Latvia: Festive Articles Market 2024

Festive Articles Market Size in Latvia

The Latvian festive articles market soared to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption saw resilient growth. Festive articles consumption peaked in 2022 and is likely to continue growth in years to come.

Festive Articles Production in Latvia

In value terms, festive articles production reached $X in 2022 estimated in export price. In general, production saw a resilient expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Festive Articles Exports

Exports from Latvia

In 2022, shipments abroad of festive or carnival articles decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, festive articles exports declined markedly to $X in 2022. In general, exports, however, enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Lithuania (X tons), Estonia (X tons) and Germany (X tons) were the main destinations of festive articles exports from Latvia, together comprising X% of total exports. Russia, Cyprus, Kyrgyzstan and Italy lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Estonia ($X) and Germany ($X) were the largest markets for festive articles exported from Latvia worldwide, with a combined X% share of total exports. Russia, Cyprus, Italy and Kyrgyzstan lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Italy, 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

The average festive articles export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price continues to indicate resilient growth. The pace of growth appeared the most rapid in 2021 an increase of X%. The export price peaked in 2022 and is expected to retain 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 Germany ($X per ton), while the average price for exports to Kyrgyzstan ($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 Cyprus (X%), while the prices for the other major destinations experienced more modest paces of growth.

Festive Articles Imports

Imports into Latvia

In 2022, approx. X tons of festive or carnival articles were imported into Latvia; rising by X% compared with 2021. Over the period under review, imports, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, festive articles imports stood at $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of festive articles to Latvia, accounting for a X% share of total imports. Moreover, festive articles imports from Poland exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), twofold. The Netherlands (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 Poland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and the Netherlands (X% per year).

In value terms, the largest festive articles suppliers to Latvia were Poland ($X), Lithuania ($X) and the Netherlands ($X), together accounting for X% of total imports. Germany, Estonia, China, the Czech Republic, Russia, Finland, Italy, Denmark and the UK lagged somewhat behind, together comprising a further X%.

The Czech Republic, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average festive articles import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :