Price for Pearls; Articles of Natural or Cultured Pearls in Latvia - 2023

Contents:

1. Price for Pearls; Articles of Natural or Cultured Pearls in Latvia (CIF) - 2022
2. Price for Pearls; Articles of Natural or Cultured Pearls in Latvia (FOB) - 2022
3. Imports of Pearls; Articles of Natural or Cultured Pearls in Latvia
4. Exports of Pearls; Articles of Natural or Cultured Pearls in Latvia

Price for Pearls; Articles of Natural or Cultured Pearls in Latvia (CIF) - 2022

In 2022, the average import price for pearls; articles of natural or cultured pearlses amounted to $850,978 per ton, growing by 76% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $874,376 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Spain ($4,593,286 per ton), while the price for Hong Kong SAR ($313,714 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.9%), while the prices for the other major suppliers experienced a decline.

Price for Pearls; Articles of Natural or Cultured Pearls in Latvia (FOB) - 2022

The average export price for pearls; articles of natural or cultured pearlses stood at $977,333 per ton in 2022, which is down by -23.1% against the previous year. Over the period under review, the export price, however, enjoyed a pronounced increase. The pace of growth appeared the most rapid in 2021 when the average export price increased by 821% against the previous year. The export price peaked at $3,046,833 per ton in 2015; however, from 2016 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 Estonia ($965,000 per ton), while the average price for exports to the Netherlands ($26,000 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 Estonia (+7.1%).

Imports of Pearls; Articles of Natural or Cultured Pearls in Latvia

In 2022, purchases abroad of pearls; articles of natural or cultured pearlses decreased by -31.5% to 89 kg, falling for the second year in a row after two years of growth. In general, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +7.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -33.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 85%. As a result, imports reached the peak of 133 kg. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of pearls; articles of natural or cultured pearlses surged to $76K in 2022. The total import value increased at an average annual rate of +6.5% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 23%. As a result, imports reached the peak of $77K. From 2021 to 2022, the growth of imports of remained at a lower figure.

Top Suppliers of Pearls; Articles of Natural or Cultured Pearls to Latvia in 2022:

1. China (58.0 kg)
2. Estonia (9.0 kg)
3. Hong Kong SAR (7.0 kg)
4. Spain (7.0 kg)
5. Italy (3.0 kg)

Exports of Pearls; Articles of Natural or Cultured Pearls in Latvia

In 2022, after three years of growth, there was decline in shipments abroad of pearls; articles of natural or cultured pearlses, when their volume decreased by 0% to 3 kg. Overall, exports posted significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 200%. Over the period under review, the exports of reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of pearls; articles of natural or cultured pearlses shrank remarkably to $2.9K in 2022. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 2,664%. As a result, the exports attained the peak of $3.8K, and then reduced dramatically in the following year.

Top Export Markets for Pearls; Articles of Natural or Cultured Pearls from Latvia in 2022:

1. Netherlands (1.0 kg)
2. Lithuania (1.0 kg)
3. Estonia (1.0 kg)

Source: IndexBox Market Intelligence Platform