Latvia - Wood Fuel - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWood Fuel Price in Latvia - 2023
Contents:
- Wood Fuel Price in Latvia (FOB) - 2023
- Wood Fuel Price in Latvia (CIF) - 2023
- Wood Fuel Exports in Latvia
- Wood Fuel Imports in Latvia
Wood Fuel Price in Latvia (FOB) - 2023
The average wood fuel export price stood at $130 per cubic meter in October 2023, increasing by 17% against the previous month. Overall, the export price, however, continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in March 2023 when the average export price increased by 20% m-o-m. The export price peaked at $209 per cubic meter in January 2023; however, from February 2023 to October 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In October 2023, the country with the highest price was the UK ($240 per cubic meter), while the average price for exports to Finland ($40.8 per cubic meter) 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 Germany (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.
Wood Fuel Price in Latvia (CIF) - 2023
In October 2023, the average wood fuel import price amounted to $60.1 per cubic meter, with an increase of 31% against the previous month. In general, the import price, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in May 2023 an increase of 70% against the previous month. Over the period under review, average import prices attained the maximum at $138 per cubic meter in November 2022; however, from December 2022 to October 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In October 2023, the country with the highest price was Estonia ($63.1 per cubic meter), while the price for Lithuania amounted to $57.4 per cubic meter.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Norway (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Wood Fuel Exports in Latvia
In 2022, exports of wood fuel from Latvia skyrocketed to 1.2M cubic meters, jumping by 54% compared with the previous year's figure. In general, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, wood fuel exports surged to $143M in 2022. Over the period under review, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Wood Fuel in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 25.6 | 33.8 | 50.9 | 55.9 | 29.7% |
| Norway | 4.0 | 1.8 | 4.0 | 18.9 | 67.8% |
| Germany | 2.1 | 2.1 | 3.0 | 13.9 | 87.8% |
| Estonia | 5.7 | 6.4 | 6.5 | 11.5 | 26.4% |
| Sweden | 1.2 | 0.4 | 0.3 | 8.4 | 91.3% |
| Finland | 1.8 | 0.5 | 1.2 | 7.3 | 59.5% |
| United States | 7.2 | 11.8 | 14.6 | 5.3 | -9.7% |
| Poland | N/A | N/A | 0.1 | 4.9 | 4800.0% |
| Denmark | 2.6 | 2.3 | 2.7 | 4.5 | 20.1% |
| Others | 4.8 | 5.1 | 7.8 | 12.0 | 35.7% |
| Total | 55.0 | 64.1 | 91.2 | 143 | 37.5% |
Top Export Markets for Wood Fuel from Latvia in 2022:
- United Kingdom (241.3K cubic meters)
- Sweden (185.4K cubic meters)
- Finland (140.9K cubic meters)
- Denmark (116.8K cubic meters)
- Germany (110.4K cubic meters)
- Estonia (99.8K cubic meters)
- Norway (97.9K cubic meters)
- Poland (55.0K cubic meters)
- United States (28.8K cubic meters)
Wood Fuel Imports in Latvia
In 2022, the amount of wood fuel imported into Latvia expanded modestly to 94K cubic meters, increasing by 3.9% against 2021. Over the period under review, imports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 when imports increased by 8.4%. As a result, imports reached the peak of 127K cubic meters. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, wood fuel imports expanded notably to $8.8M in 2022. The total import value increased at an average annual rate of +12.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 18%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Wood Fuel in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 1.7 | 1.5 | 1.0 | 3.6 | 28.4% |
| Belarus | 1.9 | 1.8 | 2.8 | 1.3 | -11.9% |
| Sweden | N/A | N/A | N/A | 1.3 | 0% |
| Russia | 2.2 | 3.5 | 3.6 | 1.0 | -23.1% |
| Estonia | 0.4 | 0.1 | 0.2 | 0.8 | 26.0% |
| Finland | N/A | N/A | N/A | 0.3 | 0% |
| Norway | N/A | N/A | N/A | 0.2 | 0% |
| Others | 0.1 | 0.4 | 0.1 | 0.2 | 26.0% |
| Total | 6.2 | 7.3 | 7.7 | 8.8 | 12.4% |
Top Suppliers of Wood Fuel to Latvia in 2022:
- Lithuania (33.5K cubic meters)
- Sweden (22.1K cubic meters)
- Belarus (11.0K cubic meters)
- Finland (9.1K cubic meters)
- Russia (7.8K cubic meters)
- Estonia (5.5K cubic meters)
- Norway (4.0K cubic meters)
This report provides an in-depth analysis of the wood fuel 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:
- FCL 1627 - Wood fuel, coniferous
- FCL 1628 - Wood fuel, non-coniferous
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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