Latvia: Steel Plaited Band Market 2024

Steel Plaited Band Market Size in Latvia

In 2022, the Latvian steel plaited band market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, recorded a abrupt decrease. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Steel Plaited Band Exports

Exports from Latvia

In 2022, overseas shipments of iron or steel plaited bands and slings decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports showed a pronounced curtailment. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, steel plaited band exports shrank slightly to $X in 2022. Over the period under review, exports, however, showed a slight increase. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Estonia (X tons) was the main destination for steel plaited band exports from Latvia, with a X% share of total exports. Moreover, steel plaited band exports to Estonia exceeded the volume sent to the second major destination, Lithuania (X tons), twofold. Vietnam (X kg) ranked third in terms of total exports with a X% share.

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

In value terms, Estonia ($X) remains the key foreign market for iron or steel plaited bands and slings exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

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

Export Prices by Country

The average steel plaited band export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Finland ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Plaited Band Imports

Imports into Latvia

In 2022, after two years of decline, there was growth in supplies from abroad of iron or steel plaited bands and slings, when their volume increased by X% to X tons. Over the period under review, imports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, steel plaited band imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest steel plaited band supplier to Latvia, with a X% share of total imports. Moreover, steel plaited band imports from Lithuania exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Poland (X tons) ranked third in terms of total imports with an 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: China (X% per year) and Poland (X% per year).

In value terms, the largest steel plaited band suppliers to Latvia were the Netherlands ($X), Lithuania ($X) and Poland ($X), together comprising X% of total imports.

The Netherlands, with a CAGR of X%, saw 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 steel plaited band import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, recorded a pronounced slump. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton 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 Germany ($X per ton), while the price for Lithuania ($X per ton) 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

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