Lithuania: Relay Market 2025

Relay Market Size in Lithuania

The Lithuanian relay market expanded significantly to $X in 2022, surging by 8.6% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Relay Production in Lithuania

In value terms, relay production surged to $X in 2022 estimated in export price. Over the period under review, production recorded strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 48%. Over the period under review, production attained the maximum level in 2022 and is expected to retain growth in the near future.

Relay Exports

Exports from Lithuania

In 2022, shipments abroad of relays increased by 10% to X units, rising for the second year in a row after two years of decline. In general, exports recorded a strong increase. The growth pace was the most rapid in 2014 when exports increased by 31%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, relay exports amounted to $X in 2022. Overall, exports saw a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by 46% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

The UK (X units) was the main destination for relay exports from Lithuania, with a 39% share of total exports. Moreover, relay exports to the UK exceeded the volume sent to the second major destination, Germany (X units), twofold. The third position in this ranking was taken by Italy (X units), with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume to the UK totaled +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+27.1% per year) and Italy (+59.5% per year).

In value terms, the largest markets for relay exported from Lithuania were the UK ($X), Germany ($X) and Italy ($X), together accounting for 59% of total exports. France, Slovakia, Sweden, Kyrgyzstan, Russia and Belarus lagged somewhat behind, together comprising a further 21%.

Kyrgyzstan, with a CAGR of +89.9%, saw 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 more modest paces of growth.

Export Prices by Country

In 2022, the average relay export price amounted to $X per unit, dropping by -5.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 19% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 ($X per unit), while the average price for exports to Kyrgyzstan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Relay Imports

Imports into Lithuania

In 2022, supplies from abroad of relays was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 19%. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, relay imports soared to $X in 2022. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.6% against 2018 indices. The pace of growth appeared the most rapid in 2017 with an increase of 41% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Latvia (X units) constituted the largest supplier of relay to Lithuania, accounting for a 33% share of total imports. Moreover, relay imports from Latvia exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was held by Sweden (X units), with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Latvia amounted to +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.6% per year) and Sweden (+34.9% per year).

In value terms, Latvia ($X) constituted the largest supplier of relays to Lithuania, comprising 30% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by Finland, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value from Latvia amounted to +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.5% per year) and Finland (+3.9% per year).

Import Prices by Country

The average relay import price stood at $X per unit in 2022, increasing by 16% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, relay import price increased by +66.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 32% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

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 Finland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform