Lithuania: Market for Instrument Panel And Wall Clocks 2024

Market Size for Instrument Panel And Wall Clocks in Lithuania

For the third consecutive year, the Lithuanian market for instrument panel and wall clocks recorded growth in sales value, which increased by X% to $X in 2020. Over the period under review, consumption showed a prominent increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Instrument Panel And Wall Clocks in Lithuania

In value terms, instrument panel and wall clock production soared to $X in 2020 estimated in export price. Overall, production continues to indicate buoyant growth. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Instrument Panel And Wall Clocks

Exports from Lithuania

In 2020, shipments abroad of instrument panel and wall clocks decreased by X% to X units, falling for the third year in a row after two years of growth. Overall, exports recorded a perceptible decrease. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2020, the growth of the exports remained at a somewhat lower figure.

In value terms, instrument panel and wall clock exports dropped notably to $X in 2020. Over the period under review, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2020, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for instrument panel and wall clock exports from Lithuania, with a X% share of total exports. Moreover, instrument panel and wall clock exports to China exceeded the volume sent to the second major destination, Germany (X units), threefold. Latvia (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2020, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Latvia (X% per year).

In value terms, Latvia ($X) remains the key foreign market for instrument panel and wall clocks exports from Lithuania, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2020, the average annual growth rate of value to Latvia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Germany (X% per year).

Export Prices by Country

In 2020, the average export price for instrument panel and wall clocks amounted to $X per unit, growing by X% against the previous year. Over the period under review, the export price, however, recorded a pronounced curtailment. The pace of growth was the most pronounced in 2014 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2020, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2020, amid the top suppliers, the country with the highest price was Latvia ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (X%), while the prices for the other major destinations experienced a decline.

Imports of Instrument Panel And Wall Clocks

Imports into Lithuania

In 2020, overseas purchases of instrument panel and wall clocks decreased by X% to X units, falling for the fourth consecutive year after two years of growth. Over the period under review, imports recorded a sharp decline. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2020, the growth of imports remained at a lower figure.

In value terms, instrument panel and wall clock imports shrank rapidly to $X in 2020. In general, imports saw a precipitous shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2020, the growth of imports remained at a lower figure.

Imports by Country

France (X units), Latvia (X units) and China (X units) were the main suppliers of instrument panel and wall clock imports to Lithuania.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X) constituted the largest supplier of instrument panel and wall clocks to Lithuania, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2020, the average annual growth rate of value from Latvia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).

Import Prices by Country

The average import price for instrument panel and wall clocks stood at $X per unit in 2020, remaining constant against the previous year. In general, import price indicated prominent growth from 2012 to 2020: its price increased at an average annual rate of X% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, instrument panel and wall clock import price decreased by X% against 2015 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2016 to 2020, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, amid the top importers, the country with the highest price was Latvia ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Latvia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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