Lithuania: Biological Product Market 2024

Biological Product Market Size in Lithuania

The Lithuanian biological product market fell sharply to $X in 2022, waning by X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Biological Product Production in Lithuania

In value terms, biological product production fell notably to $X in 2022 estimated in export price. Overall, production, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X, and then fell markedly in the following year.

Biological Product Exports

Exports from Lithuania

In 2022, overseas shipments of biological products decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, exports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, biological product exports shrank rapidly to $X in 2022. Overall, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for biological product exports from Lithuania, with a X% share of total exports. Moreover, biological product exports to Russia exceeded the volume sent to the second major destination, Latvia (X tons), twofold. The third position in this ranking was taken by Belarus (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Belarus (X% per year).

In value terms, the largest markets for biological product exported from Lithuania were Russia ($X), Estonia ($X) and Belarus ($X), together comprising X% of total exports. Latvia, Ukraine, Poland and Costa Rica lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Costa Rica, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average biological product export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, biological product export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Costa Rica ($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 Belarus (X%), while the prices for the other major destinations experienced more modest paces of growth.

Biological Product Imports

Imports into Lithuania

In 2022, imports of biological products into Lithuania contracted sharply to X tons, falling by X% against the previous year's figure. Overall, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, biological product imports fell sharply to $X in 2022. Over the period under review, imports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then shrank remarkably in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of biological product to Lithuania, accounting for a X% share of total imports. Moreover, biological product imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Italy (X% per year).

In value terms, the largest biological product suppliers to Lithuania were Germany ($X), Belgium ($X) and Austria ($X), with a combined X% share of total imports. Italy, France, Switzerland, Poland, Slovenia, the UK, the Czech Republic, the Netherlands, Denmark and India lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, India, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average biological product import price amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price, however, continues to indicate a temperate increase. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. The import price peaked at $X per ton in 2021, and then dropped significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X,308 per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform