Lithuania: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in Lithuania

In 2022, the Lithuanian interchangeable tool market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, posted significant growth. Over the period under review, the market hit record highs at $X in 2021, and then fell in the following year.

Interchangeable Tool Production in Lithuania

In value terms, interchangeable tool production reduced markedly to $X in 2022 estimated in export price. Overall, production, however, showed notable growth. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Interchangeable tool production peaked at $X in 2021, and then shrank sharply in the following year.

Interchangeable Tool Exports

Exports from Lithuania

In 2022, approx. X tons of interchangeable tools for hand tools were exported from Lithuania; dropping by X% against the year before. Over the period under review, exports, however, enjoyed measured growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, interchangeable tool exports totaled $X in 2022. Overall, exports, however, posted a resilient expansion. 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. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Russia (X tons), Germany (X tons) and Latvia (X tons) were the main destinations of interchangeable tool exports from Lithuania, together comprising X% of total exports. Kazakhstan, Belarus, Estonia, the Netherlands, Poland, Sweden, France, the United States and Kyrgyzstan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for interchangeable tools for hand tools exports from Lithuania, comprising X% of total exports. The second position in the ranking was taken by Belarus ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average interchangeable tool export price amounted to $X per ton, rising by X% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, interchangeable tool export price increased by X% against 2019 indices. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to the Netherlands ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Tool Imports

Imports into Lithuania

In 2022, approx. X tons of interchangeable tools for hand tools were imported into Lithuania; falling by X% compared with the year before. Overall, imports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, interchangeable tool imports declined slightly to $X in 2022. In general, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), China (X tons) and Poland (X tons) were the main suppliers of interchangeable tool imports to Lithuania, together comprising X% of total imports. Estonia, Italy, Latvia, Finland and Belarus lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of interchangeable tools for hand tools to Lithuania, comprising X% of total imports. The second position in the ranking was held by Poland ($X), with a X% share of total imports. It was followed by Italy, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Italy (X% per year).

Import Prices by Country

The average interchangeable tool import price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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