Latvia - Direction Finding Compasses - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLatvia: Direction Finding Compass Market 2024
Direction Finding Compass Market Size in Latvia
In 2023, the Latvian direction finding compass market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption showed a slight downturn. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market failed to regain momentum.
Direction Finding Compass Production in Latvia
In value terms, direction finding compass production fell to $X in 2023 estimated in export price. Overall, production recorded a significant decline. The pace of growth appeared the most rapid in 2022 when the production volume increased by X%. Direction finding compass production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.
Direction Finding Compass Exports
Exports from Latvia
For the seventh consecutive year, Latvia recorded growth in shipments abroad of direction finding compasses, which increased by X% to X units in 2023. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in years to come.
In value terms, direction finding compass exports contracted rapidly to $X in 2023. Overall, exports showed significant growth. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.
Exports by Country
Turkey (X units) was the main destination for direction finding compass exports from Latvia, with a X% share of total exports. Moreover, direction finding compass exports to Turkey exceeded the volume sent to the second major destination, Bulgaria (X units), threefold. The third position in this ranking was held by Spain (X units), with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to Turkey amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (X% per year) and Spain (X% per year).
In value terms, Turkey ($X) remains the key foreign market for direction finding compasses exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Spain ($X), with a X% share of total exports. It was followed by Bulgaria, with an X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to Turkey stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and Bulgaria (X% per year).
Export Prices by Country
In 2023, the average direction finding compass export price amounted to $X per unit, waning by X% against the previous year. In general, the export price continues to indicate a precipitous curtailment. The growth pace was the most rapid in 2018 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2023, the average export prices remained at a lower figure.
Average prices varied somewhat for the major external markets. In 2023, amid the top suppliers, the highest price was recorded for prices to Saint Kitts and Nevis ($X per unit) and the Netherlands ($X per unit), while the average price for exports to Greece ($X per unit) and Sweden ($X per unit) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Liberia (X%), while the prices for the other major destinations experienced mixed trend patterns.
Direction Finding Compass Imports
Imports into Latvia
In 2023, overseas purchases of direction finding compasses increased by X% to X units, rising for the second year in a row after two years of decline. In general, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.
In value terms, direction finding compass imports soared to $X in 2023. Overall, imports posted significant growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked in 2023 and are likely to continue growth in the near future.
Imports by Country
Germany (X units), the Netherlands (X units) and Japan (X units) were the main suppliers of direction finding compass imports to Latvia, with a combined X% share of total imports. Estonia, Armenia, China, Lithuania and Finland lagged somewhat behind, together comprising a further X%.
From 2020 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Estonia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Germany ($X) constituted the largest supplier of direction finding compasses to Latvia, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by Estonia, with a X% share.
From 2020 to 2023, the average annual rate of growth in terms of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Estonia (X% per year).
Import Prices by Country
The average direction finding compass import price stood at $X per unit in 2023, growing by X% against the previous year. Over the last three-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2022 to 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Estonia ($X per unit), while the price for China ($X per unit) was amongst the lowest.
From 2020 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the direction finding compass market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26511120 - Direction finding compasses (including magnetic, gyroscopic, b innacle and position finding)
Country coverage:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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