Latvia: Radio Receiver Market 2024

Radio Receiver Market Size in Latvia

In 2022, the Latvian radio receiver market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption continues to indicate a pronounced decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Radio Receiver Production in Latvia

In value terms, radio receiver production declined to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Radio Receiver Exports

Exports from Latvia

After two years of decline, overseas shipments of radio receivers increased by X% to X units in 2022. Overall, exports, however, continue to indicate a abrupt slump. 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 failed to regain momentum.

In value terms, radio receiver exports fell to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Lithuania (X units), Sweden (X units) and Estonia (X units) were the main destinations of radio receiver exports from Latvia, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Estonia (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, Sweden ($X) remains the key foreign market for radio receivers exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total exports.

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

Export Prices by Country

The average radio receiver export price stood at $X per unit in 2022, shrinking by X% against the previous year. Overall, the export price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then reduced in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to Lithuania ($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 Sweden (X%), while the prices for the other major destinations experienced mixed trend patterns.

Radio Receiver Imports

Imports into Latvia

After two years of decline, purchases abroad of radio receivers increased by X% to X units in 2022. In general, imports, however, saw a noticeable downturn. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, radio receiver imports rose rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced decrease. The growth pace was the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Lithuania (X units), China (X units) and Poland (X units) were the main suppliers of radio receiver 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, Estonia ($X) constituted the largest supplier of radio receivers to Latvia, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by Lithuania, with an X% share.

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

Import Prices by Country

In 2022, the average radio receiver import price amounted to $X per unit, with an increase of X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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