Latvia: Market for Instrument Panel And Wall Clocks 2024

Market Size for Instrument Panel And Wall Clocks in Latvia

For the fourth consecutive year, the Latvian market for instrument panel and wall clocks recorded growth in sales value, which increased by X% to $X in 2020. Overall, the total consumption indicated a measured expansion from 2012 to 2020: its value increased at an average annual rate of X% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by X% against 2016 indices. Over the period under review, the market attained the maximum level in 2020 and is likely to see steady growth in the immediate term.

Exports of Instrument Panel And Wall Clocks

Exports from Latvia

In 2020, shipments abroad of instrument panel and wall clocks increased by X% to X units, rising for the fourth consecutive year after four years of decline. In general, exports, however, continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2020, the exports stood at a somewhat lower figure.

In value terms, instrument panel and wall clock exports skyrocketed to $X in 2020. Overall, exports continue to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked in 2020 and are expected to retain growth in years to come.

Exports by Country

Lithuania (X units), Estonia (X units) and Russia (X units) were the main destinations of instrument panel and wall clock exports from Latvia, together accounting for X% of total exports.

From 2012 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Russia ($X) and Estonia ($X) were the largest markets for instrument panel and wall clock exported from Latvia worldwide, with a combined X% share of total exports. Belarus and Kazakhstan lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Kazakhstan, with a CAGR of X%, recorded the highest growth rate of 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 2020, the average export price for instrument panel and wall clocks amounted to $X per unit, increasing by X% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2020: its price increased at an average annual rate of X% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Kazakhstan ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instrument Panel And Wall Clocks

Imports into Latvia

In 2020, after two years of decline, there was significant growth in supplies from abroad of instrument panel and wall clocks, when their volume increased by X% to X units. In general, imports, however, showed a pronounced curtailment. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2020, imports stood at a somewhat lower figure.

In value terms, instrument panel and wall clock imports shrank to $X in 2020. Overall, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then shrank modestly in the following year.

Imports by Country

China (X units), Poland (X units) and Denmark (X units) were the main suppliers of instrument panel and wall clock imports to Latvia, together comprising X% of total imports. Germany, Lithuania, Estonia, India, Finland, the Netherlands and Belarus lagged somewhat behind, together comprising a further X%.

From 2012 to 2020, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) constituted the largest supplier of instrument panel and wall clocks to Latvia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Poland, with a X% share.

From 2012 to 2020, the average annual growth rate of value from Lithuania amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Poland (X% per year).

Import Prices by Country

In 2020, the average import price for instrument panel and wall clocks amounted to $X per unit, which is down by X% against the previous year. Over the period under review, the import price, however, recorded a strong increase. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit, and then fell notably in the following year.

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

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Lithuania (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :