Latvia: Container Market 2024

Container Market Size in Latvia

The Latvian container market skyrocketed to $X in 2023, with an increase of X% against the previous year. Overall, consumption, however, saw a abrupt downturn. Container consumption peaked at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Container Production in Latvia

In value terms, container production reduced slightly to $X in 2023 estimated in export price. Over the period under review, production recorded a deep downturn. The pace of growth was the most pronounced in 2022 with an increase of X%. Container production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Container Exports

Exports from Latvia

In 2023, exports of tanks, casks, drums, cans, boxes and similar containers from Latvia reduced notably to X units, declining by X% compared with the year before. Over the period under review, exports continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, container exports fell to $X in 2023. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked at $X in 2022, and then fell in the following year.

Exports by Country

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

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

In terms of the main countries of destination, Ireland, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2023, the average container export price amounted to $X per unit, increasing by X% against the previous year. Over the period under review, export price indicated temperate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, container export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2022 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to Estonia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Norway (X%), while the prices for the other major destinations experienced more modest paces of growth.

Container Imports

Imports into Latvia

Container imports into Latvia dropped to X units in 2023, declining by X% on the previous year's figure. Over the period under review, total imports indicated modest growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, container imports dropped slightly to $X in 2023. Overall, total imports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at $X in 2022, and then reduced slightly in the following year.

Imports by Country

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

From 2012 to 2023, 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 Germany ($X), Finland ($X) and Estonia ($X), together accounting for X% of total imports. Poland, France, Lithuania, Russia, Sweden, the Netherlands, Denmark, Turkey, Italy and Ukraine lagged somewhat behind, together accounting for a further X%.

Among 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

In 2023, the average container import price amounted to $X per unit, surging by X% against the previous year. In general, import price indicated slight growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, container import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The import price peaked in 2023 and is likely to continue growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform