Latvia: Antibiotic Market 2024

Antibiotic Market Size in Latvia

The Latvian antibiotic market fell modestly to $X in 2022, approximately equating the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Antibiotic Production in Latvia

In value terms, antibiotic production shrank to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Antibiotic production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Antibiotic Exports

Exports from Latvia

In 2022, overseas shipments of antibiotics decreased by X% to X kg, falling for the second year in a row after two years of growth. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, antibiotic exports declined dramatically to $X in 2022. In general, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X kg), Russia (X kg) and Turkey (X kg) were the main destinations of antibiotic exports from Latvia, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Russia ($X) emerged as the key foreign market for antibiotics exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports.

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

Export Prices by Country

In 2022, the average antibiotic export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price enjoyed temperate growth. The pace of growth appeared the most rapid in 2021 an increase of X%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X,000 per ton), while the average price for exports to Germany ($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 Turkey (X%), while the prices for the other major destinations experienced more modest paces of growth.

Antibiotic Imports

Imports into Latvia

In 2022, supplies from abroad of antibiotics increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, antibiotic imports soared to $X in 2022. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest antibiotic supplier to Latvia, with a X% share of total imports. Moreover, antibiotic imports from China exceeded the figures recorded by the second-largest supplier, Spain (X kg), ninefold. Belgium (X kg) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Belgium (X% per year).

In value terms, China ($X) constituted the largest supplier of antibiotics to Latvia, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Belgium (X% per year).

Import Prices by Country

The average antibiotic import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (X.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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