Report Update May 1, 2024

Latvia - Sewing Machine Needles - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in Latvia

In 2022, after two years of growth, there was significant decline in the Latvian sewing machine needle market, when its value decreased by X% to $X. In general, consumption, however, continues to indicate resilient growth. Sewing machine needle consumption peaked at $X in 2021, and then shrank rapidly in the following year.

Sewing Machine Needle Production in Latvia

In value terms, sewing machine needle production stood at $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume decreased by X%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Sewing Machine Needle Exports

Exports from Latvia

In 2022, the amount of sewing machine needles exported from Latvia soared to X units, picking up by X% against the previous year. In general, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sewing machine needle exports soared to $X in 2022. Overall, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X units) was the main destination for sewing machine needle exports from Latvia, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Russia stood at X%.

In value terms, Russia ($X) also remains the key foreign market for sewing machine needles exports from Latvia.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at X%.

Export Prices by Country

In 2022, the average sewing machine needle export price amounted to $X per thousand units, falling by X% against the previous year. In general, the export price showed a abrupt curtailment. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per thousand units in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to X% per year.

Sewing Machine Needle Imports

Imports into Latvia

In 2022, overseas purchases of sewing machine needles increased by X% to X units, rising for the third year in a row after two years of decline. Over the period under review, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sewing machine needle imports skyrocketed to $X in 2022. In general, imports recorded significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Estonia (X units) was the main supplier of sewing machine needle to Latvia, accounting for a X% share of total imports. It was followed by Germany (X units), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Estonia stood at X%.

In value terms, Estonia ($X) constituted the largest supplier of sewing machine needles to Latvia, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Estonia amounted to X%.

Import Prices by Country

In 2022, the average sewing machine needle import price amounted to less than $X per unit, with a decrease of X% against the previous year. In general, the import price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 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 Germany (less than $X per unit), while the price for Estonia amounted to less than $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sewing machine needles in the world?

The countries with the highest volumes of consumption in 2023 were China, India and Nigeria, together accounting for 58% of global consumption. Kyrgyzstan, Democratic Republic of the Congo, the Czech Republic, Singapore, Japan and the Netherlands lagged somewhat behind, together accounting for a further 25%.

What are the largest producers of sewing machine needles in the world?

China constituted the country with the largest volume of sewing machine needle production, comprising approx. 47% of total volume. Moreover, sewing machine needle production in China exceeded the figures recorded by the second-largest producer, India, twofold. The third position in this ranking was taken by the Czech Republic, with a 9.2% share.

What are the leading suppliers of sewing machine needles to Latvia?

In value terms, Estonia constituted the largest supplier of sewing machine needles to Latvia, comprising 94% of total imports. The second position in the ranking was taken by Germany, with a 3.9% share of total imports.

What are the leading importers of sewing machine needles from Latvia?

In value terms, Russia remains the key foreign market for sewing machine needles exports from Latvia.

What is the average export price for sewing machine needles in Latvia?

In 2022, the average sewing machine needle export price amounted to $17 per thousand units, reducing by -32.6% against the previous year.

What is the average import price for sewing machine needles in Latvia?

The average sewing machine needle import price stood at less than $0.1 per unit in 2022, dropping by -40.2% against the previous year.

This report provides an in-depth analysis of the sewing machine needle 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 28945230 - Sewing machine needles

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023