Key Market Indicators
Latvian wax import is projected to reach 6.7 million kilograms by 2026, growing at an average annual rate of 0.1%. This is a modest increase from the 6.6 million kilograms recorded in 2021, when the country ranked 25th in the world. China was the biggest importer with 6.6 million kilograms, followed by Mexico, Germany, and Poland. Latvian wax export saw a substantial increase of 24% in 2018, when it reached 1,600 kilograms, compared to 1,290 kilograms in 2017. This is still down from the 1999 peak of 3,546 kilograms, a decrease of 55.5%. In 2018, Belarus overtook Latvia as the largest exporter with 1,600 kilograms, followed by Malaysia, Germany, and South Africa.
