Latvia: Market for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers 2024

Market Size for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers in Latvia

After three years of growth, the Latvian market for iron, steel or aluminium reservoirs, tanks, vats and similar containers decreased by X% to $X in 2020. Over the period under review, consumption saw a relatively flat trend pattern. Iron, steel or aluminium reservoir consumption peaked at $X in 2015; however, from 2016 to 2020, consumption failed to regain momentum.

Production of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers in Latvia

In value terms, iron, steel or aluminium reservoir production stood at $X in 2020 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2020; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when the production volume increased by X%. Over the period under review, production hit record highs in 2020 and is expected to retain growth in years to come.

Exports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Exports from Latvia

In 2020, overseas shipments of iron, steel or aluminium reservoirs, tanks, vats and similar containers increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports reached the peak figure in 2020 and are expected to retain growth in the immediate term.

In value terms, iron, steel or aluminium reservoir exports skyrocketed to $X in 2020. In general, exports recorded a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2020 and are expected to retain growth in the immediate term.

Exports by Country

Sweden (X units), Lithuania (X units) and Finland (X units) were the main destinations of iron, steel or aluminium reservoir exports from Latvia, with a combined X% share of total exports. Ukraine, the Philippines and Estonia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2020, the biggest increases were recorded for Ukraine (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Lithuania ($X) and Finland ($X) constituted the largest markets for iron, steel or aluminium reservoir exported from Latvia worldwide, together comprising X% of total exports. Estonia, Ukraine and the Philippines lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Ukraine, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2020, the average export price for iron, steel or aluminium reservoirs, tanks, vats and similar containers amounted to $X per unit, increasing by X% against the previous year. Overall, the export price, however, recorded a slight descent. The pace of growth appeared the most rapid in 2018 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2020, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2020, amid the top suppliers, the country with the highest price was Finland ($X per unit), while the average price for exports to the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Imports into Latvia

In 2020, approx. X units of iron, steel or aluminium reservoirs, tanks, vats and similar containers were imported into Latvia; waning by X% against the previous year. Over the period under review, imports saw a perceptible downturn. The growth pace was the most rapid in 2018 when imports increased by X%. Imports peaked at X units in 2015; however, from 2016 to 2020, imports stood at a somewhat lower figure.

In value terms, iron, steel or aluminium reservoir imports declined notably to $X in 2020. Overall, imports saw a abrupt decline. The pace of growth was the most pronounced in 2018 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2020, imports stood at a somewhat lower figure.

Imports by Country

The UK (X units), Turkey (X units) and the Czech Republic (X units) were the main suppliers of iron, steel or aluminium reservoir imports to Latvia, together comprising X% of total imports.

From 2012 to 2020, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Lithuania ($X) and the Czech Republic ($X) appeared to be the largest iron, steel or aluminium reservoir suppliers to Latvia, with a combined X% share of total imports. The UK, Turkey, Denmark, the Netherlands, Italy, Poland, Estonia, Luxembourg, Belarus and Spain lagged somewhat behind, together comprising a further X%.

Belarus, with a CAGR of X%, recorded the highest growth rate of 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

The average import price for iron, steel or aluminium reservoirs, tanks, vats and similar containers stood at $X per unit in 2020, increasing by X% against the previous year. In general, the import price, however, saw a slight setback. The import price peaked at $X per unit in 2012; however, from 2013 to 2020, import prices failed to regain momentum.

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

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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