Latvia: Paperboard Case Material Market 2024

Paperboard Case Material Market Size in Latvia

In 2022, after two years of growth, there was decline in the Latvian paperboard case material market, when its value decreased by -0.4% to $X. Overall, consumption showed a relatively flat trend pattern. Paperboard case material consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Paperboard Case Material Production in Latvia

In value terms, paperboard case material production dropped markedly to $X in 2022 estimated in export price. In general, production, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2019 with an increase of 205%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Paperboard Case Material Exports

Exports from Latvia

In 2022, paperboard case material exports from Latvia contracted remarkably to X tons, waning by -82.5% compared with 2021. In general, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 122%. As a result, the exports attained the peak of X tons, and then contracted notably in the following year.

In value terms, paperboard case material exports plummeted to $X in 2022. Overall, exports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 61% against the previous year. As a result, the exports attained the peak of $X, and then contracted dramatically in the following year.

Exports by Country

Poland (X tons) was the main destination for paperboard case material exports from Latvia, with a 70% share of total exports. Moreover, paperboard case material exports to Poland exceeded the volume sent to the second major destination, Lithuania (X tons), fivefold. Spain (X tons) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume to Poland totaled -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (-5.4% per year) and Spain (+7.6% per year).

In value terms, Poland ($X) emerged as the key foreign market for paperboard case materials exports from Latvia, comprising 71% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 12% share of total exports. It was followed by Spain, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland stood at -3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (-4.5% per year) and Spain (+9.7% per year).

Export Prices by Country

In 2022, the average paperboard case material export price amounted to $X per ton, growing by 26% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2020 when the average export price increased by 40%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Israel ($X per ton) and the Czech Republic ($X per ton), while the average price for exports to Estonia ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Paperboard Case Material Imports

Imports into Latvia

In 2022, after two years of growth, there was significant decline in purchases abroad of paperboard case materials, when their volume decreased by -38.5% to X tons. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 38%. Over the period under review, imports hit record highs at X tons in 2021, and then declined notably in the following year.

In value terms, paperboard case material imports shrank sharply to $X in 2022. In general, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 56% against the previous year. As a result, imports reached the peak of $X, and then declined sharply in the following year.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of paperboard case material to Latvia, with a 62% share of total imports. Moreover, paperboard case material imports from Poland exceeded the figures recorded by the second-largest supplier, Finland (X tons), threefold. Russia (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Poland stood at +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+12.8% per year) and Russia (-1.9% per year).

In value terms, Poland ($X) constituted the largest supplier of paperboard case materials to Latvia, comprising 56% of total imports. The second position in the ranking was held by Finland ($X), with a 23% share of total imports. It was followed by Russia, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+16.8% per year) and Russia (-2.5% per year).

Import Prices by Country

The average paperboard case material import price stood at $X per ton in 2022, increasing by 18% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2021 when the average import price increased by 34% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Sweden ($X per ton) and Finland ($X per ton), while the price for Poland ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+34.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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