Lithuania: Tractor Market 2020

Tractor Market Size in Lithuania

The revenue of the tractor market in Lithuania amounted to $X in 2018, reducing by -X% against the previous year. Over the period under review, tractor consumption continues to indicate a deep shrinkage. The growth pace was the most rapid in 2011 when the market value increased by X% year-to-year. In that year, the tractor market reached its peak level of $X. From 2012 to 2018, the growth of the tractor market failed to regain its momentum.

Tractor Production in Lithuania

In value terms, tractor production amounted to $X in 2018 estimated in export prices. Over the period under review, tractor production continues to indicate a sharp downturn. The pace of growth was the most pronounced in 2016 when production volume increased by X% against the previous year. Lithuania tractor production peaked at $X in 2007; however, from 2008 to 2018, production stood at a somewhat lower figure.

Tractor Exports

Exports from Lithuania

Tractor exports from Lithuania stood at X units in 2018, falling by -X% against the previous year. Overall, tractor exports, however, continue to indicate a remarkable expansion. The pace of growth was the most pronounced in 2011 with an increase of X% year-to-year. Over the period under review, tractor exports reached their peak figure at X units in 2017, and then declined slightly in the following year.

In value terms, tractor exports totaled $X in 2018. Overall, tractor exports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2011 with an increase of X% year-to-year. Lithuania exports peaked in 2018 and are expected to retain its growth in the immediate term.

Exports by Country

The countries with the highest levels of tractor exports in 2018 were the UK (X units), Japan (X units), Germany (X units), the U.S. (X units), Belarus (X units), India (X units), Italy (X units), South Korea (X units), China (X units), France (X units), Thailand (X units) and Turkey (X units), together amounting to X% of total export.

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

In value terms, the largest tractor markets from Lithuania were Germany ($X), the U.S. ($X) and Japan ($X), together accounting for X% of total exports. These countries were followed by Italy, the UK, France, India, South Korea, China, Belarus, Turkey, Thailand and Lithuania, which together accounted for a further X the main exporting countries, Thailand recorded the highest rates of growth with regard to exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The tractor export price in Lithuania stood at $X per unit in 2018, increasing by X% against the previous year. Overall, the tractor export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 when the export price increased by X% y-o-y. In that year, the export prices for tractors attained their peak level of $X per unit. From 2012 to 2018, the growth in terms of the export prices for tractors remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was France ($X per unit), while the UK ($X per unit) was amongst the lowest.

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

Tractor Imports

Imports into Lithuania

Tractor imports into Lithuania stood at X units in 2018, dropping by -X% against the previous year. Overall, tractor imports continue to indicate a moderate downturn. The pace of growth appeared the most rapid in 2011 with an increase of X% against the previous year. Lithuania imports peaked at X units in 2017, and then declined slightly in the following year.

In value terms, tractor imports amounted to $X in 2018. Overall, the total imports indicated a temperate increase from 2007 to 2018: its value decreased at an average annual rate of -X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, tractor imports increased by +X% against 2014 indices. The pace of growth was the most pronounced in 2011 when imports increased by X% against the previous year. Lithuania imports peaked at $X in 2008; however, from 2009 to 2018, imports remained at a lower figure.

Imports by Country

Free Zones (X units) and the U.S. (X units) represented the largest importers of tractors in 2018, resulting at approx. X% and X% of total imports, respectively. Germany (X units) ranks next in terms of the total imports with a X% share, followed by France (X%). The following importers - Ukraine (X units), Canada (X units), the UK (X units), the Netherlands (X units), Russia (X units), Italy (X units), Poland (X units) and Vietnam (X units) - together made up X% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Free Zones (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X) constitutes the largest market for imported tractors into Lithuania, comprising X% of global imports. The second position in the ranking was occupied by France ($X), with a X% share of global imports. It was followed by Canada, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in the U.S. amounted to +X%. In the other countries, the average annual rates were as follows: France (+X% per year) and Canada (+X% per year).

Import Prices by Country

The tractor import price in Lithuania stood at $X per unit in 2018, surging by X% against the previous year. Overall, the import price indicated a buoyant increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, tractor import price increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2018 an increase of X% y-o-y. In that year, the import prices for tractors attained their peak level 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 Canada ($X per unit), while Free Zones ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform