Lithuania: Gouges And Chisels Market 2024

Gouges And Chisels Market Size in Lithuania

The Lithuanian gouges and chisels market soared to $X in 2022, increasing by 35% 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). In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +63.0% against 2019 indices. Gouges and chisels consumption peaked in 2022 and is likely to see gradual growth in the near future.

Gouges And Chisels Exports

Exports from Lithuania

Gouges and chisels exports from Lithuania fell sharply to X tons in 2022, dropping by -32% against 2021 figures. In general, exports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2021 when exports increased by 75%. As a result, the exports reached the peak of X tons, and then contracted markedly in the following year.

In value terms, gouges and chisels exports rose remarkably to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 153%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Latvia (X tons), Russia (X tons) and Belarus (X kg) were the main destinations of gouges and chisels exports from Lithuania, together accounting for 59% of total exports. Estonia, Germany, Sweden, the Netherlands and Spain lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +144.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for planes, chisels and gouges for working wood exports from Lithuania, comprising 47% of total exports. The second position in the ranking was held by Latvia ($X), with an 11% share of total exports. It was followed by Belarus, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value to Russia stood at +26.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+15.4% per year) and Belarus (+12.2% per year).

Export Prices by Country

The average gouges and chisels export price stood at $X per ton in 2022, rising by 61% against the previous year. Over the period under review, the export price posted a strong expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 136% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Sweden ($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 Spain (+32.6%), while the prices for the other major destinations experienced more modest paces of growth.

Gouges And Chisels Imports

Imports into Lithuania

In 2022, supplies from abroad of planes, chisels and gouges for working wood increased by 33% to X tons, rising for the second year in a row after two years of decline. Overall, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% 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 +45.3% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of 35% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, gouges and chisels imports expanded sharply to $X in 2022. Over the period under review, imports showed a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 59%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Poland (X tons), China (X tons) and Latvia (X tons) were the main suppliers of gouges and chisels imports to Lithuania, with a combined 83% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Latvia (with a CAGR of +37.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), China ($X) and the Czech Republic ($X) were the largest gouges and chisels suppliers to Lithuania, with a combined 59% share of total imports. Germany, Estonia and Latvia lagged somewhat behind, together comprising a further 34%.

Latvia, with a CAGR of +39.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gouges and chisels import price stood at $X per ton in 2022, reducing by -18.3% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gouges and chisels import price increased by +21.4% against 2019 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 57% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform