Lithuania: Electronic Chip Market 2024

Electronic Chip Market Size in Lithuania

The Lithuanian electronic chip market skyrocketed to $X in 2023, picking up by X% against the previous year. Over the period under review, consumption recorded a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electronic Chip Production in Lithuania

In value terms, electronic chip production declined remarkably to $X in 2023 estimated in export price. Over the period under review, production showed a resilient increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2022, and then dropped remarkably in the following year.

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Electronic Chip Exports

Exports from Lithuania

After four years of growth, overseas shipments of electronic chips decreased by X% to X units in 2023. In general, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units, and then shrank dramatically in the following year.

In value terms, electronic chip exports contracted to $X in 2023. Overall, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2014 when exports increased by X%. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

Latvia (X units), Poland (X units) and Germany (X units) were the main destinations of electronic chip exports from Lithuania, with a combined X% share of total exports. Estonia, the United States, Hong Kong SAR, Kyrgyzstan, China, Mexico, the Czech Republic, Ukraine and Belarus lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Latvia ($X) and Poland ($X) appeared to be the largest markets for electronic chip exported from Lithuania worldwide, with a combined X% share of total exports. The United States, Hong Kong SAR, Kyrgyzstan, Estonia, Ukraine, China, the Czech Republic, Mexico and Belarus lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Mexico, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average electronic chip export price stood at $X per unit in 2023, rising by X% against the previous year. Over the period under review, the export price, however, saw a abrupt decline. The growth pace was the most rapid in 2014 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Ukraine ($X per unit), while the average price for exports to Estonia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electronic Chip Imports

Imports into Lithuania

In 2023, electronic chip imports into Lithuania skyrocketed to X units, growing by X% compared with 2022 figures. In general, imports showed strong growth. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked in 2023 and are likely to see gradual growth in years to come.

In value terms, electronic chip imports shrank to $X in 2023. Overall, imports recorded a remarkable increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then declined in the following year.

Imports by Country

In 2023, Germany (X units) constituted the largest electronic chip supplier to Lithuania, with a X% share of total imports. Moreover, electronic chip imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X units), more than tenfold. The third position in this ranking was held by the Netherlands (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and the Netherlands (X% per year).

In value terms, Germany ($X) constituted the largest supplier of electronic chips to Lithuania, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by China, with an X% share.

From 2012 to 2023, the average annual growth rate of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and China (X% per year).

Import Prices by Country

In 2023, the average electronic chip import price amounted to $X per unit, reducing by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X%. The import price peaked at $X per unit in 2021; however, from 2022 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform