Lithuania: Knotted Carpet Market 2024

Knotted Carpet Market Size in Lithuania

The Lithuanian knotted carpet market contracted notably to $X in 2022, which is down by -28.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a modest expansion. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Knotted Carpet Exports

Exports from Lithuania

In 2022, overseas shipments of knotted carpets and other knotted textile floor coverings increased by 16% to X square meters, rising for the second consecutive year after two years of decline. In general, exports recorded prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 297%. As a result, the exports reached the peak of X square meters. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, knotted carpet exports declined sharply to $X in 2022. Over the period under review, exports showed prominent growth. The pace of growth appeared the most rapid in 2018 when exports increased by 391% against the previous year. The exports peaked at $X in 2021, and then fell notably in the following year.

Exports by Country

Kazakhstan (X square meters), the UK (X square meters) and Latvia (X square meters) were the main destinations of knotted carpet exports from Lithuania, with a combined 55% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +145.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for knotted carpets and other knotted textile floor coverings exports from Lithuania, comprising 47% of total exports. The second position in the ranking was held by Kyrgyzstan ($X), with a 16% share of total exports. It was followed by Kazakhstan, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia totaled +18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+62.6% per year) and Kazakhstan (+28.4% per year).

Export Prices by Country

In 2022, the average knotted carpet export price amounted to $X per square meter, reducing by -33.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 64% against the previous year. Over the period under review, the average export prices hit record highs at $X per square meter in 2021, and then shrank remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+22.0%), while the prices for the other major destinations experienced more modest paces of growth.

Knotted Carpet Imports

Imports into Lithuania

In 2022, approx. X square meters of knotted carpets and other knotted textile floor coverings were imported into Lithuania; with a decrease of -4.8% against the previous year's figure. Overall, imports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2013 when imports increased by 252% against the previous year. Imports peaked at X square meters in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, knotted carpet imports plummeted to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 345% against the previous year. As a result, imports reached the peak of $X, and then declined sharply in the following year.

Imports by Country

Belgium (X square meters), Turkey (X square meters) and Italy (X square meters) were the main suppliers of knotted carpet imports to Lithuania, together comprising 80% of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +52.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of knotted carpets and other knotted textile floor coverings to Lithuania, comprising 41% of total imports. The second position in the ranking was taken by Italy ($X), with a 19% share of total imports. It was followed by Greece, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Belgium totaled +38.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+39.4% per year) and Greece (-13.2% per year).

Import Prices by Country

The average knotted carpet import price stood at $X per square meter in 2022, declining by -35.1% against the previous year. Overall, the import price continues to indicate a deep slump. The growth pace was the most rapid in 2014 an increase of 194%. The import price peaked at $X per square meter in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per square meter), while the price for Estonia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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