The fishing rods market in Latvia experienced a significant decline over the past decade, with its value dropping from $2.1227 million in 2013 to $1.7217 million in 2023. The year-on-year variations indicate fluctuations, with notable declines in 2018 by 12.27% and a consistent negative trend observed over the last two years, each at 2.1%. The compound annual growth rate shows a gradual contraction, highlighting a 1.31% decrease annually over the last five years.
Future trends to watch:
- Potential market stabilization as the rate of decline is slowing down.
- Impact of technological innovations in fishing equipment on market demand.
- Evolving consumer preferences and increased interest in outdoor activities potentially driving market changes.
- Environmental policies and their influence on fishing activities in the region.
How does Latvia rank in Fishing Rods Market Size Value?
| # | 22 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 1,561,600,000 | 2023 | +2.26% | +2% | View data |
| 2 | 2 France | 116,220,000 | 2023 | -1.98% | -0.37% | View data |
| 3 | 3 Australia | 113,220,000 | 2023 | +1.6% | -0.32% | View data |
| 4 | 4 United Kingdom | 72,851,000 | 2023 | -3.29% | -1.62% | View data |
| 5 | 5 Germany | 65,358,000 | 2023 | -6.24% | -6.25% | View data |
| 19 | 19 Switzerland | 4,640,100 | 2023 | -0.46% | -0.43% | View data |
| 20 | 20 Portugal | 3,220,400 | 2023 | -12.21% | -8.77% | View data |
| 21 | 21 Latvia | 1,721,700 | 2023 | -2.1% | -1.31% | |
| 22 | 22 Iceland | 1,659,300 | 2023 | +1.38% | +2.72% | View data |
