Lithuania: Market for Nets of Twine, Cordage, Rope or Textile Materials 2024

Market Size for Nets of Twine, Cordage, Rope or Textile Materials in Lithuania

In 2022, the Lithuanian market for nets of twine, cordage, rope or textile materials increased by 29% to $X, rising for the second year in a row after three years of decline. In general, consumption recorded strong growth. Twine, cordage or textile net consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Nets of Twine, Cordage, Rope or Textile Materials in Lithuania

In value terms, twine, cordage or textile net production declined modestly to $X in 2022 estimated in export price. Over the period under review, production recorded buoyant growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by 34% against the previous year. Over the period under review, production hit record highs at $X in 2021, and then dropped in the following year.

Exports of Nets of Twine, Cordage, Rope or Textile Materials

Exports from Lithuania

In 2022, overseas shipments of nets of twine, cordage, rope or textile materials decreased by -7.8% to X tons, falling for the second year in a row after seven years of growth. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -8.3% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 23% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, twine, cordage or textile net exports rose slightly to $X in 2022. In general, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 17%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Norway (X tons) was the main destination for twine, cordage or textile net exports from Lithuania, with a 54% share of total exports. Moreover, twine, cordage or textile net exports to Norway exceeded the volume sent to the second major destination, Faroe Islands (X tons), fivefold. Iceland (X tons) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Norway amounted to +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Faroe Islands (+65.0% per year) and Iceland (+8.4% per year).

In value terms, Norway ($X) remains the key foreign market for nets of twine, cordage, rope or textile materials exports from Lithuania, comprising 51% of total exports. The second position in the ranking was held by Faroe Islands ($X), with a 13% share of total exports. It was followed by Spain, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Norway amounted to +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Faroe Islands (+70.2% per year) and Spain (+17.4% per year).

Export Prices by Country

In 2022, the average export price for nets of twine, cordage, rope or textile materials amounted to $X per ton, rising by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.7%. The most prominent rate of growth was recorded in 2013 an increase of 31% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Iceland ($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 Latvia (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nets of Twine, Cordage, Rope or Textile Materials

Imports into Lithuania

In 2022, purchases abroad of nets of twine, cordage, rope or textile materials increased by 5.1% to X tons, rising for the second consecutive year after three years of decline. In general, imports recorded strong growth. The pace of growth was the most pronounced in 2021 with an increase of 180%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, twine, cordage or textile net imports expanded notably to $X in 2022. Over the period under review, imports saw resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 96% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Norway (X tons) constituted the largest twine, cordage or textile net supplier to Lithuania, with a 72% share of total imports. Moreover, twine, cordage or textile net imports from Norway exceeded the figures recorded by the second-largest supplier, Portugal (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume from Norway totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+20.8% per year) and Spain (+22.9% per year).

In value terms, Norway ($X), Portugal ($X) and Spain ($X) appeared to be the largest twine, cordage or textile net suppliers to Lithuania, with a combined 71% share of total imports. China, Greece, Denmark and Iceland lagged somewhat behind, together accounting for a further 15%.

Among the main suppliers, Iceland, with a CAGR of +75.1%, 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 import price for nets of twine, cordage, rope or textile materials amounted to $X per ton, growing by 5.2% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 39% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained 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 Portugal ($X per ton), while the price for Iceland ($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 (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform