Latvia: Plastic Container Market 2024

Plastic Container Market Size in Latvia

The Latvian plastic container market totaled $X in 2022, growing by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Plastic container consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Plastic Container Production in Latvia

In value terms, plastic container production soared to $X in 2022 estimated in export price. Overall, production recorded a perceptible reduction. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Plastic Container Exports

Exports from Latvia

Plastic container exports from Latvia expanded sharply to X tons in 2022, surging by X% compared with 2021 figures. In general, exports saw a strong increase. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, plastic container exports amounted to $X in 2022. Overall, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

Lithuania (X tons) was the main destination for plastic container exports from Latvia, accounting for a X% share of total exports. Moreover, plastic container exports to Lithuania exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. The third position in this ranking was held by Estonia (X tons), with a X% share.

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

In value terms, Lithuania ($X) remains the key foreign market for plastic containers exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Estonia ($X), with a X% share of total exports. It was followed by the Netherlands, with an X% share.

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

Export Prices by Country

In 2022, the average plastic container export price amounted to $X per ton, dropping by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. The export price peaked at $X per ton in 2021, and then dropped in the following year.

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 more modest paces of growth.

Plastic Container Imports

Imports into Latvia

In 2022, approx. X tons of plastic containers were imported into Latvia; with an increase of X% compared with the year before. Overall, imports posted a resilient increase. The growth pace was 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 tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic container imports stood at $X in 2022. Over the period under review, imports posted buoyant growth. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Belarus (X tons), Poland (X tons) and Lithuania (X tons) were the main suppliers of plastic container imports to Latvia, together comprising X% of total imports. Denmark, the Netherlands, Estonia, Finland and Sweden lagged somewhat behind, together comprising a further X%.

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

In value terms, Belarus ($X), Poland ($X) and Lithuania ($X) constituted the largest plastic container suppliers to Latvia, with a combined X% share of total imports. Finland, the Netherlands, Sweden, Estonia and Denmark lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Denmark, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average plastic container import price stood at $X per ton in 2022, leveling off at the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Sweden ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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