Key Market Indicators
**Lithuanian Maritime Transport Sales Set for Marginal Growth by 2028** Lithuanian Maritime Transport Sales are on track to reach approximately €163 million by 2028, up from €162 million in 2023. This represents a modest compound annual growth rate (CAGR) of 0.1% year on year. Since 2010, the Lithuanian market has seen an average annual growth of 0.5%. In 2023, Lithuania ranked 18th in maritime transport sales, with Romania surpassing it at €162 million. The top spots in the ranking were held by Denmark, France, and the United Kingdom, respectively. **Lithuanian Vessel Fleet Expected to Expand Slightly** The Lithuanian Vessel Fleet is projected to increase to 5,430 units by 2028, up from 5,230 units in 2023. This equates to a year-on-year CAGR of 0.6%. Since 2009, the supply of vessels in Lithuania has grown by an average of 1.2% annually. In 2023, Lithuania held the 21st position in terms of fleet size, with Romania again coming in ahead at 5,230 units. Italy, Denmark, and Croatia occupied the second, third, and fourth spots in this ranking, respectively.
