Men's woven jackets and blazers market in Latvia

Earlier Report Observations

The market for men's woven jackets and blazers in Latvia experienced notable volatility between 2018 and 2024. Volume peaked in 2019 at 254.6 thousand pieces, before declining to 233.1 thousand pieces in 2020. This initial downturn coincided with the COVID-19 pandemic, which reduced consumer spending on apparel. The market continued to contract in physical terms, falling to 199.0 thousand pieces in 2022 and reaching a low of 159.1 thousand pieces in 2023, before a slight recovery to 166.2 thousand pieces in 2024. In value terms, the market followed a similar pattern, rising to $6.4 million in 2019, dropping sharply to $5.0 million in 2020, then recovering to $5.5 million in 2023 before easing to $4.9 million in 2024.

Key drivers behind these shifts emerged from changes in consumer behavior and labor market conditions. In 2022, buyer habits for clothing shifted markedly, with price, product availability, and variety becoming the primary decision factors over fashion trends, dampening demand for men's jackets. The lingering effects of the COVID-19 pandemic on employment and incomes further pressured the market. By 2023, a rise in the average wage and the setting of a €700 minimum wage supported household purchasing power. This income growth helped lift the market's value despite a continued drop in unit sales. In 2024, a reduction in the gender pay gap to 13.9% and the sustained minimum wage contributed to a minor rebound in market volume.

Production men's woven jackets and blazers in Latvia

In value, 2018-2021, K $ US

In 2020, the output of men's woven jackets and blazers in Latvia was valued at 4 150 K $ US, marking a 46.0% decline from the previous year. Over the period from 2018 to 2020, production decreased by 31.4%, with a compound annual growth rate (CAGR) of -11.8%. The highest value was recorded in 2019 at 7 688 K $ US, which also saw the largest increase of 27.0%.

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

In kind, 2018-2021, K unit

In 2020, Latvia produced 175.3 K units of men's woven jackets and blazers, representing a 38.4% decrease compared to the year before. From 2018 to 2020, production fell by 28.5%, with a compound annual growth rate (CAGR) of -10.6%. The peak was in 2019 with 284.4 K units, which also experienced the largest increase of 16.0%.

Annual dynamics of production in Latvia in kind, 2018-2021, K unit

Exports men's woven jackets and blazers from Latvia

Exports in kind, K unit

Following a two-year decline, Latvia's exports of men's woven jackets and blazers increased in 2021. The export volume reached 112.8 K units, up by 37.5% from the previous year. Over the period from 2018 to 2021, exports decreased by 42.1%, with a compound annual growth rate (CAGR) of -16.6%. The lowest value was recorded in 2020 at 82.1 K units, which also saw the largest decline of 53.6%.

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

From 2018 to 2021, Sweden, Denmark, and Finland were the key destinations for Latvia's exports of men's woven jackets and blazers in kind. Sweden accounted for 31.4% of exports, Denmark for 18.1%, and Finland for 7.1%, together making up 56.7% 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

In 2021, Latvia's cross-border shipments of men's woven jackets and blazers totaled 5 834 K $ US, a 67.6% increase compared to 2020. Over the period from 2018 to 2021, exports decreased by 4.1%, with a compound annual growth rate (CAGR) of -1.4%. The lowest value was in 2020 at 3 481 K $ US, while the highest was in 2019 at 6 178 K $ US. The largest decline occurred in 2020, dropping by 43.7%.

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

Between 2018 and 2021, Sweden, Poland, and Denmark remained the main buyers of men's woven jackets and blazers from Latvia in value terms. Sweden held 40.6% of exports, Poland 11.9%, and Denmark 6.9%, collectively forming 59.5% of total export value.

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

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

Imports men's woven jackets and blazers to Latvia

Imports in kind, K unit

After a two-year decline, Latvia's imports of men's woven jackets and blazers increased in 2021. Imports totaled 158.3 K units, showing a robust 13.2% rise from the previous year. From 2018 to 2021, imports decreased by 8.4%, equating to an annualized rate of -2.9%. The lowest value was recorded in 2020 at 139.9 K units, while the largest decline was in 2019 at 15.0%.

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

Over the period from 2018 to 2021, Latvia's imports of men's woven jackets and blazers in kind were sourced from a diverse range of partner countries. Lithuania accounted for 13.5% of imports, Czechia for 12.6%, and Ukraine for 11.1%, together representing just 37.2% of total import flows.

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

Following a two-year contraction, Latvia's imports of men's woven jackets and blazers increased in 2021. Imports reached 5 955 K $ US, up by 37.1% compared to 2020. From 2018 to 2021, imports decreased by 3.3%, with a compound annual growth rate (CAGR) of -1.1%. The lowest value was in 2020 at 4 343 K $ US, and the largest decline occurred in 2019 at 20.8%.

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

Between 2018 and 2021, Latvia's suppliers of men's woven jackets and blazers were broad-based. Estonia contributed 14.2% of imports in value terms, Lithuania 12.8%, and Ukraine 11.2%, together making up only 38.1% of total import value. Many other countries held smaller but significant shares.

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

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