Lithuania: Market for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver 2024

Market Size for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in Lithuania

In 2022, the Lithuanian market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -14.8% to $X, falling for the second year in a row after two years of growth. In general, consumption faced a deep reduction. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in Lithuania

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at less than $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern.

Exports of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver

Exports from Lithuania

After two years of growth, overseas shipments of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -50% to X kg in 2022. Overall, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 400%. As a result, the exports reached the peak of X kg. From 2017 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reduced rapidly to $X in 2022. In general, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 1,259% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Poland (X kg), Israel (X kg) and the UK (X kg) were the main destinations of exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from Lithuania.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) emerged as the key foreign market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports from Lithuania, comprising 87% of total exports. The second position in the ranking was held by the UK ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Poland totaled +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-63.2% per year) and Israel (0.0% per year).

Export Prices by Country

The average export price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X per kg in 2022, increasing by 2.4% against the previous year. Over the period under review, the export price, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2020 when the average export price increased by 353%. Over the period under review, the average export prices attained the maximum at $X per kg in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per kg), while the average price for exports to Israel ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+11.4%), while the prices for the other major destinations experienced a decline.

Imports of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver

Imports into Lithuania

In 2022, overseas purchases of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -26.3% to X kg, falling for the second consecutive year after three years of growth. Overall, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2016 with an increase of 409% against the previous year. As a result, imports attained the peak of X kg. From 2017 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver declined dramatically to $X in 2022. Over the period under review, imports recorded a precipitous descent. The most prominent rate of growth was recorded in 2020 when imports increased by 946%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X kg), Russia (X kg) and India (X kg) were the main suppliers of imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Lithuania, together comprising 29% of total imports. Moreover, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in Turkey exceeded the figures recorded by the second-largest supplier, Russia, twofold.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +14.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to Lithuania, comprising 74% of total imports. The second position in the ranking was held by the United States ($X), with a 5.1% share of total imports. It was followed by Japan, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey amounted to +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.4% per year) and Japan (+475.3% per year).

Import Prices by Country

In 2022, the average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, with a decrease of -48% against the previous year. In general, the import price showed a abrupt slump. The pace of growth appeared the most rapid in 2020 when the average import price increased by 233%. Over the period under review, average import prices reached the maximum at $X per kg in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per kg), while the price for Estonia ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+475.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform