Jewellery and precious metal wares market in Lithuania

Earlier Report Observations

The Lithuanian jewellery market expanded steadily from 17.7 million USD in 2018 to 24.0 million USD in 2020. During this period, local production was characterized by small goldsmith workshops in major cities, blending Western trends with national style elements and a diversity of materials like silver and precious stones, which supported market activity.

A sharp surge to 33.3 million USD occurred in 2021, followed by a more moderate increase to 34.1 million USD in 2022. In 2023, the market experienced a slight contraction to 33.8 million USD, coinciding with geopolitical tensions from the war in Ukraine that disrupted supply chains and affected precious metal prices. Concurrently, the trade sector demonstrated resilience through the adoption of e-commerce and social media marketing, helping to sustain consumer engagement.

By 2024, the market recovered to 38.6 million USD. Entering 2025, record gold demand and historically high prices were observed, fueled by geopolitical uncertainty, central bank purchases, and investor activity. However, gold consumption for jewellery in Lithuania declined, indicating a shift toward investment demand rather than ornamental use.

Production jewellery and precious metal wares in Lithuania

In value, 2018-2021, K $ US

In 2021, Lithuania's output of jewellery and precious metal wares reached 8 381 thousand US dollars, marking a significant 27.5% increase from 2020. Over the period from 2018 to 2021, production grew by 16.2%, with an average annual growth rate of 5.1%. The lowest value was recorded in 2020 at 6 574 thousand US dollars, which also saw the largest decline of 9.9%.

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

Exports jewellery and precious metal wares from Lithuania

Exports in kind, kg

In 2021, Lithuania exported 6 631 kilograms of jewellery and precious metal wares, representing a dramatic 31.5% increase compared to the previous year. From 2018 to 2021, exports rose by 35.3%, with an average annual growth rate of 10.6%. The largest decline occurred in 2020, with a drop of 17.5%.

Annual dynamics of product's exports from Lithuania in kind, 2018-2021, kg

Between 2018 and 2021, the leading destinations for Lithuania's exports of jewellery and precious metal wares in kind were Russia, accounting for 46.5% of exports, Denmark with 33.0%, and Latvia at 5.4%. Together, these three countries represented 84.9% 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

After a two-year decrease, Lithuania's exports of jewellery and precious metal wares in value terms rebounded in 2021, reaching 8 229 thousand US dollars, a 10.7% increase year-over-year. However, between 2018 and 2021, overall exports declined by 20.4%, equating to an average annual decrease of 7.3%. The lowest value was recorded in 2020 at 7 434 thousand US dollars, following the largest decline of 20.8% in 2019.

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

From 2018 to 2021, Denmark led the structure of Lithuania's exports in value terms with 36.5%, followed by Estonia at 24.9%, and Latvia with 15.4%. Collectively, these three countries accounted for 76.9% of total 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 jewellery and precious metal wares to Lithuania

Imports in kind, kg

Following a two-year decrease, Lithuania's imports of jewellery and precious metal wares in kind increased in 2021, totalling 6 451 kilograms, a substantial 61.9% rise from 2020. Over the period from 2018 to 2021, imports grew by 24.5%, with an average annual growth rate of 7.6%. The lowest value was recorded in 2020 at 3 985 kilograms, after the largest decline of 18.4% in 2019.

Annual dynamics of product's imports to Lithuania in kind, 2018-2021, kg

Between 2018 and 2021, Germany was the largest supplier of jewellery and precious metal wares to Lithuania in kind, representing 58.4% of imports, followed by Turkey at 9.4%, and Italy with 7.3%. Together, these three countries formed 75.1% of total imports in kind.

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

Lithuania's imports of jewellery and precious metal wares in value terms increased for the third consecutive year in 2021, reaching 33 107 thousand US dollars, an abrupt 33.3% rise year-over-year. From 2018 to 2021, imports surged by 58.9%, with an average annual growth rate of 16.7%.

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

Over the period from 2018 to 2021, Turkey was the primary supplier of jewellery and precious metal wares to Lithuania in value terms, accounting for 38.2% of imports, followed by Germany at 19.0%, and Russia with 7.6%. Jointly, these three countries represented 64.7% of total imports in value terms.

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

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