Lithuania: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Lithuania

The Lithuanian water-skis and surfboards market shrank to $X in 2022, waning by -7.1% against the previous year. In general, consumption, however, enjoyed a noticeable increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Water-Skis And Surfboards Production in Lithuania

In value terms, water-skis and surfboards production rose slightly to $X in 2022 estimated in export price. Overall, production, however, saw prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 193%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Water-Skis And Surfboards Exports

Exports from Lithuania

In 2022, overseas shipments of water-skis, surfboards and sailboards increased by 49% to X units, rising for the third consecutive year after two years of decline. Over the period under review, exports recorded buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 81%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, water-skis and surfboards exports soared to $X in 2022. In general, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 150% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Kazakhstan (X units) was the main destination for water-skis and surfboards exports from Lithuania, accounting for a 52% share of total exports. Moreover, water-skis and surfboards exports to Kazakhstan exceeded the volume sent to the second major destination, Kyrgyzstan (X units), threefold. Russia (X units) 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 Kazakhstan stood at +60.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+237.9% per year) and Russia (-11.0% per year).

In value terms, Kazakhstan ($X) emerged as the key foreign market for water-skis, surfboards and sailboards exports from Lithuania, comprising 53% of total exports. The second position in the ranking was held by Kyrgyzstan ($X), with a 21% share of total exports. It was followed by Russia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Kazakhstan stood at +60.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+291.3% per year) and Russia (-3.7% per year).

Export Prices by Country

The average water-skis and surfboards export price stood at $X per unit in 2022, dropping by -22% against the previous year. Overall, the export price, however, showed buoyant growth. The pace of growth appeared the most rapid in 2021 an increase of 50%. As a result, the export price reached the peak level of $X per unit, and then declined dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Water-Skis And Surfboards Imports

Imports into Lithuania

In 2022, purchases abroad of water-skis, surfboards and sailboards increased by 15% to X units, rising for the third year in a row after two years of decline. Overall, imports posted a strong increase. The pace of growth was the most pronounced in 2014 when imports increased by 159% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, water-skis and surfboards imports expanded markedly to $X in 2022. In general, imports recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 130%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

China (X units), Austria (X units) and Germany (X units) were the main suppliers of water-skis and surfboards imports to Lithuania, with a combined 64% share of total imports. France, Italy, Poland, the Netherlands and Latvia lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +74.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), China ($X) and Germany ($X) appeared to be the largest water-skis and surfboards suppliers to Lithuania, with a combined 61% share of total imports. Italy, France, the Netherlands, Poland and Latvia lagged somewhat behind, together comprising a further 22%.

Poland, with a CAGR of +52.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average water-skis and surfboards import price amounted to $X per unit, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2015 an increase of 21%. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then contracted slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform