Lithuania: Crude Granite Market 2024

Crude Granite Market Size in Lithuania

The Lithuanian crude granite market totaled $X in 2022, growing by 14% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a mild increase. Crude granite consumption peaked in 2022 and is likely to see gradual growth in the near future.

Crude Granite Exports

Exports from Lithuania

In 2022, crude granite exports from Lithuania skyrocketed to X tons, increasing by 17% against the previous year's figure. Over the period under review, exports, however, saw a pronounced downturn. The most prominent rate of growth was recorded in 2020 with an increase of 186% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, crude granite exports soared to $X in 2022. In general, exports saw a slight increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Belarus (X tons) was the main destination for crude granite exports from Lithuania, accounting for a 93% share of total exports. Moreover, crude granite exports to Belarus exceeded the volume sent to the second major destination, Uzbekistan (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Belarus totaled -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (0.0% per year) and Armenia (0.0% per year).

In value terms, Belarus ($X) remains the key foreign market for granite (crude) exports from Lithuania, comprising 92% of total exports. The second position in the ranking was taken by Armenia ($X), with a 4.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Belarus amounted to +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (0.0% per year) and Uzbekistan (0.0% per year).

Export Prices by Country

The average crude granite export price stood at $X per ton in 2022, rising by 100% against the previous year. Over the period under review, the export price continues to indicate a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Armenia ($X per ton), while the average price for exports to Uzbekistan ($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 Russia (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Granite Imports

Imports into Lithuania

In 2022, approx. X tons of granite (crude) were imported into Lithuania; growing by 6% compared with the year before. Overall, imports, however, recorded a pronounced descent. The growth pace was the most rapid in 2020 when imports increased by 33%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, crude granite imports soared to $X in 2022. In general, total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.0% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 36%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Sweden (X tons) constituted the largest crude granite supplier to Lithuania, accounting for a 36% share of total imports. Moreover, crude granite imports from Sweden exceeded the figures recorded by the second-largest supplier, Finland (X tons), twofold. The third position in this ranking was taken by Poland (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sweden amounted to -5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (-6.4% per year) and Poland (+4.0% per year).

In value terms, Sweden ($X) constituted the largest supplier of granite (crude) to Lithuania, comprising 34% of total imports. The second position in the ranking was taken by India ($X), with a 17% share of total imports. It was followed by Finland, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Sweden stood at -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+21.3% per year) and Finland (-2.5% per year).

Import Prices by Country

The average crude granite import price stood at $X per ton in 2022, growing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +3.9%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 43% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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 Norway ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform