Price for Machinery; Parts of Machinery of Heading No. 8422 in Latvia - 2023

Contents:

1. Price for Machinery; Parts of Machinery of Heading No. 8422 in Latvia (CIF) - 2022
2. Price for Machinery; Parts of Machinery of Heading No. 8422 in Latvia (FOB) - 2022
3. Imports of Machinery; Parts of Machinery of Heading No. 8422 in Latvia
4. Exports of Machinery; Parts of Machinery of Heading No. 8422 in Latvia

Price for Machinery; Parts of Machinery of Heading No. 8422 in Latvia (CIF) - 2022

The average import price for machinery; parts of machinery of heading no. 8422 stood at $54,975 per ton in 2022, with a decrease of -2.9% against the previous year. Overall, the import price, however, recorded a slight expansion. The growth pace was the most rapid in 2019 when the average import price increased by 43%. The import price peaked at $68,888 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($87,641 per ton), while the price for Lithuania ($25,875 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Machinery; Parts of Machinery of Heading No. 8422 in Latvia (FOB) - 2022

In 2022, the average export price for machinery; parts of machinery of heading no. 8422 amounted to $80,506 per ton, increasing by 28% against the previous year. In general, the export price recorded buoyant growth. The pace of growth appeared the most rapid in 2017 an increase of 477%. Over the period under review, the average export prices attained the maximum at $174,604 per ton 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($107,039 per ton), while the average price for exports to Bulgaria ($8,589 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 Germany (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machinery; Parts of Machinery of Heading No. 8422 in Latvia

In 2022, imports of machinery; parts of machinery of heading no. 8422 into Latvia expanded markedly to 85 tons, growing by 11% on the year before. Over the period under review, imports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by 20% against the previous year.

In value terms, imports of machinery; parts of machinery of heading no. 8422 rose markedly to $4.7M in 2022. The total import value increased at an average annual rate of +3.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 26% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Top Suppliers of Machinery; Parts of Machinery of Heading No. 8422 to Latvia in 2022:

1. Germany (20.5 tons)
2. Italy (19.9 tons)
3. Lithuania (18.7 tons)
4. Poland (6.2 tons)
5. Belgium (4.2 tons)
6. Estonia (3.3 tons)
7. Denmark (3.2 tons)
8. China (1.1 tons)
9. Bulgaria (0.5 tons)

Exports of Machinery; Parts of Machinery of Heading No. 8422 in Latvia

In 2022, the amount of machinery; parts of machinery of heading no. 8422 exported from Latvia surged to 33 tons, growing by 36% on 2021 figures. In general, exports showed significant growth. The growth pace was the most rapid in 2021 with an increase of 60%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of machinery; parts of machinery of heading no. 8422 surged to $2.7M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +11.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Machinery; Parts of Machinery of Heading No. 8422 from Latvia in 2022:

1. Russia (16.3 tons)
2. Lithuania (8.7 tons)
3. Estonia (3.2 tons)
4. Germany (1.1 tons)
5. United States (0.9 tons)
6. Bulgaria (0.6 tons)

Source: IndexBox Market Intelligence Platform