Lithuania: Twine And Cordage Market 2025

Twine And Cordage Market Size in Lithuania

The Lithuanian twine and cordage market contracted to $X in 2022, falling by -9.5% against the previous year. Overall, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +9.0% against 2020 indices. Twine and cordage consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Twine And Cordage Production in Lithuania

In value terms, twine and cordage production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 22%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Twine And Cordage Exports

Exports from Lithuania

In 2022, overseas shipments of twine, cordage, rope and cables decreased by -3.6% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 25%. As a result, the exports attained the peak of X tons, and then declined slightly in the following year.

In value terms, twine and cordage exports expanded remarkably to $X in 2022. In general, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +98.5% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 25%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Denmark (X tons) was the main destination for twine and cordage exports from Lithuania, with a 24% share of total exports. Moreover, twine and cordage exports to Denmark exceeded the volume sent to the second major destination, Iceland (X tons), twofold. The third position in this ranking was taken by Norway (X tons), with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume to Denmark stood at +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (+0.0% per year) and Norway (+9.7% per year).

In value terms, the largest markets for twine and cordage exported from Lithuania were Denmark ($X), Norway ($X) and Iceland ($X), with a combined 39% share of total exports. The United States, Russia, the UK, Australia, Spain, Poland, Ireland, Sweden, Latvia and Finland lagged somewhat behind, together comprising a further 45%.

In terms of the main countries of destination, Poland, with a CAGR of +37.5%, recorded the highest growth rate of 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 twine and cordage export price amounted to $X per ton, picking up by 11% against the previous year. Overall, the export price, however, showed a pronounced downturn. The pace of growth appeared the most rapid in 2013 an increase of 15%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained 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 Australia ($X per ton), while the average price for exports to Latvia ($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 Russia (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Twine And Cordage Imports

Imports into Lithuania

In 2022, after two years of growth, there was decline in purchases abroad of twine, cordage, rope and cables, when their volume decreased by -4.3% to X tons. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.4% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by 61%. Imports peaked at X tons in 2021, and then declined slightly in the following year.

In value terms, twine and cordage imports rose rapidly to $X in 2022. Overall, imports, however, saw a remarkable increase. The growth pace was the most rapid in 2014 with an increase of 41%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

Latvia (X tons), India (X tons) and Portugal (X tons) were the main suppliers of twine and cordage imports to Lithuania, with a combined 61% share of total imports. China, Norway, Finland, Poland, Germany, Denmark, the Czech Republic, Greece, Bangladesh and South Korea lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of +99.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest twine and cordage suppliers to Lithuania were Latvia ($X), Portugal ($X) and India ($X), together comprising 48% of total imports. Norway, China, Greece, Denmark, Poland, Germany, Finland, the Czech Republic, South Korea and Bangladesh lagged somewhat behind, together accounting for a further 42%.

South Korea, with a CAGR of +197.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average twine and cordage import price stood at $X per ton in 2022, increasing by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2016 an increase of 23% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 Greece ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+44.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform