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Latvia - Crude Oil and Processed Petroleum - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Crude Oil and Processed Petroleum in Latvia - 2023
Contents:
- Price for Crude Oil and Processed Petroleum in Latvia (CIF) - 2022
- Price for Crude Oil and Processed Petroleum in Latvia (FOB) - 2022
- Imports of Crude Oil and Processed Petroleum in Latvia
- Exports of Crude Oil and Processed Petroleum in Latvia
Price for Crude Oil and Processed Petroleum in Latvia (CIF) - 2022
The average import price for crude oil and processed petroleum stood at $386 per ton in 2022, approximately mirroring the previous year. Overall, the import price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of 34% against the previous year. The import price peaked at $910 per ton in 2012; however, from 2013 to 2022, 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 the Netherlands ($493 per ton), while the price for Kazakhstan ($79 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (-7.5%), while the prices for the other major suppliers experienced a decline.
Price for Crude Oil and Processed Petroleum in Latvia (FOB) - 2022
The average export price for crude oil and processed petroleum stood at $1,220 per ton in 2022, jumping by 67% against the previous year. In general, the export price recorded slight growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($1,906 per ton), while the average price for exports to Hungary ($1,066 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 Afghanistan (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Crude Oil and Processed Petroleum in Latvia
In 2022, the amount of crude oil and processed petroleum imported into Latvia surged to 13M tons, picking up by 71% on 2021. Over the period under review, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, crude oil and processed petroleum imports skyrocketed to $5B in 2022. In general, imports recorded a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Import of Crude Oil and Processed Petroleum in Latvia (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Lithuania | 560 | 319 | 696 | 3,643 | 86.7% |
Finland | 221 | 219 | 332 | 712 | 47.7% |
Netherlands | 1.4 | 0.9 | 29.7 | 110 | 328.3% |
United States | 3.2 | 1.8 | 2.8 | 77.8 | 189.7% |
Kazakhstan | N/A | 0.1 | 0.1 | 59.1 | 2331.0% |
Russia | 2,705 | 1,432 | 1,605 | N/A | -23.0% |
Others | 199 | 89.8 | 235 | 358 | 21.6% |
Total | 3,688 | 2,063 | 2,900 | 4,960 | 10.4% |
Top Suppliers of Crude Oil and Processed Petroleum to Latvia in 2022:
- Lithuania (7.8M tons)
- Finland (3.2M tons)
- Kazakhstan (0.8M tons)
- Netherlands (0.2M tons)
- United States (0.2M tons)
Exports of Crude Oil and Processed Petroleum in Latvia
For the fourth consecutive year, Latvia recorded growth in shipments abroad of crude oil and processed petroleum, which increased by 26% to 404K tons in 2022. In general, exports saw significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 43% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.
In value terms, crude oil and processed petroleum exports soared to $493M in 2022. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 113%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.
Export of Crude Oil and Processed Petroleum in Latvia (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Lithuania | 71.0 | 50.9 | 105 | 153 | 29.2% |
Ukraine | 1.2 | 2.4 | 0.8 | 140 | 388.6% |
Germany | 3.3 | 11.4 | 26.0 | 85.2 | 195.6% |
Estonia | 4.1 | 10.9 | 23.1 | 16.9 | 60.3% |
Hungary | N/A | 8.8 | 33.9 | 12.2 | 17.7% |
United Kingdom | 0.2 | 0.6 | 3.6 | 11.8 | 289.3% |
Poland | 12.0 | 2.9 | 3.8 | 6.8 | -17.2% |
Others | 46.1 | 22.3 | 38.9 | 66.2 | 12.8% |
Total | 138 | 110 | 235 | 493 | 52.9% |
Top Export Markets for Crude Oil and Processed Petroleum from Latvia in 2022:
- Lithuania (126.0K tons)
- Ukraine (115.0K tons)
- Germany (73.2K tons)
- Estonia (15.3K tons)
- Hungary (11.4K tons)
- United Kingdom (10.4K tons)
- Poland (5.1K tons)
This report provides an in-depth analysis of the market for crude oil and processed petroleum 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:
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
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Latvia.
This report provides an in-depth analysis of the crude oil market in Latvia.
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
This report provides an in-depth analysis of the global crude oil market.
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Latvia.
This report provides an in-depth analysis of the crude oil market in Latvia.
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
This report provides an in-depth analysis of the global crude oil market.
Explore the top import markets for crude oil and examine key statistics related to their import value. China, the United States, and India lead the pack.
Explore the top import markets for crude oil and examine key statistics related to their import value. China, the United States, and India lead the pack.