Latvia - Household Hand Tools - Market Analysis, Forecast, Size, Trends And Insights
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View PricingHousehold Hand Tools Price in Latvia - 2023
Contents:
- Household Hand Tools Price in Latvia (CIF) - 2023
- Household Hand Tools Price in Latvia (FOB) - 2022
- Household Hand Tools Imports in Latvia
- Household Hand Tools Exports in Latvia
Household Hand Tools Price in Latvia (CIF) - 2023
The average household hand tools import price stood at $10,735 per ton in September 2023, shrinking by -36.3% against the previous month. In general, the import price continues to indicate a mild reduction. The most prominent rate of growth was recorded in July 2023 an increase of 42% m-o-m. Over the period under review, average import prices reached the maximum at $16,853 per ton in August 2023, and then declined significantly in the following month.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Italy ($29,039 per ton), while the price for China ($5,155 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Estonia (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Household Hand Tools Price in Latvia (FOB) - 2022
In 2022, the average household hand tools export price amounted to $14,857 per ton, declining by -11.6% against the previous year. In general, the export price, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 151% against the previous year. The export price peaked at $19,640 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($24,721 per ton), while the average price for exports to Denmark ($8,746 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 Poland (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.
Household Hand Tools Imports in Latvia
In 2022, household hand tools imports into Latvia rose sharply to 116 tons, growing by 6.6% on 2021 figures. Overall, imports, however, continue to indicate a abrupt curtailment.
In value terms, household hand tools imports declined slightly to $1.5M in 2022. The total import value increased at an average annual rate of +2.0% from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 18% against the previous year. As a result, imports attained the peak of $1.6M. From 2021 to 2022, the growth of imports remained at a lower figure.
Import of Household Hand Tools in Latvia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Germany | 213 | 220 | 209 | 289 | 10.7% |
Poland | 198 | 164 | 255 | 259 | 9.4% |
Finland | 50.8 | 50.9 | 111 | 129 | 36.4% |
China | 108 | 101 | 127 | 129 | 6.1% |
Estonia | 124 | 80.1 | 128 | 122 | -0.5% |
Lithuania | 334 | 206 | 232 | 121 | -28.7% |
Italy | 89.4 | 122 | 120 | 116 | 9.1% |
Netherlands | 67.8 | 74.5 | 60.1 | 80.3 | 5.8% |
Czech Republic | 33.0 | 53.6 | 56.7 | 34.2 | 1.2% |
Sweden | 80.9 | 56.5 | 30.1 | 9.5 | -51.0% |
Others | 102 | 518 | 157 | 195 | 24.1% |
Total | 1,400 | 1,646 | 1,485 | 1,484 | 2.0% |
Top Suppliers of Household Hand Tools to Latvia in 2022:
- Poland (29.1 tons)
- Germany (21.8 tons)
- China (11.7 tons)
- Lithuania (10.1 tons)
- Finland (9.7 tons)
- Estonia (9.2 tons)
- Netherlands (5.0 tons)
- Italy (3.8 tons)
- Czech Republic (2.7 tons)
- Sweden (0.8 tons)
Household Hand Tools Exports in Latvia
In 2022, the amount of household hand tools exported from Latvia stood at 28 tons, picking up by 9.6% against the year before. Overall, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +15.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +55.0% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 35% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, household hand tools exports dropped to $420K in 2022. In general, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +16.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -13.0% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 81% against the previous year. As a result, the exports attained the peak of $483K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
Export of Household Hand Tools in Latvia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Estonia | 80.2 | 174 | 121 | 126 | 16.3% |
Lithuania | 74.6 | 87.2 | 112 | 118 | 16.5% |
Russia | 97.4 | 187 | 145 | 81.8 | -5.7% |
Armenia | N/A | N/A | 0.5 | 38.6 | 7620.0% |
United States | 0.2 | N/A | N/A | 21.0 | 371.8% |
Poland | N/A | 4.2 | 7.9 | 6.7 | 26.3% |
Others | 14.3 | 29.9 | 48.1 | 27.6 | 24.5% |
Total | 267 | 483 | 434 | 420 | 16.3% |
Top Export Markets for Household Hand Tools from Latvia in 2022:
- Lithuania (8.7 tons)
- Estonia (7.7 tons)
- Russia (3.5 tons)
- Armenia (2.0 tons)
- United States (0.8 tons)
- Poland (0.5 tons)
This report provides an in-depth analysis of the household hand tools market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25733065 - Household hand tools
Country coverage:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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