Latvia: Market for Builders' Joinery And Carpentry Of Wood 2024

Market Size for Builders' Joinery And Carpentry Of Wood in Latvia

The Latvian wooden joinery and carpentry market soared to $X in 2023, picking up by X% against the previous year. Overall, the total consumption indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Wooden joinery and carpentry consumption peaked at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Production of Builders' Joinery And Carpentry Of Wood in Latvia

In value terms, wooden joinery and carpentry production soared to $X in 2023 estimated in export price. Overall, production recorded a slight increase. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Exports of Builders' Joinery And Carpentry Of Wood

Exports from Latvia

In 2023, shipments abroad of builders' joinery and carpentry of wood decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports saw a slight decline. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, wooden joinery and carpentry exports reduced rapidly to $X in 2023. Overall, total exports indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for wooden joinery and carpentry exports from Latvia, accounting for a X% share of total exports. Moreover, wooden joinery and carpentry exports to Germany exceeded the volume sent to the second major destination, Sweden (X tons), twofold. The third position in this ranking was held by Lithuania (X tons), with an X% share.

From 2012 to 2023, the average annual growth rate of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and Lithuania (X% per year).

In value terms, Sweden ($X) remains the key foreign market for builders' joinery and carpentry of wood exports from Latvia, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Sweden stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Germany (X% per year).

Export Prices by Country

The average wooden joinery and carpentry export price stood at $X per ton in 2023, reducing by X% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, wooden joinery and carpentry export price increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2022, and then shrank in the following year.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Builders' Joinery And Carpentry Of Wood

Imports into Latvia

Wooden joinery and carpentry imports into Latvia surged to X tons in 2023, with an increase of X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, wooden joinery and carpentry imports surged to $X in 2023. Overall, total imports indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Estonia (X tons) constituted the largest supplier of wooden joinery and carpentry to Latvia, accounting for a X% share of total imports. Moreover, wooden joinery and carpentry imports from Estonia exceeded the figures recorded by the second-largest supplier, Poland (X tons), fivefold. Lithuania (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Estonia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Lithuania (X% per year).

In value terms, Estonia ($X) constituted the largest supplier of builders' joinery and carpentry of wood to Latvia, comprising X% of total imports. The second position in the ranking was held by Poland ($X), with a X% share of total imports. It was followed by Lithuania, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Estonia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Lithuania (X% per year).

Import Prices by Country

The average wooden joinery and carpentry import price stood at $X per ton in 2023, dropping by X% against the previous year. Overall, import price indicated a tangible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, wooden joinery and carpentry import price increased by X% against 2017 indices. The growth pace was the most rapid in 2013 an increase of X% against the previous year. The import price peaked at $X per ton in 2022, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lithuania (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform