Price for Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor in Latvia - 2024
Contents:
- Price for Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor in Latvia (CIF) - 2024
- Price for Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor in Latvia (FOB) - 2022
- Imports of Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor in Latvia
- Exports of Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor in Latvia
Price for Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor in Latvia (CIF) - 2024
The average import price for in-hand motor grinders, sanders and planers stood at $91.7 per unit in January 2024, increasing by 62% against the previous month. In general, import price indicated a tangible increase from January 2023 to January 2024: its price increased at an average monthly rate of +4.5% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on January 2024 figures, import price for in-hand motor grinders, sanders and planers increased by +61.7% against December 2023 indices. Over the period under review, average import prices hit record highs at $107 per unit in August 2023; however, from September 2023 to January 2024, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Estonia ($171 per unit), while the price for China ($26.5 per unit) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Germany (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor in Latvia (FOB) - 2022
In 2022, the average export price for in-hand motor grinders, sanders and planers amounted to $78 per unit, growing by 6.4% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +8.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for in-hand motor grinders, sanders and planers increased by +8.4% against 2020 indices. The pace of growth was the most pronounced in 2015 when the average export price increased by 35%. Over the period under review, the average export prices hit record highs at $81 per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($263 per unit), while the average price for exports to Estonia ($44 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Armenia (+81.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor in Latvia
For the fourth consecutive year, Latvia recorded growth in purchases abroad of in-hand motor grinders, sanders and planers, which increased by 13% to 341K units in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +18.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.7% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, imports of in-hand motor grinders, sanders and planers stood at $20M in 2022. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +19.0% 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 +68.6% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 34% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
| Import of Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 4.8 | 5.5 | 7.0 | 7.1 | 13.9% |
| Estonia | 2.3 | 2.7 | 4.3 | 4.1 | 21.3% |
| Poland | 1.0 | 1.8 | 2.1 | 2.5 | 35.7% |
| Lithuania | 0.8 | 1.1 | 2.1 | 2.2 | 40.1% |
| China | 1.4 | 1.5 | 1.6 | 2.0 | 12.6% |
| Finland | 0.9 | 0.9 | 0.9 | 0.9 | 0.0% |
| Netherlands | 0.2 | 0.3 | 0.9 | 0.3 | 14.5% |
| Others | 0.6 | 1.1 | 0.9 | 1.2 | 26.0% |
| Total | 12.0 | 14.8 | 19.8 | 20.3 | 19.2% |
Top Suppliers of Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor to Latvia in 2022:
- Germany (138.3K units)
- China (63.5K units)
- Lithuania (42.8K units)
- Estonia (36.2K units)
- Poland (25.6K units)
- Netherlands (8.0K units)
- Finland (6.9K units)
Exports of Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor in Latvia
After three years of growth, shipments abroad of in-hand motor grinders, sanders and planers decreased by -15% to 93K units in 2022. The total export volume increased at an average annual rate of +2.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 21%. As a result, the exports reached the peak of 110K units, and then fell in the following year.
In value terms, exports of in-hand motor grinders, sanders and planers fell to $7.3M in 2022. The total export value increased at an average annual rate of +2.0% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 24%. As a result, the exports reached the peak of $8.1M, and then shrank in the following year.
| Export of Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 3.9 | 3.2 | 4.7 | 3.7 | -1.7% |
| Poland | 0.2 | 0.2 | 0.3 | 1.5 | 95.7% |
| Estonia | 1.4 | 1.2 | 1.3 | 1.3 | -2.4% |
| Germany | 0.3 | 0.5 | 0.3 | 0.2 | -12.6% |
| Armenia | N/A | N/A | N/A | 0.2 | 0% |
| Russia | 0.9 | 1.4 | 1.2 | 0.2 | -39.4% |
| Others | 0.1 | 0.1 | 0.2 | 0.3 | 44.2% |
| Total | 6.9 | 6.5 | 8.1 | 7.3 | 1.9% |
Top Export Markets for Electromechanical Tools for Working in the Hand, with Self-Contained Electric Motor from Latvia in 2022:
- Lithuania (50.5K units)
- Estonia (29.4K units)
- Poland (5.6K units)
- Armenia (2.7K units)
- Germany (2.1K units)
- Russia (1.7K units)
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