Latvia: Man-Made Filament Fabric Market 2024

Man-Made Filament Fabric Market Size in Latvia

In 2022, the Latvian man-made filament fabric market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, recorded a strong increase. Man-made filament fabric consumption peaked at $X in 2021, and then declined in the following year.

Man-Made Filament Fabric Exports

Exports from Latvia

In 2022, exports of woven fabrics of man-made filaments and staple fibers from Latvia rose slightly to X square meters, surging by X% compared with the year before. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of X square meters. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, man-made filament fabric exports stood at $X in 2022. Over the period under review, total exports indicated a modest 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Ukraine (X square meters), Lithuania (X square meters) and Russia (X square meters) were the main destinations of man-made filament fabric exports from Latvia, together comprising X% of total exports. Estonia, Sweden, Poland, Finland, Italy, Norway, Belarus, the United States, Denmark and Portugal lagged somewhat behind, together accounting for a further X%.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), Russia ($X) and Belarus ($X) constituted the largest markets for man-made filament fabric exported from Latvia worldwide, with a combined X% share of total exports. Lithuania, Estonia, Finland, Sweden, Norway, Poland, Italy, Denmark, the United States and Portugal lagged somewhat behind, together comprising a further X%.

Portugal, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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

In 2021, the average man-made filament fabric export price amounted to $X per square meter, rising by X% against the previous year. In general, the export price, however, showed a deep contraction. Over the period under review, the average export prices attained the peak figure at $X per square meter in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Belarus ($X per square meter), while the average price for exports to Sweden ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Man-Made Filament Fabric Imports

Imports into Latvia

In 2022, the amount of woven fabrics of man-made filaments and staple fibers imported into Latvia was estimated at X square meters, approximately mirroring the previous year's figure. Overall, imports showed a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X square meters. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, man-made filament fabric imports reduced modestly to $X in 2022. In general, imports, however, recorded a mild descent. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Sweden (X square meters), Spain (X square meters) and China (X square meters) were the main suppliers of man-made filament fabric imports to Latvia, together accounting for X% of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Sweden ($X) and Italy ($X) appeared to be the largest man-made filament fabric suppliers to Latvia, together accounting for X% of total imports. Germany, China, Taiwan (Chinese), Belgium, Estonia, Poland, South Korea, the Netherlands, Vietnam and India lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 man-made filament fabric import price stood at $X per square meter in 2021, growing by X% against the previous year. Over the period under review, the import price, however, showed a deep slump. The import price peaked at $X per square meter in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per square meter), while the price for India ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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