic (9.2K units)
Lithuania (8.9K units)
Germany (8.6K units)
Finland (6.1K units)
Estonia (4.1K units)
Hong Kong SAR (0.5K units)

Remote Control Apparatus Exports in Latvia

Remote control apparatus exports from Latvia soared to 90K units in 2022, jumping by 24% on the previous year's figure. Overall, exports, however, continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of 80% against the previous year. The exports peaked at 101K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, remote control apparatus exports soared to $1.4M in 2022. Over the period under review, exports, however, saw a slight downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 91% against the previous year. Over the period under review, the exports attained the maximum at $1.5M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Export of Remote Control Apparatus in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Lithuania	353	220	707	744	28.2%
Estonia	804	124	232	221	-35.0%
United States	N/A	N/A	N/A	150	0%
Ukraine	9.4	N/A	2.2	103	122.1%
Russia	28.7	170	105	68.4	33.6%
Czech Republic	270	N/A	N/A	54.4	-41.4%
Germany	13.1	1.4	1.9	30.9	33.1%
Sweden	0.9	1.0	0.8	7.5	102.7%
France	24.7	35.3	13.5	N/A	-26.1%
Others	20.7	16.3	21.7	59.3	42.0%
Total	1,525	568	1,085	1,438	-1.9%

Top Export Markets for Remote Control Apparatus from Latvia in 2022:

Lithuania (54.8K units)
Ukraine (8.6K units)
Estonia (8.2K units)
United States (8.2K units)
Russia (4.3K units)
Sweden (1.8K units)
Germany (1.4K units)
Czech Republic (1.0K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the remote control apparatus market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 26512080 - Radio remote control apparatus (including for ships, pilotless aircraft, rockets, missiles, toys, and model ships or aircraft, for machines, for the detonation of mines)

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023