Latvia: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in Latvia

The Latvian non-cotton terry towelling market dropped rapidly to $X in 2023, shrinking by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Non-Cotton Terry Towelling Exports

Exports from Latvia

In 2023, after eight years of growth, there was significant decline in overseas shipments of terry towelling (excluding of cotton), when their volume decreased by X% to X square meters. In general, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at X square meters in 2022, and then declined markedly in the following year.

In value terms, non-cotton terry towelling exports reduced notably to $X in 2023. Over the period under review, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Estonia (X square meters) was the main destination for non-cotton terry towelling exports from Latvia, with a X% share of total exports. Moreover, non-cotton terry towelling exports to Estonia exceeded the volume sent to the second major destination, Lithuania (X square meters), twofold.

From 2013 to 2023, the average annual growth rate of volume to Estonia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and the UK (X% per year).

In value terms, Estonia ($X) remains the key foreign market for terry towelling (excluding of cotton) exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total exports.

From 2013 to 2023, the average annual growth rate of value to Estonia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and the UK (X% per year).

Export Prices by Country

In 2023, the average non-cotton terry towelling export price amounted to $X per square meter, surging by X% against the previous year. Overall, the export price recorded a pronounced expansion. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The export price peaked at $X per square meter in 2019; however, from 2020 to 2023, 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 the UK ($X per square meter), while the average price for exports to Estonia ($X per square meter) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Cotton Terry Towelling Imports

Imports into Latvia

In 2023, imports of terry towelling (excluding of cotton) into Latvia fell notably to X square meters, waning by X% on 2022. Overall, imports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at X square meters in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, non-cotton terry towelling imports contracted significantly to $X in 2023. In general, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

Belgium (X square meters), Poland (X square meters) and the Netherlands (X square meters) were the main suppliers of non-cotton terry towelling imports to Latvia, together comprising X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest non-cotton terry towelling suppliers to Latvia were Belgium ($X), Poland ($X) and the Netherlands ($X), together accounting for X% of total imports.

Belgium, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average non-cotton terry towelling import price amounted to $X per square meter, with an increase of X% against the previous year. In general, the import price continues to indicate a prominent expansion. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2023 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per square meter), while the price for Lithuania ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform