Business forms and interleaved carbon sets market in Latvia

Earlier Report Observations

In 2018, the market for business forms and interleaved carbon sets in Latvia was highly concentrated, with two players holding significant market shares and influencing pricing. Supported by the Latvian Investment and Development Agency (LIAA) for exporters, export volumes were substantial, but by 2019 exports had declined, contributing to a rise in domestic market size to 523.4 thousand USD despite a drop in production.

The COVID-19 pandemic in 2020 sharply reduced both imports and exports, disrupting supply chains and business activity. A recovery in 2021 was facilitated by improved access to financing for companies, allowing imports and exports to temporarily rebound.

The geopolitical shock from Russia's invasion of Ukraine in 2022 led to supply chain ruptures and increased raw material costs, impacting the market. Simultaneously, the entry of new retail chains such as LIDL and SPAR heightened competition in retail distribution. In subsequent years, imports continued to fall, and production dropped to 421.0 thousand USD by 2024, shrinking the market volume to 337.9 thousand USD.

Production business forms and interleaved carbon sets in Latvia

In value, 2018-2021, K $ US

In 2019, the output value of business forms and interleaved carbon sets in Latvia was 586.7 thousand US dollars, showing a moderate decrease of 9.5% compared to 2018.

Annual dynamics of production in Latvia in value, 2018-2021, K $ US

In kind, 2018-2021, kg

Latvia's production volume of business forms and interleaved carbon sets declined for the second consecutive year. In 2019, the country produced 49 340 kg, which represents a sharp decrease of 33.6% from the previous year. Overall, production fell by 45.1% between 2018 and 2019, equating to an annualized decline of 18.1%.

Annual dynamics of production in Latvia in kind, 2018-2021, kg

Exports business forms and interleaved carbon sets from Latvia

Exports in kind, kg

The market exhibited volatility during the observed period. Export volumes reached their lowest point in 2020 and peaked in 2018, with a 5.4-fold difference between these years. In 2021, Latvia's exports of business forms and interleaved carbon sets totaled 17 173 kg, marking a sudden increase of 250.3% compared to the previous year. The minimum volume was recorded in 2020 at 4 903 kg, while the largest decline occurred in 2020, dropping by 65.7%.

Annual dynamics of product's exports from Latvia in kind, 2018-2021, kg

From 2018 to 2021, Lithuania, Estonia, and Belarus were the top contributors to Latvia's exports in kind. Lithuania accounted for 51.9% of exports, Estonia for 12.8%, and Belarus for 11.6%, collectively making up 76.2% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Latvia in kind, 2018-2021

Exports in value, K $ US

Market performance showed noticeable fluctuations over the period. Export values varied sixfold, with the low in 2020 and the high in 2018. In 2021, Latvia's export value of business forms and interleaved carbon sets reached 89.0 thousand US dollars, which is 198.2% higher than in 2020. The minimum value was recorded in 2020 at 29.9 thousand US dollars, and the largest decline occurred in 2020, falling by 68.9%.

Annual dynamics of product's exports from Latvia in value, 2018-2021, K $ US

Between 2018 and 2021, the main destinations for Latvia's exports in value terms were Lithuania, Switzerland, and Sweden. Lithuania contributed 35.4% of export value, Switzerland 17.2%, and Sweden 15.7%, together accounting for 68.2% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Latvia in value, 2018-2021

Imports business forms and interleaved carbon sets to Latvia

Imports in kind, kg

The data indicates irregular changes, reflecting a volatile market environment. Import volumes dropped to their minimum in 2020 and climbed to their maximum in 2018, showing a 22-fold shift. In 2021, Latvia imported a total of business forms and interleaved carbon sets, amounting to a gain of 171.1% compared to the previous year. The minimum volume was recorded in 2020 at 231 kg, and the largest decline occurred in 2020, decreasing by 87.0%.

Annual dynamics of product's imports to Latvia in kind, 2018-2021, kg

From 2018 to 2021, Lithuania and the Netherlands were the key sources for Latvia's imports in kind, jointly accounting for 85.7% of total import flows. Other partners played a much less significant role individually.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Latvia in kind, 2018-2021

Imports in value, K $ US

The market displayed signs of volatility during the observed period. Import values varied by a factor of 11.5, with the low in 2020 and the high in 2019. In 2021, Latvia's imports of business forms and interleaved carbon sets registered 9.7 thousand US dollars, which is 241.0% higher than in 2020. The minimum value was recorded in 2020 at 2.8 thousand US dollars, while the maximum value was in 2019 at 32.6 thousand US dollars. The largest decline occurred in 2020, dropping by 91.3%.

Annual dynamics of product's imports to Latvia in value, 2018-2021, K $ US

Between 2018 and 2021, three principal markets—the Netherlands, Lithuania, and Russia—together accounted for 81.0% of Latvia's total imports in value terms for business forms and interleaved carbon sets.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Latvia in value, 2018-2021