Iron or steel stranded wire and ropes market in Lithuania

Earlier Report Observations

Between 2018 and 2024, the Lithuanian market for iron or steel stranded wire and ropes showed significant volatility, with the overall volume moving from 7 402 t to 7 561 t. This period was marked by a sharp 27% contraction in 2019, followed by a recovery and then an exceptional surge to 11 098 t in 2021.

The market peak in 2021 was followed by a substantial two-year decline, with volume dropping by 32% in 2022 and another 25% in 2023. A strong rebound of 34% occurred in 2024, bringing the market size back to 7 561 t, close to its 2018 level.

Production iron or steel stranded wire and ropes in Lithuania

In value, 2018-2021, K $ US

In 2021, Lithuania's production of iron or steel stranded wire and ropes reached 12 310 thousand US dollars, marking a significant increase of 29.3% compared to 2020. Over the period from 2018 to 2021, production grew by 29%, which translates to an annualized growth rate of 8.9%. The lowest production value was recorded in 2020 at 9 524 thousand US dollars, with the largest decline occurring that same year at 8.6%.

Annual dynamics of production in Lithuania in value, 2018-2021, K $ US

In kind, 2018-2021, t

In 2021, Lithuania produced 4 320 tonnes of iron or steel stranded wire and ropes, representing a 12.6% increase from 2020. From 2018 to 2021, production rose by 22.1%, with a compound annual growth rate of 6.9%. The most significant drop was observed in 2020, when production fell by 2.2%.

Annual dynamics of production in Lithuania in kind, 2018-2021, t

Exports iron or steel stranded wire and ropes from Lithuania

Exports in kind, t

In 2021, Lithuania exported 4 101 tonnes of iron or steel stranded wire and ropes, an 8.8% increase compared to the previous year. However, over the 2018-2021 period, exports decreased by 11.7%, equivalent to an annualized decline of 4.1%. The lowest export volume was recorded in 2020 at 3 768 tonnes, while the peak occurred in 2019 with 5 237 tonnes. The largest decline took place in 2020, falling by 28.0%, whereas the most substantial increase was in 2019, rising by 12.7%.

Annual dynamics of product's exports from Lithuania in kind, 2018-2021, t

From 2018 to 2021, the main destinations for Lithuania's exports of iron or steel stranded wire and ropes in volume terms were Denmark, accounting for 51.1% of exports, Spain with 9.8%, and Latvia at 8.9%. Together, these three countries represented 69.8% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Lithuania in kind, 2018-2021

Exports in value, K $ US

In 2021, Lithuania's exports of iron or steel stranded wire and ropes amounted to 10 231 thousand US dollars, showing a robust growth of 12.3% from the previous year. Despite this, exports declined by 20.4% over the 2018-2021 period, corresponding to an annualized decrease of 7.3%. The lowest export value was in 2020 at 9 110 thousand US dollars, while the highest was in 2019 at 14 658 thousand US dollars. The most significant drop occurred in 2020, falling by 37.9%, whereas the largest increase was in 2019, rising by 14.0%.

Annual dynamics of product's exports from Lithuania in value, 2018-2021, K $ US

Between 2018 and 2021, Denmark was the leading destination for Lithuania's exports of iron or steel stranded wire and ropes in value terms, comprising 43.1% of total exports. Russia followed with 15.6%, and Spain with 7.2%. Collectively, these three countries accounted for 65.9% of export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Lithuania in value, 2018-2021

Imports iron or steel stranded wire and ropes to Lithuania

Imports in kind, t

Lithuania's imports of iron or steel stranded wire and ropes increased for the second consecutive year in 2021, reaching 10 879 tonnes, a 57.7% rise compared to the previous year. Over the 2018-2021 period, imports grew by 27.8%, with a compound annual growth rate of 8.5%. The lowest import volume was recorded in 2019 at 6 694 tonnes, with the largest decline occurring that year at 21.3%.

Annual dynamics of product's imports to Lithuania in kind, 2018-2021, t

From 2018 to 2021, Russia was the primary source for Lithuania's imports of iron or steel stranded wire and ropes in volume terms, representing 24.4% of imports. Ukraine accounted for 18.9%, and Spain for 17.2%. Together, these three countries made up 60.6% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Lithuania in kind, 2018-2021

Imports in value, K $ US

The market for imports of iron or steel stranded wire and ropes in Lithuania showed notable volatility from 2018 to 2021. Imports reached their lowest point in 2020 and peaked in 2021, with a two-fold difference between these years. In 2021, imports amounted to 16 733 thousand US dollars, a sharp increase of 96.7% from the previous year. The minimum value was recorded in 2020 at 8 508 thousand US dollars, while the largest decline occurred in 2019, falling by 20.2%.

Annual dynamics of product's imports to Lithuania in value, 2018-2021, K $ US

Between 2018 and 2021, Lithuania's import structure for iron or steel stranded wire and ropes in value terms was relatively balanced rather than concentrated. Russia accounted for 17.2% of imports, Ukraine for 13.7%, and Spain for 12.4%. These three countries together represented 43.4% of total flows, with the remaining 56.6% distributed among many other countries.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Lithuania in value, 2018-2021