News Article

Panther Pulls Baltic States Forward

Sales & Trends

VILNIUS, Lithuania – All three Baltic states are developing their bicycle markets with average prices rising everywhere. Among them, Lithuania is the one that does practically all the trade, most of it with Germany.

Panther Pulls Baltic States Forward

Lithuania had a drop in bike exports in 2012. However, the country still remains an important supplier for the EU and especially Germany. This country imported 255,000 bicycles from Lithuania. Total export stood at 305,000 units with the rest of the export going to Latvia and Nordic countries (except for Norway).

Lithuanian Bicycle Market

2008 2009 2010 2011 2012
Export in units 388,564 263,677 330,606 334,121 304,733
Export in value (euro) 40.3m 31.8m 43.2m 47.2m 45.8m
Average unit value (euro) 103.80 120.70 130.54 141.39 150.23

Source: Eurostat

The quarter of a million exported bikes in 2012 represents a slight drop compared to two previous seasons, but things for 2013 look promising. Exports in the first half of the year surpassed 202,000 units, which is a slight increase compared to same period in 2012. There is no doubt who remains the biggest trade partner, since the nation’s largest factory UAB Baltik Vairas is owned by Panther International GmbH.

After an increase of imported bikes in 2011, 2012 shows a drop to 37,067 units. However, the total import value didn’t change a lot, which signals a positive development of the Lithuanian bicycle market.


Latvia recorded a big drop in bicycle imports in 2012 compared to 2011; from over 35,000 to 30,500 units. At the same time the import value jumped to €3.6 million. Main sources for the Latvian import are Taiwan with 7,712 units and neighboring Lithuania with 7,153 units. Poland, Romania, and Italy follow with 2-2.5 thousand units. Latvia has almost no bicycle exports.

Latvia Bicycle Market

2008 2009 2010 2011 2012
Export in units 64,296 30,304 23,755 35,365 30,514
Export in value (euro) 5.2m 3.1m 1.9m 3.0m 3.6m
Average unit value (euro) 81.50 101.30 81.00 83.87 119.05

Source: Eurostat


The bicycle market in Estonia is developing and gaining both in volume and quality. Bike import grew over 17% to over 40,000 units in 2012; the average import value per unit also went up to almost €150. The biggest suppliers remain the same, but increased their share. Trade with Cambodia and Taiwan both reached around 9,500 units, Lithuania is the third biggest supplier with 6,488 units. Recorded export is worth half of million euro or 1,784 units, setting a surprising average value of €285 per unit.

Estonian Bicycle Market

2008 2009 2010 2011 2012
Export in units 65,190 27,451 29,613 34,032 40,055
Export in value (euro) 5.8m 3.7m 3.0m 4.5m 6.0m
Average unit value (euro 89.50 133.60 99.92 130.7 148.95

Source: Eurostat

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