Lithuania: Cotton Embroidery Market 2024

Cotton Embroidery Market Size in Lithuania

In 2022, the Lithuanian cotton embroidery market decreased by -1.7% to $X, falling for the second year in a row after four years of growth. Overall, consumption, however, continues to indicate a remarkable increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Cotton Embroidery Production in Lithuania

In value terms, cotton embroidery production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed significant growth. The growth pace was the most rapid in 2018 when the production volume increased by 306%. Cotton embroidery production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Cotton Embroidery Exports

Exports from Lithuania

In 2022, overseas shipments of cotton embroidery in the piece increased by 1,282% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports saw a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton embroidery exports soared to $X in 2022. Overall, exports posted a remarkable increase. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X kg), Kazakhstan (X kg) and Turkey (X kg) were the main destinations of cotton embroidery exports from Lithuania, with a combined 91% share of total exports. Belarus and Latvia lagged somewhat behind, together comprising a further 8.5%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belarus (with a CAGR of +16.9%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for cotton embroidery in the piece exports from Lithuania, comprising 56% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 27% share of total exports. It was followed by Turkey, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (0.0% per year) and Turkey (0.0% per year).

Export Prices by Country

In 2022, the average cotton embroidery export price amounted to $X per ton, with a decrease of -33.4% against the previous year. Over the period under review, the export price, however, continues to indicate resilient growth. The pace of growth was the most pronounced in 2015 when the average export price increased by 69%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Belarus ($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 Denmark (+84.6%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Embroidery Imports

Imports into Lithuania

After two years of growth, overseas purchases of cotton embroidery in the piece decreased by -6.1% to X tons in 2022. Over the period under review, imports showed a perceptible shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 120% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, cotton embroidery imports contracted to $X in 2022. In general, imports showed a deep contraction. The growth pace was the most rapid in 2021 with an increase of 113% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Greece (X kg), Spain (X kg) and Italy (X kg) were the main suppliers of cotton embroidery imports to Lithuania, with a combined 74% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +111.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Greece ($X) and Italy ($X) were the largest cotton embroidery suppliers to Lithuania, with a combined 56% share of total imports.

In terms of the main suppliers, Greece, with a CAGR of +136.4%, recorded 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 cotton embroidery import price amounted to $X per ton, reducing by -2.1% against the previous year. Overall, the import price recorded a deep reduction. The growth pace was the most rapid in 2017 an increase of 42% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 France ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform