Latvia: Plaits And Basketwork Market 2024

Plaits And Basketwork Market Size in Latvia

In 2022, the Latvian plaits and basketwork market increased by X% to $X, rising for the third year in a row after six years of decline. In general, consumption saw a perceptible decline. Plaits and basketwork consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Plaits And Basketwork Production in Latvia

In value terms, plaits and basketwork production totaled $X in 2022 estimated in export price. Overall, production, however, saw a deep reduction. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

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Plaits And Basketwork Exports

Exports from Latvia

In 2022, shipments abroad of plaits, basketwork, wickerwork and similar products of plaiting materials decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, plaits and basketwork exports totaled $X in 2022. Over the period under review, exports saw a pronounced contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Lithuania (X tons), Estonia (X tons) and Russia (X tons) were the main destinations of plaits and basketwork exports from Latvia, with a combined X% share of total exports. Belarus lagged somewhat behind, accounting for a further X%.

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

In value terms, the largest markets for plaits and basketwork exported from Latvia were Lithuania ($X), Estonia ($X) and Russia ($X), with a combined X% share of total exports. These countries were followed by Belarus, which accounted for a further X%.

In terms of the main countries of destination, Belarus, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plaits and basketwork export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, showed a noticeable shrinkage. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the 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 Russia ($X per ton), while the average price for exports to Lithuania ($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 Russia (X%), while the prices for the other major destinations experienced a decline.

Plaits And Basketwork Imports

Imports into Latvia

In 2022, supplies from abroad of plaits, basketwork, wickerwork and similar products of plaiting materials decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank significantly in the following year.

In value terms, plaits and basketwork imports amounted to $X in 2022. In general, total imports indicated a tangible expansion from 2012 to 2022: its value 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. Based on 2022 figures, imports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Poland (X tons) and Lithuania (X tons) were the main suppliers of plaits and basketwork imports to Latvia, with a combined X% share of total imports.

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

In value terms, the largest plaits and basketwork suppliers to Latvia were Poland ($X), China ($X) and Vietnam ($X), with a combined X% share of total imports.

Poland, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average plaits and basketwork import price amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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