Latvia: Aluminium Bar Market 2024

Aluminium Bar Market Size in Latvia

The Latvian aluminium bar market dropped slightly to $X in 2022, waning by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted resilient growth. Over the period under review, the market hit record highs at $X in 2021, and then declined modestly in the following year.

Aluminium Bar Exports

Exports from Latvia

Aluminium bar exports from Latvia surged to X tons in 2022, picking up by X% against 2021. Overall, exports posted a pronounced increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, aluminium bar exports skyrocketed to $X in 2022. In general, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for aluminium bar exports from Latvia, with a X% share of total exports. Moreover, aluminium bar exports to Germany exceeded the volume sent to the second major destination, Finland (X tons), threefold. Turkey (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X% per year) and Turkey (X% per year).

In value terms, the largest markets for aluminium bar exported from Latvia were Germany ($X), Russia ($X) and Estonia ($X), with a combined X% share of total exports. Finland, Romania, Norway, India, Turkey, France, Lithuania and Brazil lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Brazil, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average aluminium bar export price amounted to $X per ton, rising by X% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium bar export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Turkey ($X 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 Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Bar Imports

Imports into Latvia

In 2022, aluminium bar imports into Latvia shrank to X tons, waning by X% on the previous year. Overall, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, aluminium bar imports stood at $X in 2022. Over the period under review, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Germany (X tons), Poland (X tons) and Lithuania (X tons) were the main suppliers of aluminium bar imports to Latvia, together comprising X% of total imports. Denmark, Turkey, Hungary, China, Belarus, the UK, India and Sweden lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest aluminium bar suppliers to Latvia were Germany ($X), Poland ($X) and Lithuania ($X), together comprising X% of total imports. Denmark, Turkey, Hungary, Sweden, the UK, China, Belarus and India lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, India, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average aluminium bar import price amounted to $X per ton, picking up by X% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium bar import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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 Sweden ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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