Latvia: Headphone Market 2024

Headphone Market Size in Latvia

The Latvian headphone market skyrocketed to $X in 2023, jumping by X% against the previous year. In general, consumption posted a resilient increase. Over the period under review, the market attained the peak level in 2023 and is likely to see gradual growth in years to come.

Headphone Production in Latvia

In value terms, headphone production skyrocketed to $X in 2023 estimated in export price. In general, production, however, saw a strong expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

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Headphone Exports

Exports from Latvia

For the third consecutive year, Latvia recorded decline in overseas shipments of headphones, which decreased by X% to X units in 2023. In general, exports, however, posted significant growth. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, the exports reached the peak of X units. From 2019 to 2023, the growth of the exports remained at a lower figure.

In value terms, headphone exports dropped to $X in 2023. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

Exports by Country

Lithuania (X units), Russia (X units) and Estonia (X units) were the main destinations of headphone exports from Latvia, with a combined X% share of total exports. Kazakhstan, Moldova, Belarus, Ukraine, Kyrgyzstan, Malta, Hong Kong SAR, Poland, Italy and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Kazakhstan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) remains the key foreign market for headphones exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Russia ($X), with a X% share of total exports. It was followed by Estonia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Lithuania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Estonia (X% per year).

Export Prices by Country

The average headphone export price stood at $X per unit in 2023, picking up by X% against the previous year. Over the period under review, the export price posted buoyant 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 external markets. In 2023, amid the top suppliers, the country with the highest price was Lithuania ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Headphone Imports

Imports into Latvia

For the third year in a row, Latvia recorded decline in purchases abroad of headphones, which decreased by X% to X units in 2023. In general, imports faced a dramatic setback. Imports peaked at X units in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, headphone imports expanded rapidly to $X in 2023. Overall, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Lithuania (X units) constituted the largest supplier of headphone to Latvia, with a X% share of total imports. Moreover, headphone imports from Lithuania exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), twofold. Germany (X units) ranked third in terms of total imports with a X% share.

From 2020 to 2023, the average annual growth rate of volume from Lithuania amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Germany (X% per year).

In value terms, Lithuania ($X), Germany ($X) and Estonia ($X) constituted the largest headphone suppliers to Latvia, together accounting for X% of total imports. Italy, Poland, Austria, the Netherlands, the Czech Republic, Finland, China, Sweden, Greece and the UK lagged somewhat behind, together comprising a further X%.

Austria, with a CAGR of X%, recorded the highest growth rate of 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

The average headphone import price stood at $X per unit in 2023, surging by X% against the previous year. In general, import price indicated significant growth from 2020 to 2023: its price increased at an average annual rate of X% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, headphone import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked in 2023 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2020 to 2023, the most notable rate of growth in terms of prices was attained by Greece (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform