Latvia: Metal Crown Cork Market 2024

Metal Crown Cork Market Size in Latvia

In 2022, the Latvian metal crown cork market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Metal Crown Cork Production in Latvia

In value terms, metal crown cork production contracted slightly to $X in 2022 estimated in export price. Overall, production recorded a slight decrease. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Metal Crown Cork Exports

Exports from Latvia

In 2022, overseas shipments of iron or steel crown corks increased by X% to X units for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal crown cork exports surged to $X in 2022. Overall, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X units) was the main destination for metal crown cork exports from Latvia, accounting for a X% share of total exports. Moreover, metal crown cork exports to Russia exceeded the volume sent to the second major destination, Estonia (X units), more than tenfold.

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

In value terms, Russia ($X) emerged as the key foreign market for iron or steel crown corks exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Estonia ($X), with less than X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia totaled X.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and Lithuania (X% per year).

Export Prices by Country

In 2022, the average metal crown cork export price amounted to $X per unit, growing by X% against the previous year. Over the period under review, the export price continues to indicate a significant increase. 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 Russia ($X per unit), while the average price for exports to Lithuania (less than $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 Russia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Crown Cork Imports

Imports into Latvia

In 2022, supplies from abroad of iron or steel crown corks was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports showed a measured increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal crown cork imports surged to $X in 2022. Overall, imports enjoyed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Lithuania (X units) constituted the largest supplier of metal crown cork to Latvia, with a X% share of total imports. Moreover, metal crown cork imports from Lithuania exceeded the figures recorded by the second-largest supplier, Poland (X units), threefold. The third position in this ranking was taken by Italy (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Lithuania stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Italy (X% per year).

In value terms, Lithuania ($X) constituted the largest supplier of iron or steel crown corks to Latvia, comprising X% of total imports. The second position in the ranking was taken by Poland ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Lithuania totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Italy (X% per year).

Import Prices by Country

The average metal crown cork import price stood at $X per thousand units in 2022, which is down by X% against the previous year. Overall, import price indicated a resilient increase 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. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per thousand units in 2021, and then plummeted in the following year.

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 Estonia ($X per thousand units), while the price for Italy ($X per thousand units) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :