Latvia: Refrigerator And Freezer Market 2024

Refrigerator And Freezer Market Size in Latvia

After four years of growth, the Latvian refrigerator and freezer market decreased by X% to $X in 2022. Over the period under review, consumption, however, enjoyed a resilient expansion. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Refrigerator And Freezer Exports

Exports from Latvia

After four years of growth, overseas shipments of refrigerators and freezers decreased by X% to X units in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the exports attained the peak figure at X units in 2021, and then reduced rapidly in the following year.

In value terms, refrigerator and freezer exports dropped to $X in 2022. Over the period under review, exports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then declined modestly in the following year.

Exports by Country

Lithuania (X units), Estonia (X units) and Russia (X units) were the main destinations of refrigerator and freezer exports from Latvia, together comprising X% of total exports. The Czech Republic, Kyrgyzstan and Germany lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for refrigerator and freezer exported from Latvia were Lithuania ($X), Estonia ($X) and Russia ($X), together accounting for X% of total exports. Kyrgyzstan, the Czech Republic and Germany lagged somewhat behind, together comprising a further X%.

Kyrgyzstan, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average refrigerator and freezer export price amounted to $X per unit, picking up by X% against the previous year. Overall, the export price posted a resilient increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Germany ($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 Kyrgyzstan (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Refrigerator And Freezer Imports

Imports into Latvia

After four years of growth, supplies from abroad of refrigerators and freezers decreased by X% to X units in 2022. Over the period under review, total imports indicated a modest increase from 2012 to 2022: its volume 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 growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X units in 2021, and then declined remarkably in the following year.

In value terms, refrigerator and freezer imports reduced to $X in 2022. In general, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

Poland (X units), Lithuania (X units) and Germany (X units) were the main suppliers of refrigerator and freezer imports to Latvia, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constituted the largest supplier of refrigerators and freezers to Latvia, comprising X% of total imports. The second position in the ranking was taken by Lithuania ($X), with an X% share of total imports. It was followed by Germany, with a X% share.

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

Import Prices by Country

In 2022, the average refrigerator and freezer import price amounted to $X per unit, growing by X% against the previous year. Over the period under review, import price indicated a remarkable 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. Based on 2022 figures, refrigerator and freezer import price increased by X% against 2016 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per unit), while the price for Lithuania ($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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