Latvia: Petroleum-Engine Cargo Trucks Market 2024

Petroleum-Engine Cargo Trucks Market Size in Latvia

For the ninth consecutive year, the Latvian petroleum-engine cargo trucks market recorded growth in sales value, which increased by X% to $X in 2022. Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2013 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Petroleum-Engine Cargo Trucks Production in Latvia

In value terms, petroleum-engine cargo trucks production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. Petroleum-engine cargo trucks production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Petroleum-Engine Cargo Trucks Exports

Exports from Latvia

Petroleum-engine cargo trucks exports from Latvia fell rapidly to X units in 2022, declining by X% compared with 2021 figures. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, petroleum-engine cargo trucks exports reduced notably to $X in 2022. In general, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Estonia (X units), Croatia (X units) and Lithuania (X units) were the main destinations of petroleum-engine cargo trucks exports from Latvia, with a combined X% share of total exports.

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

In value terms, Estonia ($X), Croatia ($X) and Lithuania ($X) appeared to be the largest markets for petroleum-engine cargo trucks exported from Latvia worldwide, with a combined X% share of total exports.

Croatia, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the average petroleum-engine cargo trucks export price amounted to $X per unit, falling by X% against the previous year. Over the period under review, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, petroleum-engine cargo trucks export price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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 Estonia ($X per unit), while the average price for exports to Serbia ($X per unit) was amongst the lowest.

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

Petroleum-Engine Cargo Trucks Imports

Imports into Latvia

In 2022, purchases abroad of goods vehicles, with spark-ignition internal combustion piston engine decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports saw a perceptible reduction. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, petroleum-engine cargo trucks imports shrank modestly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then dropped slightly in the following year.

Imports by Country

The Netherlands (X units), Estonia (X units) and Germany (X units) were the main suppliers of petroleum-engine cargo trucks imports to Latvia, with a combined X% share of total imports. Austria, Sweden, Finland, Poland, Lithuania and the United States lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Estonia ($X) and Sweden ($X) appeared to be the largest petroleum-engine cargo trucks suppliers to Latvia, together accounting for X% of total imports. Germany, Poland, Finland, Austria, Lithuania and the United States lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

In 2022, the average petroleum-engine cargo trucks import price amounted to $X per unit, picking up by X% against the previous year. In general, the import price posted a buoyant expansion. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 Sweden ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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