Lithuania: Bumper Market 2024

Bumper Market Size in Lithuania

The Lithuanian bumper market contracted markedly to $X in 2022, reducing by -46.5% against the previous year. In general, consumption, however, continues to indicate a tangible increase. Bumper consumption peaked at $X in 2021, and then dropped significantly in the following year.

Bumper Production in Lithuania

In value terms, bumper production skyrocketed to $X in 2022 estimated in export price. In general, production, however, faced a abrupt contraction. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Bumper Exports

Exports from Lithuania

For the third year in a row, Lithuania recorded decline in shipments abroad of bumpers, which decreased by -7.4% to X tons in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 40% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, bumper exports dropped slightly to $X in 2022. Over the period under review, exports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 44%. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

Kazakhstan (X tons), Kyrgyzstan (X tons) and Belarus (X tons) were the main destinations of bumper exports from Lithuania, together accounting for 49% of total exports. Poland, Armenia, Estonia, Tajikistan, the UK, Germany, Russia, Latvia and France lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Armenia (with a CAGR of +2,095.7%), while the other leaders experienced more modest paces of growth.

In value terms, Armenia ($X), Poland ($X) and the UK ($X) appeared to be the largest markets for bumper exported from Lithuania worldwide, with a combined 49% share of total exports.

Armenia, with a CAGR of +2,482.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average bumper export price amounted to $X per ton, with an increase of 4.5% against the previous year. In general, the export price posted strong growth. The pace of growth was the most pronounced in 2021 when the average export price increased by 45% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Tajikistan ($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 the UK (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.

Bumper Imports

Imports into Lithuania

In 2022, the amount of bumpers imported into Lithuania declined dramatically to X tons, with a decrease of -37.9% on the year before. Overall, imports, however, saw slight growth. The pace of growth was the most pronounced in 2014 with an increase of 56% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, bumper imports contracted markedly to $X in 2022. In general, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2017 with an increase of 47%. Imports peaked at $X in 2021, and then fell notably in the following year.

Imports by Country

Germany (X tons), Poland (X tons) and China (X tons) were the main suppliers of bumper imports to Lithuania, with a combined 76% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +24.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of bumpers to Lithuania, comprising 36% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by Poland, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+24.8% per year) and Poland (+17.2% per year).

Import Prices by Country

In 2022, the average bumper import price amounted to $X per ton, rising by 32% against the previous year. Overall, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.9% 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 2015 when the average import price increased by 75%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform