Props for scaffolding, shuttering or pit-propping market in Latvia

Earlier Report Observations

The Latvian market for iron or steel props underwent significant volatility between 2018 and 2021. The market volume started at 14 374 t in 2018, then contracted sharply to 7 317 t in 2019 and further to 4 913 t in 2020. A partial recovery followed in 2021, bringing the market size to 8 268 t.

These shifts were the net result of changing domestic production and trade flows. Production fell from 18 632 t in 2018 to 12 201 t in 2019 before recovering to 15 428 t in 2021. Meanwhile, exports rose from 10 506 t to a peak of 14 077 t in 2020, while imports remained relatively stable around 6 500 t, collectively determining the market's final volume each year.

Production props for scaffolding, shuttering or pit-propping in Latvia

In value, 2018-2021, K $ US

After a two-year decline, production of props for scaffolding, shuttering, or pit-propping in Latvia has rebounded. In 2021, output reached 30 980 thousand US dollars, marking a significant year-over-year increase of 50.8%. Over the 2018-2021 period, production decreased by 5%, with a compound annual growth rate of 1.7%. The lowest value was recorded in 2020 at 20 538 thousand US dollars, while the largest decline occurred in 2019, at 24.6%.

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

In kind, 2018-2021, t

Production of props for scaffolding, shuttering, or pit-propping in Latvia has increased for the second year in a row. In 2021, Latvia produced 15 428 tonnes, showing a robust 24.7% growth compared to the previous year. From 2018 to 2021, overall production decreased by 17.2%, with a compound annual growth rate of 6.1%. The minimum value was in 2019 at 12 201 tonnes, which also saw the largest decline of 34.5%.

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

Exports props for scaffolding, shuttering or pit-propping from Latvia

Exports in kind, t

Following a two-year improvement, exports of props for scaffolding, shuttering, or pit-propping from Latvia declined. In 2021, exports stood at 13 643 tonnes, representing a modest year-over-year contraction of 3.1%. Over the 2018-2021 period, exports increased by 29.9%, with a compound annual growth rate of 9.1%. The peak was in 2020 at 14 077 tonnes, which also recorded the largest increase of 20.9%.

Annual dynamics of product's exports from Latvia in kind, 2018-2021, t

From 2018 to 2021, Denmark, Lithuania, and Estonia were the main destinations for Latvia's exports of props for scaffolding, shuttering, or pit-propping in kind. Denmark accounted for 37.2% of exports, Lithuania for 15.5%, and Estonia for 13.1%, together making up 65.8% of total exports.

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, exports of props for scaffolding, shuttering, or pit-propping from Latvia totaled 27 281 thousand US dollars, showing a strong year-over-year uptick of 13.3%. Between 2018 and 2021, exports increased by 43.3%, with a compound annual growth rate of 12.7%. The largest decline was in 2020 at 5.6%, while the largest increase occurred in 2019, at 34.0%.

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

From 2018 to 2021, Denmark, Lithuania, and Estonia were the primary buyers of Latvia's props for scaffolding, shuttering, or pit-propping in value terms. Denmark represented 23.5% of exports, Lithuania 14.6%, and Estonia 14.1%, collectively comprising 52.2% of total exports.

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

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

Imports props for scaffolding, shuttering or pit-propping to Latvia

Imports in kind, t

Latvia's imports of props for scaffolding, shuttering, or pit-propping in kind have declined for the second consecutive year. In 2021, imports reached 6 483 tonnes, indicating a slight year-over-year decrease of 2.0%. Over the 2018-2021 period, imports increased by 3.7%, with a compound annual growth rate of 1.2%. The highest value was in 2019 at 6 763 tonnes, which also saw the largest increase of 8.2%, while the largest decline was in 2020 at 2.2%.

Annual dynamics of product's imports to Latvia in kind, 2018-2021, t

Throughout 2018 to 2021, Lithuania, Estonia, and Germany were the key partners for Latvia's imports of props for scaffolding, shuttering, or pit-propping in kind. Lithuania accounted for 38.1% of imports, Estonia for 28.1%, and Germany for 6.5%, together representing 72.6% 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

In 2021, imports of props for scaffolding, shuttering, or pit-propping into Latvia totaled 16 246 thousand US dollars, marking a 22.5% year-over-year increase. Between 2018 and 2021, imports grew by 13.9%, equating to an annualized rate of 4.4%. The lowest value was in 2020 at 13 266 thousand US dollars, which also recorded the largest decline of 8.5%.

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

From 2018 to 2021, Lithuania, Estonia, and Austria were the central markets for Latvia's imports of props for scaffolding, shuttering, or pit-propping in value terms, together accounting for 68.5% of total import flows.

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

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