Latvia: Container Market 2024

Container Market Size in Latvia

In 2022, the Latvian container market increased by X% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, continues to indicate a abrupt decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Container Production in Latvia

In value terms, container production reduced slightly to $X in 2022 estimated in export price. Overall, production showed a abrupt contraction. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Container production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Container Exports

Exports from Latvia

In 2022, approx. X units of tanks, casks, drums, cans, boxes and similar containers were exported from Latvia; increasing by X% against the previous year's figure. In general, exports, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, container exports surged to $X in 2022. The total export value 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 pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Germany (X units), Lithuania (X units) and the United States (X units) were the main destinations of container exports from Latvia, together comprising X% of total exports. Estonia, the UK, Belgium, Switzerland, Italy, Sweden, the Czech Republic, Australia, France and Poland lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for container exported from Latvia were Germany ($X), the United States ($X) and Lithuania ($X), with a combined X% share of total exports. Estonia, the UK, Switzerland, Belgium, Italy, Sweden, Australia, the Czech Republic, France and Poland lagged somewhat behind, together comprising a further X%.

The Czech Republic, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average container export price stood at $X per unit in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Estonia ($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 Lithuania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Container Imports

Imports into Latvia

In 2022, the amount of tanks, casks, drums, cans, boxes and similar containers imported into Latvia expanded remarkably to X units, growing by X% compared with the previous year. In general, total imports indicated measured growth 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 pace of growth was the most pronounced in 2017 with an increase of X%. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, container imports amounted to $X in 2022. Over the period under review, total imports indicated a measured increase 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 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Estonia (X units), Poland (X units) and Finland (X units) were the main suppliers of container imports to Latvia, together comprising X% of total imports. Germany, France, Lithuania, Russia, Belgium, Denmark, Sweden and Belarus lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest container suppliers to Latvia were Poland ($X), France ($X) and Germany ($X), with a combined X% share of total imports.

In terms of the main suppliers, France, with a CAGR of X%, saw the highest growth rate of 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 container import price stood at $X per unit in 2022, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 an increase of X%. The import price peaked at $X per unit in 2021, and then declined modestly in the following year.

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 France ($X per unit), while the price for Estonia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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