Latvia: Measuring Instrument Market 2024

Measuring Instrument Market Size in Latvia

The Latvian measuring instrument market amounted to $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption, however, continues to indicate a noticeable descent. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Measuring Instrument Production in Latvia

In value terms, measuring instrument production expanded significantly to $X in 2022 estimated in export price. Overall, production, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

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Measuring Instrument Exports

Exports from Latvia

Measuring instrument exports from Latvia totaled X units in 2022, with an increase of X% against 2021. Over the period under review, exports, however, showed a mild curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, measuring instrument exports dropped sharply to $X in 2022. In general, exports, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey (X units), Russia (X units) and Estonia (X units) were the main destinations of measuring instrument exports from Latvia, with a combined X% share of total exports. Norway, Poland, Lithuania, Austria, Ukraine, Germany, Sweden and Finland 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 Austria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for instruments and apparatus for measuring or checking the flow or level of liquids exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Austria ($X), with a X% share of total exports. It was followed by Estonia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (X% per year) and Estonia (X% per year).

Export Prices by Country

In 2022, the average measuring instrument export price amounted to $X per unit, reducing by X% against the previous year. Overall, the export price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Turkey ($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 Austria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Latvia

Measuring instrument imports into Latvia contracted markedly to X units in 2022, which is down by X% on 2021. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, measuring instrument imports shrank to $X in 2022. In general, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Poland (X units) constituted the largest measuring instrument supplier to Latvia, accounting for a X% share of total imports. Moreover, measuring instrument imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Belarus (X units) 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 amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Belarus (X% per year).

In value terms, the largest measuring instrument suppliers to Latvia were Germany ($X), Belarus ($X) and Poland ($X), with a combined X% share of total imports.

Poland, 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 measuring instrument import price stood at $X per unit in 2022, picking up by X% against the previous year. In general, the import price, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 an increase of X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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