Lithuania: Articles Of Peat Market 2024

Articles Of Peat Market Size in Lithuania

The Lithuanian articles of peat market shrank slightly to $X in 2022, which is down by -3.1% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Articles of peat consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Articles Of Peat Production in Lithuania

In value terms, articles of peat production declined to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 58% against the previous year. Articles of peat production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Articles Of Peat Exports

Exports from Lithuania

In 2022, the amount of articles of peat exported from Lithuania rose notably to X tons, increasing by 6.8% compared with 2021 figures. Overall, exports saw strong growth. The growth pace was the most rapid in 2020 when exports increased by 996%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, articles of peat exports skyrocketed to $X in 2022. In general, exports posted a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,083% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Russia (X tons) was the main destination for articles of peat exports from Lithuania, accounting for a 92% share of total exports. It was followed by Latvia (X tons), with a 2.7% share of total exports. Kazakhstan (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+28.1% per year) and Kazakhstan (-11.1% per year).

In value terms, Russia ($X) remains the key foreign market for articles of peat exports from Lithuania, comprising 88% of total exports. The second position in the ranking was held by Latvia ($X), with a 4.5% share of total exports. It was followed by Estonia, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to Russia totaled +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+39.4% per year) and Estonia (+19.8% per year).

Export Prices by Country

The average articles of peat export price stood at $X per ton in 2022, growing by 26% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 an increase of 110% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

Articles Of Peat Imports

Imports into Lithuania

For the third consecutive year, Lithuania recorded growth in supplies from abroad of articles of peat, which increased by 211% to X tons in 2022. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 314% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, articles of peat imports soared to $X in 2022. Overall, imports recorded strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 199% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Latvia (X tons) constituted the largest articles of peat supplier to Lithuania, accounting for a 70% share of total imports. Moreover, articles of peat imports from Latvia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was held by Poland (X tons), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from Latvia amounted to +80.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+18.5% per year) and Poland (+27.8% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of articles of peat to Lithuania, comprising 72% of total imports. The second position in the ranking was held by Latvia ($X), with a 16% share of total imports. It was followed by Poland, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands stood at +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+43.6% per year) and Poland (+16.1% per year).

Import Prices by Country

In 2022, the average articles of peat import price amounted to $X per ton, falling by -49.9% against the previous year. Over the period under review, the import price saw a abrupt slump. The pace of growth appeared the most rapid in 2020 when the average import price increased by 80% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform