Lithuania: Shipping Market 2020

Shipping Market Size in Lithuania

The revenue of the shipping market in Lithuania amounted to $X in 2018, growing by X% against the previous year. Over the period under review, shipping consumption continues to indicate a buoyant increase. The growth pace was the most rapid in 2010 with an increase of X% year-to-year. Lithuania shipping consumption peaked at $X in 2013; however, from 2014 to 2018, consumption remained at a lower figure.

Shipping Production in Lithuania

In value terms, shipping production totaled $X in 2018 estimated in export prices. Over the period under review, shipping production continues to indicate outstanding growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Lithuania shipping production peaked in 2018 and is likely to see steady growth in the immediate term.

Shipping Exports

Exports from Lithuania

In 2018, approx. X kg of ships, vessels, ferry-boats for the transport of persons were exported from Lithuania; going down by -X% against the previous year. Over the period under review, shipping exports continue to indicate a dramatic setback. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, shipping exports attained their maximum at X tons in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

In value terms, shipping exports amounted to $X in 2018. Over the period under review, shipping exports continue to indicate an abrupt downturn. The pace of growth was the most pronounced in 2012 with a decrease of -X% y-o-y. Lithuania exports peaked at $X in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

Exports by Country

In 2018, Italy (X tons), distantly followed by France (X tons), Germany (X tons), Finland (X tons) and Australia (X tons) were the main exporters of ships, vessels, ferry-boats for the transport of persons, together constituting X% of total exports. Poland (X tons), Norway (X tons), the Philippines (X tons), Bahamas (X tons), Japan (X tons) and Turkey (X tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Australia, while the other leaders experienced more modest paces of growth.

In value terms, the largest shipping markets from Lithuania were Italy ($X), France ($X) and Germany ($X), with a combined X% share of total exports.

France recorded the highest rates of growth with regard to exports, among the main exporting countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the shipping export price in Lithuania amounted to $X per ton, reducing by -X% against the previous year. Overall, the shipping export price, however, continues to indicate moderate growth. The pace of growth was the most pronounced in 2015 when the export price increased by X% y-o-y. In that year, the export prices for ships, vessels, ferry-boats for the transport of persons attained their peak level of $X per ton. From 2016 to 2018, the growth in terms of the export prices for ships, vessels, ferry-boats for the transport of persons remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Norway, while the other leaders experienced more modest paces of growth.

Shipping Imports

Imports into Lithuania

In 2018, the shipping imports into Lithuania amounted to X tons, coming down by -X% against the previous year. Overall, shipping imports continue to indicate a sharp contraction. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Over the period under review, shipping imports attained their maximum at X tons in 2013; however, from 2014 to 2018, imports remained at a lower figure.

In value terms, shipping imports stood at $X in 2018. Over the period under review, shipping imports continue to indicate an abrupt slump. The most prominent rate of growth was recorded in 2010 when imports increased by X% y-o-y. In that year, shipping imports reached their peak of $X. From 2011 to 2018, the growth of shipping imports remained at a lower figure.

Imports by Country

In 2018, the U.S. (X tons) represented the main importer of ships, vessels, ferry-boats for the transport of persons, creating X% of total imports. It was distantly followed by Italy (X tons), Germany (X tons) and Norway (X tons), together creating a X% share of total imports. Liberia (X tons), France (X tons), Bahamas (X tons), Switzerland (X tons) and Sweden (X tons) took a minor share of total imports.

Imports into the U.S. increased at an average annual rate of +X% from 2007 to 2018. At the same time, Sweden (+X%), Liberia (+X%), Switzerland (+X%), Germany (+X%) and France (+X%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. Italy experienced a relatively flat trend pattern. By contrast, Norway (-X%) and Bahamas (-X%) illustrated a downward trend over the same period. The U.S. (+X p.p.), Germany (+X p.p.), Liberia (+X p.p.), France (+X p.p.), Sweden (+X p.p.) and Switzerland (+X p.p.) significantly strengthened its position in terms of the global imports, while Norway and Bahamas saw its share reduced by -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported ships, vessels, ferry-boats for the transport of persons into Lithuania, comprising X% of global imports. The second position in the ranking was occupied by Italy ($X), with a X% share of global imports. It was followed by Germany, with a X% share.

In the U.S., shipping imports increased at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Italy (+X% per year) and Germany (+X% per year).

Import Prices by Country

In 2018, the shipping import price in Lithuania amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the shipping import price continues to indicate an outstanding increase. The most prominent rate of growth was recorded in 2015 when the import price increased by X% y-o-y. Lithuania import price peaked in 2018 and is likely to continue its growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was Switzerland ($X per ton), while Liberia ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform