Latvia: Mounted Objective Lens Market 2024

Mounted Objective Lens Market Size in Latvia

The Latvian mounted objective lens market surged to $X in 2022, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded buoyant growth. Mounted objective lens consumption peaked in 2022 and is expected to retain growth in the near future.

Mounted Objective Lens Exports

Exports from Latvia

In 2022, after four years of decline, there was significant growth in overseas shipments of mounted objective lenses, when their volume increased by X% to X units. In general, exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, mounted objective lens exports skyrocketed to $X in 2022. Over the period under review, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X units) was the main destination for mounted objective lens exports from Latvia, with a X% share of total exports. Moreover, mounted objective lens exports to Hong Kong SAR exceeded the volume sent to the second major destination, the United States (X units), fourfold. Lithuania (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Lithuania (X% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for mounted objective lenses exports from Latvia, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Romania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Romania (X% per year).

Export Prices by Country

The average mounted objective lens export price stood at $X per unit in 2022, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a lower figure.

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

Mounted Objective Lens Imports

Imports into Latvia

Mounted objective lens imports into Latvia surged to X units in 2022, rising by X% compared with the year before. Overall, imports saw a temperate increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, mounted objective lens imports soared to $X in 2022. Over the period under review, imports showed buoyant growth. The growth pace was the most rapid in 2017 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

Germany (X units), Sweden (X units) and Lithuania (X units) were the main suppliers of mounted objective lens imports to Latvia, with a combined X% share of total imports. The Netherlands, Estonia, Slovakia, Poland, Japan, China, Finland, Israel, the United States and the UK lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mounted objective lens suppliers to Latvia were Germany ($X), Israel ($X) and the Netherlands ($X), with a combined X% share of total imports. Lithuania, Sweden, the United States, Slovakia, China, the UK, Estonia, Finland, Poland and Japan lagged somewhat behind, together comprising a further X%.

Among the main suppliers, the UK, with a CAGR of X%, recorded the highest growth rate of the value of imports, 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 mounted objective lens import price amounted to $X per unit, falling by X% against the previous year. Over the period under review, import price indicated a strong 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 pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2021, and then contracted in the following year.

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

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

Source: IndexBox Platform

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