Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Lithuania - 2023

Contents:

1. Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Lithuania (CIF) - 2023
2. Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Lithuania (FOB) - 2023
3. Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Lithuania
4. Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Lithuania

Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Lithuania (CIF) - 2023

In November 2023, the average import price for refrigerating or freezing equipment; parts thereof, other than furniture amounted to $33.8 per unit, declining by -13.9% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 74% month-to-month. Over the period under review, average import prices attained the maximum at $65.6 per unit in February 2023; however, from March 2023 to November 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Italy ($97.0 per unit), while the price for Romania ($9.3 per unit) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Turkey (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Lithuania (FOB) - 2023

The average export price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $102 per unit in November 2023, therefore, remained relatively stable against the previous month. In general, export price indicated a mild increase from November 2022 to November 2023: its price increased at an average monthly rate of +1.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, export price for refrigerating or freezing equipment; parts thereof, other than furniture increased by +16.8% against September 2023 indices. The pace of growth appeared the most rapid in July 2023 an increase of 86% against the previous month. As a result, the export price reached the peak level of $123 per unit. From August 2023 to November 2023, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In November 2023, the country with the highest price was New Zealand ($1,028 per unit), while the average price for exports to South Africa ($50.6 per unit) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (+17.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Lithuania

For the fourth year in a row, Lithuania recorded growth in supplies from abroad of refrigerating or freezing equipment; parts thereof, other than furniture, which increased by 3.2% to 529K units in 2022. The total import volume increased at an average annual rate of +8.4% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 12%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, imports of refrigerating or freezing equipment; parts thereof, other than furniture reduced to $23M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +14.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.6% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 40%. Imports peaked at $24M in 2021, and then contracted slightly in the following year.

Top Suppliers of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture to Lithuania in 2022:

1. Germany (137.7K units)
2. Poland (93.7K units)
3. Czech Republic (84.3K units)
4. Turkey (52.1K units)
5. Italy (45.7K units)
6. Belarus (31.3K units)
7. United Kingdom (19.4K units)
8. China (13.1K units)
9. France (4.6K units)
10. Russia (0.7K units)

Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Lithuania

In 2022, shipments abroad of refrigerating or freezing equipment; parts thereof, other than furniture decreased by -33% to 146K units, falling for the second consecutive year after two years of growth. In general, exports saw a deep downturn. The growth pace was the most rapid in 2020 when exports increased by 6.3% against the previous year. As a result, the exports attained the peak of 224K units. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of refrigerating or freezing equipment; parts thereof, other than furniture reduced to $9.4M in 2022. Over the period under review, exports saw a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. As a result, the exports reached the peak of $11M, and then reduced in the following year.

Top Export Markets for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture from Lithuania in 2022:

1. Kazakhstan (30.8K units)
2. Russia (29.3K units)
3. Latvia (27.5K units)
4. Germany (9.0K units)
5. Estonia (5.3K units)
6. Belarus (4.7K units)
7. France (4.1K units)
8. Georgia (3.2K units)
9. Spain (2.8K units)
10. Norway (2.7K units)
11. Poland (2.3K units)
12. Uzbekistan (2.3K units)
13. Switzerland (2.1K units)

Source: IndexBox Market Intelligence Platform