Waxes; Artificial, Prepared Price in Latvia - 2023

Contents:

1. Waxes; Artificial, Prepared Price in Latvia (CIF) - 2022
2. Waxes; Artificial, Prepared Price in Latvia (FOB) - 2022
3. Waxes; Artificial, Prepared Imports in Latvia
4. Waxes; Artificial, Prepared Exports in Latvia

Waxes; Artificial, Prepared Price in Latvia (CIF) - 2022

In 2022, the average waxes; artificial, prepared import price amounted to $4,055 per ton, stabilizing at the previous year. Overall, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 when the average import price increased by 142%. Over the period under review, average import prices hit record highs at $10,096 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($7,336 per ton), while the price for Indonesia ($706 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Waxes; Artificial, Prepared Price in Latvia (FOB) - 2022

The average waxes; artificial, prepared export price stood at $9,754 per ton in 2022, increasing by 18% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 80% against the previous year. The export price peaked at $13,303 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($19,800 per ton), while the average price for exports to Croatia ($5,655 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 Poland (+27.4%), while the prices for the other major destinations experienced more modest paces of growth.

Waxes; Artificial, Prepared Imports in Latvia

For the fourth year in a row, Latvia recorded growth in overseas purchases of waxes; artificial, prepared, which increased by 22% to 364 tons in 2022. In general, imports posted a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 261%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, waxes; artificial, prepared imports surged to $1.5M in 2022. Over the period under review, imports recorded a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 144% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Top Suppliers of Waxes; Artificial, Prepared to Latvia in 2022:

1. Indonesia (115.9 tons)
2. Sweden (111.3 tons)
3. Germany (41.7 tons)
4. Lithuania (33.5 tons)
5. Spain (14.0 tons)
6. Italy (13.5 tons)
7. United Kingdom (12.4 tons)

Waxes; Artificial, Prepared Exports in Latvia

In 2022, approx. 31 tons of waxes; artificial, prepared were exported from Latvia; rising by 34% against 2021 figures. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 35%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, waxes; artificial, prepared exports skyrocketed to $304K in 2022. In general, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +9.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Waxes; Artificial, Prepared from Latvia in 2022:

1. Russia (11.3 tons)
2. Estonia (7.1 tons)
3. Lithuania (4.4 tons)
4. United Kingdom (3.2 tons)
5. Belarus (1.0 tons)
6. Switzerland (1.0 tons)
7. Croatia (0.7 tons)

Source: IndexBox Market Intelligence Platform