Price for Electric Motors; of an Output Not Exceeding 37.5W in Latvia - 2023
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Latvia (CIF) - 2022
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Latvia (FOB) - 2022
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Latvia
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in Latvia
Price for Electric Motors; of an Output Not Exceeding 37.5W in Latvia (CIF) - 2022
The average import price for electric motors stood at $9 per unit in 2022, growing by 14% against the previous year. Overall, the import price, however, faced a deep downturn. The most prominent rate of growth was recorded in 2014 an increase of 15%. As a result, import price attained the peak level of $36 per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($36 per unit), while the price for Lithuania ($4.4 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.7%), while the prices for the other major suppliers experienced a decline.
Price for Electric Motors; of an Output Not Exceeding 37.5W in Latvia (FOB) - 2022
In 2022, the average export price for electric motors amounted to $53 per unit, picking up by 23% against the previous year. Over the period under review, the export price recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 an increase of 72% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($330 per unit), while the average price for exports to China ($8.7 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 Hong Kong SAR (+28.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Latvia
For the fourth consecutive year, Latvia recorded growth in supplies from abroad of electric motors, which increased by 13% to 576K units in 2022. Over the period under review, imports saw significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 143%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of electric motors skyrocketed to $5.2M in 2022. Overall, imports showed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 518 | 736 | 1,020 | 1,306 | 36.1% |
| China | 420 | 429 | 978 | 1,170 | 40.7% |
| Germany | 501 | 435 | 515 | 959 | 24.2% |
| Denmark | 258 | 294 | 251 | 346 | 10.3% |
| Poland | 156 | 182 | 182 | 303 | 24.8% |
| Taiwan (Chinese) | 29.7 | 24.5 | 89.9 | 101 | 50.4% |
| South Korea | 37.7 | 47.1 | 50.7 | 73.2 | 24.8% |
| Others | 606 | 723 | 958 | 935 | 15.6% |
| Total | 2,526 | 2,870 | 4,046 | 5,194 | 27.2% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Latvia in 2022:
- Lithuania (298.3K units)
- China (126.7K units)
- Germany (42.3K units)
- Poland (24.1K units)
- South Korea (15.7K units)
- Taiwan (Chinese) (15.5K units)
- Denmark (9.7K units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in Latvia
In 2022, approx. 50K units of electric motors were exported from Latvia; increasing by 50% compared with 2021 figures. Overall, exports enjoyed a perceptible expansion. The pace of growth was the most pronounced in 2021 when exports increased by 88%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of electric motors skyrocketed to $2.6M in 2022. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 97% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 169 | 240 | 327 | 1,506 | 107.3% |
| Italy | N/A | N/A | 383 | 501 | 30.8% |
| Lithuania | 69.4 | 55.6 | 67.4 | 95.3 | 11.2% |
| Belarus | 35.5 | 56.7 | 57.0 | 11.1 | -32.1% |
| Kyrgyzstan | N/A | N/A | N/A | 9.4 | 0% |
| Malaysia | 164 | 208 | 141 | N/A | -7.3% |
| India | 463 | N/A | N/A | N/A | 0% |
| Pakistan | 77.3 | 30.9 | 279 | N/A | 90.0% |
| Others | 73.5 | 136 | 178 | 511 | 90.9% |
| Total | 1,053 | 727 | 1,432 | 2,635 | 35.8% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from Latvia in 2022:
- Russia (42.1K units)
- Italy (1.5K units)
- Lithuania (1.0K units)
- Kyrgyzstan (0.9K units)
- Belarus (0.7K units)
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