Lithuania: Sewing Thread Market 2024

Sewing Thread Market Size in Lithuania

The Lithuanian sewing thread market reduced to $X in 2022, waning by -6.4% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Sewing thread consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Sewing Thread Production in Lithuania

In value terms, sewing thread production fell rapidly to $X in 2022 estimated in export price. Over the period under review, production showed a deep downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by 8.9% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sewing Thread Exports

Exports from Lithuania

In 2022, after three years of growth, there was significant decline in shipments abroad of sewing thread of man-made filaments or staple fibers, when their volume decreased by -25.1% to X tons. Overall, exports, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2019 with an increase of 46% against the previous year. The exports peaked at X tons in 2021, and then declined sharply in the following year.

In value terms, sewing thread exports shrank rapidly to $X in 2022. Over the period under review, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when exports increased by 34% against the previous year. The exports peaked at $X in 2021, and then shrank sharply in the following year.

Exports by Country

Russia (X tons) was the main destination for sewing thread exports from Lithuania, with a 54% share of total exports. Moreover, sewing thread exports to Russia exceeded the volume sent to the second major destination, Latvia (X tons), fourfold. Ukraine (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +24.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+6.9% per year) and Ukraine (-5.1% per year).

In value terms, Russia ($X), Belarus ($X) and Latvia ($X) appeared to be the largest markets for sewing thread exported from Lithuania worldwide, with a combined 70% share of total exports. Ukraine, Uzbekistan and Romania lagged somewhat behind, together comprising a further 18%.

In terms of the main countries of destination, Romania, with a CAGR of +169.2%, saw the highest rates of growth with regard to the value of exports, 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 sewing thread export price amounted to $X per ton, picking up by 10% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 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 Belarus ($X per ton), while the average price for exports to Russia ($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 Romania (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sewing Thread Imports

Imports into Lithuania

In 2022, overseas purchases of sewing thread of man-made filaments or staple fibers decreased by -9.6% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 28%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sewing thread imports declined remarkably to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 27%. As a result, imports attained the peak of $X, and then contracted notably in the following year.

Imports by Country

Germany (X tons), Poland (X tons) and the Czech Republic (X tons) were the main suppliers of sewing thread imports to Lithuania, with a combined 62% share of total imports. China, Italy, Spain, Latvia, Denmark and the Netherlands lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +56.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and Italy ($X) appeared to be the largest sewing thread suppliers to Lithuania, together comprising 70% of total imports. Latvia, Denmark, China, the Czech Republic, Spain and the Netherlands lagged somewhat behind, together comprising a further 22%.

In terms of the main suppliers, Spain, with a CAGR of +47.5%, saw the highest rates of growth with regard to 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

The average sewing thread import price stood at $X per ton in 2022, reducing by -6.2% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 23% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

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 Denmark ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform