Latvia: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Latvia

The Latvian unvulcanized rubber market fell to $X in 2022, shrinking by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a slight curtailment. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Unvulcanized Rubber Exports

Exports from Latvia

Unvulcanized rubber exports from Latvia skyrocketed to X tons in 2022, increasing by X% on the previous year's figure. In general, exports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, unvulcanized rubber exports soared to $X in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

Russia (X tons) was the main destination for unvulcanized rubber exports from Latvia, accounting for a X% share of total exports. Moreover, unvulcanized rubber exports to Russia exceeded the volume sent to the second major destination, Germany (X tons), threefold. Estonia (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, Russia ($X) remains the key foreign market for unvulcanized rubber and articles thereof exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Belarus, 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: Germany (X% per year) and Belarus (X% per year).

Export Prices by Country

The average unvulcanized rubber export price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price showed a buoyant expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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

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Unvulcanized Rubber Imports

Imports into Latvia

In 2022, approx. X tons of unvulcanized rubber and articles thereof were imported into Latvia; standing approx. at the year before. Over the period under review, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, unvulcanized rubber imports rose markedly to $X in 2022. Overall, imports, however, recorded a pronounced descent. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Belgium (X tons), Germany (X tons) and Lithuania (X tons) were the main suppliers of unvulcanized rubber imports to Latvia, together accounting for X% of total imports. The Netherlands, Russia, Poland, Italy, Finland, the UK, Malaysia, the Czech Republic and Sweden lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest unvulcanized rubber suppliers to Latvia were Germany ($X), Belgium ($X) and the Netherlands ($X), with a combined X% share of total imports.

The Netherlands, with a CAGR of X%, saw 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 unvulcanized rubber import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, import price indicated a prominent expansion 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, unvulcanized rubber import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

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

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

Source: IndexBox Platform

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