Speed Changer Price in Latvia - 2022

Contents:

1. Speed Changer Price in Latvia (CIF) - 2022
2. Speed Changer Price in Latvia (FOB) - 2022
3. Speed Changer Imports in Latvia
4. Speed Changer Exports in Latvia

Speed Changer Price in Latvia (CIF) - 2022

In 2022, the average speed changer import price amounted to $14,642 per ton, dropping by -19.6% against the previous year. Over the period from 2013 to 2022, it increased at an average annual rate of +4.3%. The growth pace was the most rapid in 2014 an increase of 38% against the previous year. Over the period under review, average import prices reached the peak figure at $18,211 per ton in 2021, and then contracted significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($45,488 per ton), while the price for Italy ($8,063 per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Speed Changer Price in Latvia (FOB) - 2022

The average speed changer export price stood at $18,670 per ton in 2022, shrinking by -22.1% against the previous year. In general, the export price, however, posted moderate growth. The pace of growth appeared the most rapid in 2018 an increase of 108%. As a result, the export price attained the peak level of $32,873 per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($72,943 per ton), while the average price for exports to Hong Kong SAR ($3,437 per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Speed Changer Imports in Latvia

In 2022, the amount of speed changers, industrial high-speed drives and gear imported into Latvia surged to 2.1K tons, picking up by 133% against 2021. Overall, imports posted a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, speed changer imports skyrocketed to $31M in 2022. Over the period under review, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Speed Changer to Latvia in 2022:

1. Italy (583.9 tons)
2. Denmark (453.0 tons)
3. Turkey (266.8 tons)
4. Germany (243.3 tons)
5. Poland (88.8 tons)
6. Czech Republic (77.2 tons)
7. Lithuania (76.8 tons)
8. France (75.7 tons)
9. China (69.5 tons)
10. Sweden (56.2 tons)
11. Finland (45.6 tons)
12. Estonia (8.7 tons)
13. Russia (5.6 tons)

Speed Changer Exports in Latvia

For the fourth consecutive year, Latvia recorded growth in overseas shipments of speed changers, industrial high-speed drives and gear, which increased by 48% to 315 tons in 2022. Over the period under review, exports showed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 123%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, speed changer exports stood at $5.9M in 2022. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 87%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Top Export Markets for Speed Changer from Latvia in 2022:

1. Russia (224.7 tons)
2. Kazakhstan (27.4 tons)
3. Belarus (13.9 tons)
4. Hong Kong SAR (12.2 tons)
5. Lithuania (6.2 tons)
6. Sweden (6.0 tons)
7. Estonia (4.1 tons)
8. China (2.1 tons)

Source: IndexBox Market Intelligence Platform