Wool; Carded Price in Latvia - 2023

Wool; Carded Price in Latvia (FOB) - 2022

The average wool; carded export price stood at $11,287 per ton in 2022, stabilizing at the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 4.5%. The export price peaked at $11,915 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat 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 Germany ($18,438 per ton), while the average price for exports to Lithuania ($11,006 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 (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Wool; Carded Price in Latvia (CIF) - 2022

In 2022, the average wool; carded import price amounted to $12,044 per ton, standing approx. at the previous year. Over the period under review, the import price recorded a drastic downturn. The most prominent rate of growth was recorded in 2013 an increase of 248% against the previous year. As a result, import price attained the peak level of $88,419 per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($12,822 per ton), while the price for Austria totaled $10,175 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (-3.4%).

Wool; Carded Exports in Latvia

In 2022, shipments abroad of wool; carded decreased by -12.9% to 9.7 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 41% against the previous year. As a result, the exports attained the peak of 13 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, wool; carded exports shrank to $109K in 2022. The total export value increased at an average annual rate of +1.2% 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 2020 when exports increased by 44%. As a result, the exports attained the peak of $152K. From 2021 to 2022, the growth of the exports remained at a lower figure.

Export of Wool; Carded in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Lithuania	19.2	54.6	58.8	59.2	45.5%
Ukraine	35.9	34.1	34.0	20.6	-16.9%
Belarus	7.2	6.3	5.5	13.5	23.3%
Sweden	0.9	N/A	0.3	7.0	98.1%
Estonia	18.9	4.5	8.2	6.2	-31.0%
Russia	N/A	N/A	10.2	N/A	0%
Slovakia	4.5	0.6	4.5	N/A	0.0%
United Kingdom	17.9	50.1	N/A	N/A	179.9%
Others	1.1	1.7	4.9	3.0	39.7%
Total	106	152	126	109	0.9%

Top Export Markets for Wool; Carded from Latvia in 2022:

Lithuania (5.4 tons)
Ukraine (1.8 tons)
Belarus (1.2 tons)
Sweden (0.6 tons)
Estonia (0.5 tons)

Wool; Carded Imports in Latvia

For the fourth year in a row, Latvia recorded growth in supplies from abroad of wool; carded, which increased by 107% to 6.5 tons in 2022. Over the period under review, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 1,871%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, wool; carded imports soared to $78K in 2022. Overall, imports recorded significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 1,547%. Imports peaked in 2022 and are likely to see steady growth in years to come.