Price for Electrical Push-Button and Rotary Switch in Latvia - 2024
Contents:
- Price for Electrical Push-Button and Rotary Switch in Latvia (FOB) - 2024
- Price for Electrical Push-Button and Rotary Switch in Latvia (CIF) - 2024
- Exports of Electrical Push-Button and Rotary Switch in Latvia
- Imports of Electrical Push-Button and Rotary Switch in Latvia
Price for Electrical Push-Button and Rotary Switch in Latvia (FOB) - 2024
The average export price for electrical push-button and rotary switches for under 1000 v stood at $3.1 per unit in February 2024, reducing by -13% against the previous month. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in September 2023 when the average export price increased by 23% against the previous month. Over the period under review, the average export prices reached the peak figure at $3.5 per unit in January 2024, and then contracted in the following month.
There were significant differences in the average prices for the major external markets. In February 2024, the country with the highest price was Denmark ($5.9 per unit), while the average price for exports to Norway ($653 per thousand units) was amongst the lowest.
From February 2023 to February 2024, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Electrical Push-Button and Rotary Switch in Latvia (CIF) - 2024
In February 2024, the average import price for electrical push-button and rotary switches for under 1000 v amounted to $2.6 per unit, surging by 14% against the previous month. Over the period from February 2023 to February 2024, it increased at an average monthly rate of +1.8%. The most prominent rate of growth was recorded in December 2023 when the average import price increased by 45% month-to-month. As a result, import price attained the peak level of $2.8 per unit. From January 2024 to February 2024, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In February 2024, the country with the highest price was Hungary ($13.9 per unit), while the price for Turkey ($1.1 per unit) was amongst the lowest.
From February 2023 to February 2024, the most notable rate of growth in terms of prices was attained by Spain (+38.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Electrical Push-Button and Rotary Switch in Latvia
In 2022, electrical push-button and rotary switch exports from Latvia soared to 25M units, jumping by 24% on 2021. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 82%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, electrical push-button and rotary switch exports rose modestly to $50M in 2022. Overall, exports showed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 60% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Electrical Push-Button and Rotary Switch in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 0.3 | 0.7 | 8.9 | 13.3 | 253.9% |
| France | 2.8 | 6.5 | 13.0 | 8.0 | 41.9% |
| Norway | N/A | 2.7 | 6.7 | 5.3 | 40.1% |
| Lithuania | 2.4 | 3.3 | 3.8 | 4.9 | 26.9% |
| Sweden | 0.4 | 0.2 | 1.9 | 4.0 | 115.4% |
| Denmark | 2.9 | 3.6 | 3.8 | 3.8 | 9.4% |
| Estonia | 2.0 | 1.9 | 2.6 | 3.4 | 19.3% |
| Germany | 6.4 | 7.7 | 1.2 | 1.2 | -42.8% |
| Spain | 1.2 | 0.3 | 0.9 | 1.0 | -5.9% |
| Others | 2.4 | 2.9 | 4.7 | 4.8 | 26.0% |
| Total | 20.8 | 29.8 | 47.5 | 49.8 | 33.8% |
Top Export Markets for Electrical Push-Button and Rotary Switch from Latvia in 2022:
- Norway (8.1M units)
- Lithuania (3.7M units)
- Netherlands (3.2M units)
- Estonia (2.3M units)
- France (2.3M units)
- Sweden (2.1M units)
- Denmark (1.2M units)
- Germany (0.4M units)
- Spain (0.3M units)
Imports of Electrical Push-Button and Rotary Switch in Latvia
In 2022, the amount of electrical push-button and rotary switches for under 1000 v imported into Latvia stood at 15M units, with an increase of 8% compared with 2021 figures. The total import volume increased at an average annual rate of +8.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 33%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.
In value terms, electrical push-button and rotary switch imports rose rapidly to $30M in 2022. The total import value increased at an average annual rate of +12.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 22% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.
| Import of Electrical Push-Button and Rotary Switch in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 7.6 | 7.2 | 7.4 | 8.6 | 4.2% |
| Hungary | 2.5 | 2.4 | 3.4 | 4.1 | 17.9% |
| Germany | 3.6 | 3.6 | 3.4 | 3.6 | 0.0% |
| Sweden | 0.5 | 0.7 | 2.8 | 2.7 | 75.4% |
| Poland | 1.6 | 1.3 | 1.6 | 2.5 | 16.0% |
| Lithuania | 1.0 | 1.7 | 2.4 | 2.5 | 35.7% |
| Spain | 0.7 | 0.9 | 0.9 | 1.0 | 12.6% |
| Turkey | 0.1 | N/A | 0.1 | 0.2 | 26.0% |
| Others | 3.1 | 3.4 | 3.8 | 4.4 | 12.4% |
| Total | 20.6 | 21.2 | 25.8 | 29.5 | 12.7% |
Top Suppliers of Electrical Push-Button and Rotary Switch to Latvia in 2022:
- Lithuania (2.6M units)
- Hungary (2.6M units)
- Poland (2.3M units)
- Sweden (1.9M units)
- Estonia (1.7M units)
- Spain (1.3M units)
- Germany (1.0M units)
- Turkey (0.3M units)
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