Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Latvia - 2023
Contents:
- Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Latvia (CIF) - 2022
- Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Latvia (FOB) - 2022
- Imports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Latvia
- Exports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Latvia
Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Latvia (CIF) - 2022
In 2022, the average import price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs amounted to $96,124 per unit, declining by -2% against the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs increased by +62.0% against 2015 indices. The growth pace was the most rapid in 2021 when the average import price increased by 18% against the previous year. As a result, import price reached the peak level of $98,128 per unit, and then contracted in the following year.
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 the UK ($217,975 per unit), while the price for Canada ($4,440 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Latvia (FOB) - 2022
In 2022, the average export price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs amounted to $91,247 per unit, falling by -34.4% against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the average export price increased by 16%. The export price peaked at $139,056 per unit in 2021, and then reduced remarkably in the following year.
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 Estonia ($154,124 per unit), while the average price for exports to Tajikistan ($5,828 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 France (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Latvia
In 2022, approx. 652 units of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs were imported into Latvia; increasing by 21% on the previous year. The total import volume increased at an average annual rate of +2.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs skyrocketed to $65M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +10.0% 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 +71.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 41% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 8.2 | 9.8 | 19.3 | 25.0 | 45.0% |
| United Kingdom | 26.3 | 19.1 | 21.0 | 19.2 | -10.0% |
| Estonia | 10.4 | 7.6 | 8.3 | 8.7 | -5.8% |
| Belgium | N/A | 0.1 | 0.7 | 2.7 | 419.6% |
| United States | 0.6 | 0.4 | 0.7 | 1.5 | 35.7% |
| Lithuania | 1.3 | 0.3 | 0.4 | 1.1 | -5.4% |
| Japan | 0.6 | 0.3 | 0.2 | 0.6 | 0.0% |
| Canada | 0.1 | N/A | 0.1 | N/A | 0.0% |
| Others | 1.7 | 0.5 | 2.9 | 6.6 | 57.2% |
| Total | 49.2 | 38.3 | 53.8 | 65.5 | 10.0% |
Top Suppliers of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc to Latvia in 2022:
- Germany (199.0 units)
- Estonia (162.0 units)
- United Kingdom (88.0 units)
- United States (56.0 units)
- Japan (41.0 units)
- Belgium (30.0 units)
- Lithuania (16.0 units)
- Canada (10.0 units)
Exports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Latvia
For the fourth consecutive year, Latvia recorded growth in shipments abroad of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs, which increased by 80% to 526 units in 2022. Over the period under review, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs skyrocketed to $48M in 2022. In general, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +17.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28%. The exports peaked in 2022 and are likely to continue growth in years to come.
| Export of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 5.8 | 5.4 | 8.7 | 13.7 | 33.2% |
| Germany | 13.0 | 13.4 | 15.5 | 13.6 | 1.5% |
| Lithuania | 3.3 | 4.9 | 7.6 | 6.5 | 25.4% |
| Sweden | 2.6 | 2.2 | 1.4 | 3.3 | 8.3% |
| France | 0.7 | 1.4 | 1.0 | 1.3 | 22.9% |
| Netherlands | 0.4 | 0.4 | 0.2 | 0.9 | 31.0% |
| Finland | 0.9 | 0.9 | 0.4 | 0.8 | -3.9% |
| Bulgaria | N/A | 0.8 | 0.1 | 0.5 | -20.9% |
| Others | 3.0 | 2.3 | 5.7 | 7.8 | 37.5% |
| Total | 29.7 | 31.6 | 40.6 | 48.5 | 17.8% |
Top Export Markets for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc from Latvia in 2022:
- Germany (130.0 units)
- Estonia (89.0 units)
- Lithuania (85.0 units)
- Sweden (53.0 units)
- Netherlands (46.0 units)
- France (24.0 units)
- Bulgaria (15.0 units)
- Finland (12.0 units)
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