Lithuania: Truck Market 2020

Truck Market Size in Lithuania

The revenue of the truck market in Lithuania amounted to $X in 2018, growing by X% against the previous year. In general, truck consumption, however, continues to indicate an abrupt setback. The pace of growth appeared the most rapid in 2018 when the market value increased by X% y-o-y. Lithuania truck consumption peaked at $X in 2007; however, from 2008 to 2018, consumption failed to regain its momentum.

Truck Production in Lithuania

In value terms, truck production amounted to $X in 2018 estimated in export prices. Overall, truck production, however, continues to indicate a dramatic reduction. The growth pace was the most rapid in 2010 with a decrease of -X% y-o-y. Over the period under review, truck production reached its peak figure level at $X in 2007; however, from 2008 to 2018, production failed to regain its momentum.

Truck Exports

Exports from Lithuania

In 2018, the amount of trucks exported from Lithuania amounted to X units, dropping by -X% against the previous year. Over the period under review, truck exports continue to indicate a deep descent. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, truck exports reached their maximum at X units in 2013; however, from 2014 to 2018, exports stood at a somewhat lower figure.

In value terms, truck exports totaled $X in 2018. In general, truck exports continue to indicate a drastic 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, truck exports attained their maximum at $X in 2013; however, from 2014 to 2018, exports remained at a lower figure.

Exports by Country

Thailand was the main exporting country with an export of about X units, which reached X% of total exports. Mexico (X units) ranks second in terms of the total exports with a X% share, followed by the U.S. (X%). Japan (X units), France (X units), Germany (X units), Turkey (X units), Italy (X units), Spain (X units), South Africa (X units), Belgium (X units) and Argentina (X units) took a little share of total exports.

Thailand was also the fastest-growing in terms of the trucks exports, with a CAGR of +X% from 2007 to 2018. At the same time, Argentina (+X%), France (+X%), Turkey (+X%), Belgium (+X%) and South Africa (+X%) displayed positive paces of growth. By contrast, Japan (-X%), Spain (-X%), Mexico (-X%), Italy (-X%), Germany (-X%) and the U.S. (-X%) illustrated a downward trend over the same period. Thailand (+X p.p.) significantly strengthened its position in terms of the global exports, while Germany, the U.S. and Mexico saw its share reduced by -X%, -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 largest truck markets from Lithuania were Mexico ($X), the U.S. ($X) and Germany ($X), together accounting for X% of total exports. Thailand, France, Japan, Spain, Italy, Turkey, Belgium, Argentina, South Africa and Lithuania lagged somewhat behind, together comprising a further X Africa experienced the highest rates of growth with regard to exports, in terms of the main exporting countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the truck export price in Lithuania amounted to $X per unit, picking up by X% against the previous year. Overall, the export price indicated a slight 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. The pace of growth was the most pronounced in 2018 an increase of X% year-to-year. Lithuania export price peaked at $X per unit in 2011; however, from 2012 to 2018, export prices failed to regain their momentum.

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

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

Truck Imports

Imports into Lithuania

In 2018, the imports of trucks into Lithuania amounted to X units, picking up by X% against the previous year. Over the period under review, truck imports, however, continue to indicate an abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. Lithuania imports peaked at X units in 2007; however, from 2008 to 2018, imports remained at a lower figure.

In value terms, truck imports stood at $X in 2018. In general, truck imports, however, continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2017 when imports increased by X% y-o-y. Lithuania imports peaked at $X in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

Imports by Country

The Philippines was the main importing country with an import of around X units, which amounted to X% of total imports. It was distantly followed by the U.S. (X units) and Canada (X units), together generating a X% share of total imports. The UK (X units), France (X units), Australia (X units), Germany (X units) and Belgium (X units) followed a long way behind the leaders.

The Philippines was also the fastest-growing in terms of the trucks imports, with a CAGR of +X% from 2007 to 2018. At the same time, Canada (+X%), Australia (+X%), the U.S. (+X%) and Belgium (+X%) displayed positive paces of growth. France, the UK and Germany experienced a relatively flat trend pattern. From 2007 to 2018, the share of the Philippines, Canada and the U.S. increased by +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X), Canada ($X) and the UK ($X) were the countries with the highest levels of imports in 2018, together accounting for X% of total imports. These countries were followed by France, Australia, Germany, Belgium, the Philippines and Lithuania, which together accounted for a further X Philippines experienced the highest growth rate of imports, in terms of the main importing countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the truck import price in Lithuania amounted to $X per unit, shrinking by -X% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2013 an increase of X% year-to-year. Lithuania import price peaked at $X per unit in 2009; however, from 2010 to 2018, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Germany ($X per unit), while the Philippines ($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 UK, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform