Latvia: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Latvia

In 2022, the Latvian wooden kitchen furniture market increased by X% to $X, rising for the fourth year in a row after five years of decline. Over the period under review, consumption enjoyed a prominent increase. Wooden kitchen furniture consumption peaked in 2022 and is expected to retain growth in years to come.

Wooden Kitchen Furniture Production in Latvia

In value terms, wooden kitchen furniture production surged to $X in 2022 estimated in export price. Overall, production posted a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, production hit record highs in 2022 and is expected to retain growth in years to come.

Wooden Kitchen Furniture Exports

Exports from Latvia

In 2022, shipments abroad of wooden furniture for kitchens decreased by X% to X units, falling for the third consecutive year after four years of growth. Overall, exports faced a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, wooden kitchen furniture exports expanded slightly to $X in 2022. In general, exports, however, posted strong growth. The pace of growth appeared the most rapid in 2020 when exports increased by X%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Estonia (X units) was the main destination for wooden kitchen furniture exports from Latvia, accounting for a X% share of total exports. Moreover, wooden kitchen furniture exports to Estonia exceeded the volume sent to the second major destination, Denmark (X units), fourfold. France (X units) ranked third in terms of total exports with a X% share.

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

In value terms, Russia ($X), Denmark ($X) and Estonia ($X) appeared to be the largest markets for wooden kitchen furniture exported from Latvia worldwide, together accounting for X% of total exports. The UK, Belgium, France, the Netherlands, the United States, Norway, Sweden, Kyrgyzstan, Poland and Lithuania lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Kyrgyzstan, with a CAGR of X%, recorded the highest growth rate of 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

The average wooden kitchen furniture export price stood at $X per unit in 2022, picking up by X% against the previous year. Over the period under review, the export price recorded a significant expansion. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 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 ($X per unit), while the average price for exports to Estonia ($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 the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Kitchen Furniture Imports

Imports into Latvia

Wooden kitchen furniture imports into Latvia fell slightly to X units in 2022, reducing by X% compared with the previous year. Overall, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, wooden kitchen furniture imports totaled $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 decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Lithuania (X units), Poland (X units) and Ukraine (X units) were the main suppliers of wooden kitchen furniture imports to Latvia, together comprising X% of total imports. Estonia, Russia, Finland, Italy, Germany and Denmark lagged somewhat behind, together comprising a further X%.

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

In value terms, Poland ($X), Lithuania ($X) and Italy ($X) appeared to be the largest wooden kitchen furniture suppliers to Latvia, together accounting for X% of total imports. Ukraine, Germany, Estonia, Finland, Russia and Denmark lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Finland, 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 wooden kitchen furniture import price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the import price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

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

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

Source: IndexBox Platform

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