Lithuania: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Lithuania

The Lithuanian natural stone sett market contracted to $X in 2022, which is down by -12.2% against the previous year. In general, consumption, however, enjoyed a moderate increase. Over the period under review, the market hit record highs at $X in 2021, and then contracted in the following year.

Natural Stone Sett Production in Lithuania

In value terms, natural stone sett production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 576% against the previous year. Natural stone sett production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Natural Stone Sett Exports

Exports from Lithuania

Natural stone sett exports from Lithuania shrank markedly to X tons in 2022, waning by -59.5% compared with the year before. Overall, exports, however, saw noticeable growth. The pace of growth was the most pronounced in 2013 when exports increased by 224%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, natural stone sett exports shrank markedly to $X in 2022. Over the period under review, exports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 266%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Latvia (X tons) was the main destination for natural stone sett exports from Lithuania, accounting for a 60% share of total exports. Moreover, natural stone sett exports to Latvia exceeded the volume sent to the second major destination, Kazakhstan (X tons), threefold. Russia (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Latvia totaled +36.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (-9.8% per year) and Russia (-14.1% per year).

In value terms, Kazakhstan ($X), Russia ($X) and Latvia ($X) constituted the largest markets for natural stone sett exported from Lithuania worldwide, with a combined 90% share of total exports.

Latvia, with a CAGR of +16.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average natural stone sett export price stood at $X per ton in 2022, jumping by 44% against the previous year. Overall, the export price recorded a prominent expansion. The pace of growth was the most pronounced in 2015 when the average export price increased by 95% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Latvia ($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 Norway (+25.8%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Stone Sett Imports

Imports into Lithuania

In 2022, supplies from abroad of natural stone setts, kerbstones and flagstones decreased by -32.4% to X tons, falling for the third year in a row after two years of growth. In general, imports, however, continue to indicate a perceptible increase. The pace of growth appeared the most rapid in 2016 when imports increased by 147%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, natural stone sett imports contracted to $X in 2022. Over the period under review, imports, however, recorded a noticeable expansion. The growth pace was the most rapid in 2016 when imports increased by 227%. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest natural stone sett supplier to Lithuania, accounting for a 68% share of total imports. Moreover, natural stone sett imports from Ukraine exceeded the figures recorded by the second-largest supplier, Latvia (X tons), twofold. The third position in this ranking was held by China (X tons), with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ukraine stood at +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+42.8% per year) and China (-29.6% per year).

In value terms, Ukraine ($X) constituted the largest supplier of natural stone setts, kerbstones and flagstones to Lithuania, comprising 83% of total imports. The second position in the ranking was held by Latvia ($X), with an 8.7% share of total imports. It was followed by China, with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ukraine totaled +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+41.2% per year) and China (-31.0% per year).

Import Prices by Country

In 2022, the average natural stone sett import price amounted to $X per ton, rising by 42% against the previous year. Overall, the import price, however, recorded a slight descent. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Ukraine ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform