Price for Cutlery; Other than Plated with Precious Metal in Latvia - 2023

Contents:

1. Price for Cutlery; Other than Plated with Precious Metal in Latvia (CIF) - 2022
2. Price for Cutlery; Other than Plated with Precious Metal in Latvia (FOB) - 2022
3. Imports of Cutlery; Other than Plated with Precious Metal in Latvia
4. Exports of Cutlery; Other than Plated with Precious Metal in Latvia

Price for Cutlery; Other than Plated with Precious Metal in Latvia (CIF) - 2022

In 2022, the average import price for cutlery; other than plated with precious metals amounted to $12,212 per ton, growing by 13% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 26%. Over the period under review, average import prices attained the maximum at $15,143 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($59,683 per ton), while the price for China ($6,497 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+30.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cutlery; Other than Plated with Precious Metal in Latvia (FOB) - 2022

In 2022, the average export price for cutlery; other than plated with precious metals amounted to $19,842 per ton, dropping by -12.2% against the previous year. In general, the export price, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 114%. Over the period under review, the average export prices hit record highs at $24,125 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($111,037 per ton), while the average price for exports to Spain ($6,842 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 Russia (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cutlery; Other than Plated with Precious Metal in Latvia

In 2022, imports of cutlery; other than plated with precious metals into Latvia skyrocketed to 134 tons, picking up by 20% on the previous year's figure. The total import volume increased at an average annual rate of +7.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of cutlery; other than plated with precious metals surged to $1.6M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +10.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.1% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Cutlery; Other than Plated with Precious Metal to Latvia in 2022:

1. Brazil (32.0 tons)
2. China (27.3 tons)
3. Lithuania (18.3 tons)
4. Germany (13.1 tons)
5. Poland (10.5 tons)
6. Estonia (7.0 tons)
7. Netherlands (5.6 tons)
8. Finland (3.9 tons)
9. Czech Republic (2.8 tons)
10. Italy (1.8 tons)

Exports of Cutlery; Other than Plated with Precious Metal in Latvia

In 2022, approx. 27 tons of cutlery; other than plated with precious metals were exported from Latvia; rising by 46% on 2021 figures. Over the period under review, total exports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +15.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +83.4% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of cutlery; other than plated with precious metals skyrocketed to $531K in 2022. Overall, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +26.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +100.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 33% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Cutlery; Other than Plated with Precious Metal from Latvia in 2022:

1. Estonia (10.1 tons)
2. Lithuania (8.8 tons)
3. Spain (6.1 tons)
4. Russia (1.1 tons)

Source: IndexBox Market Intelligence Platform