Lithuania: Jewelry Market 2024

Jewelry Market Size in Lithuania

In 2022, the Lithuanian jewelry market decreased by X% to $X for the first time since 2016, thus ending a five-year rising trend. In general, consumption, however, continues to indicate a prominent expansion. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Jewelry Production in Lithuania

In value terms, jewelry production rose notably to $X in 2022 estimated in export price. In general, production saw a pronounced decline. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Jewelry production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Jewelry Exports

Exports from Lithuania

In 2022, the amount of jewelry exported from Lithuania shrank to X tons, waning by X% on the year before. In general, exports saw a deep setback. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, jewelry exports soared to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Denmark (X tons) was the main destination for jewelry exports from Lithuania, with a X% share of total exports. Moreover, jewelry exports to Denmark exceeded the volume sent to the second major destination, Kazakhstan (X kg), threefold. The third position in this ranking was taken by Russia (X kg), with a X% share.

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

In value terms, the largest markets for jewelry exported from Lithuania were Denmark ($X), Estonia ($X) and Latvia ($X), together accounting for X% of total exports.

Estonia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average jewelry export price amounted to $X per kg, jumping by X% against the previous year. Over the period under review, the export price recorded a remarkable increase. The most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per kg), while the average price for exports to Kazakhstan ($X per kg) was amongst the lowest.

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

Jewelry Imports

Imports into Lithuania

In 2022, approx. X tons of jewelry were imported into Lithuania; waning by X% on 2021. Overall, imports, however, saw a tangible increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then contracted sharply in the following year.

In value terms, jewelry imports amounted to $X in 2022. In general, imports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Germany (X tons) constituted the largest jewelry supplier to Lithuania, with a X% share of total imports. Moreover, jewelry imports from Germany exceeded the figures recorded by the second-largest supplier, Turkey (X kg), fourfold. The third position in this ranking was taken by Spain (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Spain (X% per year).

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

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

Import Prices by Country

In 2022, the average jewelry import price amounted to $X per kg, jumping by X% against the previous year. Overall, import price indicated a remarkable increase 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. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per kg), while the price for Spain ($X per kg) was amongst the lowest.

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

Source: IndexBox Platform

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