Latvia: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024

Market Size for Tube Or Pipe Fittings (Of Iron Or Steel) in Latvia

The Latvian market for tube or pipe fittings (of iron or steel) surged to $X in 2022, growing by X% against the previous year. In general, the total consumption indicated a perceptible expansion 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, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Tube Or Pipe Fittings (Of Iron Or Steel) in Latvia

In value terms, iron or steel tube fitting production stood at $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. Iron or steel tube fitting production peaked in 2022 and is expected to retain growth in the near future.

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Exports of Tube Or Pipe Fittings (Of Iron Or Steel)

Exports from Latvia

In 2022, approx. X tons of tube or pipe fittings (of iron or steel) were exported from Latvia; surging by X% compared with 2021 figures. In general, exports recorded a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, iron or steel tube fitting exports skyrocketed to $X in 2022. Over the period under review, exports recorded a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons), Sweden (X tons) and Lithuania (X tons) were the main destinations of iron or steel tube fitting exports from Latvia, together comprising X% of total exports. Estonia, Tajikistan, Spain, Finland, Denmark, Norway, Turkey and Germany lagged somewhat behind, together comprising a further X%.

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

In value terms, Russia ($X) emerged as the key foreign market for tube or pipe fittings (of iron or steel) exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Sweden ($X), with an X% share of total exports. It was followed by Lithuania, with a X% share.

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

Export Prices by Country

The average export price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price showed a prominent 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 export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Tajikistan ($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.

Imports of Tube Or Pipe Fittings (Of Iron Or Steel)

Imports into Latvia

In 2022, approx. X tons of tube or pipe fittings (of iron or steel) were imported into Latvia; with an increase of X% compared with 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel tube fitting imports skyrocketed to $X in 2022. Over the period under review, total imports indicated perceptible growth 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 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Poland (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of iron or steel tube fitting imports to Latvia, with a combined X% share of total imports. Lithuania, Denmark, China, Belgium, the Netherlands and the UK lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest iron or steel tube fitting suppliers to Latvia were Poland ($X), Germany ($X) and Italy ($X), together comprising X% of total imports. Lithuania, Denmark, the Netherlands, Belgium, China and the UK lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Denmark, 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 import price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, almost unchanged from the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2021, and then dropped slightly 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 the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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