Price for Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in Latvia - 2023

Contents:

1. Price for Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in Latvia (CIF) - 2023
2. Price for Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in Latvia (FOB) - 2022
3. Imports of Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in Latvia
4. Exports of Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in Latvia

Price for Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in Latvia (CIF) - 2023

The average import price for pharmaceutical goods; appliances identifiable for ostomy uses stood at $61,954 per ton in November 2023, shrinking by -3.3% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.5%. The growth pace was the most rapid in September 2023 an increase of 30% against the previous month. As a result, import price reached the peak level of $76,435 per ton. From October 2023 to November 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Estonia ($92,944 per ton), while the price for Ireland ($54,736 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Germany (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in Latvia (FOB) - 2022

The average export price for pharmaceutical goods; appliances identifiable for ostomy uses stood at $52,789 per ton in 2022, which is down by -17.3% against the previous year. In general, the export price continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2018 an increase of 31% against the previous year. Over the period under review, the average export prices hit record highs at $91,789 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($107,122 per ton), while the average price for exports to Lithuania amounted to $50,445 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.4%).

Imports of Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in Latvia

In 2022, the amount of pharmaceutical goods; appliances identifiable for ostomy uses imported into Latvia soared to 18 tons, with an increase of 16% against 2021 figures. The total import volume increased at an average annual rate of +14.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 17% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of pharmaceutical goods; appliances identifiable for ostomy uses amounted to $1M in 2022. The total import value increased at an average annual rate of +10.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 18% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Pharmaceutical Goods; Appliances Identifiable for Ostomy Use to Latvia in 2022:

1. Ireland (11.7 tons)
2. Estonia (5.1 tons)
3. Denmark (0.5 tons)
4. Germany (0.5 tons)

Exports of Pharmaceutical Goods; Appliances Identifiable for Ostomy Use in Latvia

In 2022, approx. 12 tons of pharmaceutical goods; appliances identifiable for ostomy uses were exported from Latvia; picking up by 27% compared with the previous year. The total export volume increased at an average annual rate of +11.6% over the period from 2019 to 2022; however, the trend pattern 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.

In value terms, exports of pharmaceutical goods; appliances identifiable for ostomy uses amounted to $656K in 2022. The total export value increased at an average annual rate of +10.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 21% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Top Export Markets for Pharmaceutical Goods; Appliances Identifiable for Ostomy Use from Latvia in 2022:

1. Lithuania (11.8 tons)
2. United States (0.4 tons)
3. United Kingdom (0.1 tons)

Source: IndexBox Market Intelligence Platform