Latvia - Crude Oil and Processed Petroleum - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLatvia: Market for Crude Oil and Processed Petroleum 2024
Market Size for Crude Oil and Processed Petroleum in Latvia
The Latvian market for crude oil and processed petroleum declined to $X in 2022, approximately reflecting the previous year. Over the period under review, consumption showed buoyant growth. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.
Production of Crude Oil and Processed Petroleum in Latvia
In value terms, crude oil and processed petroleum production shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt slump. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.
Exports of Crude Oil and Processed Petroleum
Exports from Latvia
In 2022, shipments abroad of crude oil and processed petroleum increased by X% to X tons, rising for the third year in a row after four years of decline. Overall, exports, however, continue to indicate a noticeable decline. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.
In value terms, crude oil and processed petroleum exports surged to $X in 2022. Over the period under review, exports, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.
Exports by Country
Lithuania (X tons), Ukraine (X tons) and Germany (X tons) were the main destinations of crude oil and processed petroleum exports from Latvia, with a combined X% share of total exports. Estonia, Hungary, the UK, Poland and the Netherlands lagged somewhat behind, together accounting for a further X%.
From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for crude oil and processed petroleum exported from Latvia were Lithuania ($X), Ukraine ($X) and Germany ($X), together comprising X% of total exports. Estonia, Hungary, the UK, Poland and the Netherlands lagged somewhat behind, together accounting for a further X%.
Hungary, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The average export price for crude oil and processed petroleum stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price enjoyed mild growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Hungary ($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 Afghanistan (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Crude Oil and Processed Petroleum
Imports into Latvia
In 2022, the amount of crude oil and processed petroleum imported into Latvia skyrocketed to X tons, growing by X% compared with the previous year. Over the period under review, imports enjoyed measured growth. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.
In value terms, crude oil and processed petroleum imports surged to $X in 2022. In general, imports, however, recorded a abrupt decline. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.
Imports by Country
In 2022, Lithuania (X tons) constituted the largest supplier of crude oil and processed petroleum to Latvia, with a X% share of total imports. Moreover, crude oil and processed petroleum imports from Lithuania exceeded the figures recorded by the second-largest supplier, Finland (X tons), twofold. Kazakhstan (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume from Lithuania amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (X% per year) and Kazakhstan (X% per year).
In value terms, Lithuania ($X) constituted the largest supplier of crude oil and processed petroleum to Latvia, comprising X% of total imports. The second position in the ranking was taken by Finland ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (X% per year) and the Netherlands (X% per year).
Import Prices by Country
The average import price for crude oil and processed petroleum stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price saw a deep reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (X%), while the prices for the other major suppliers experienced a decline.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for crude oil and processed petroleum 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:
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
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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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