Analytics, Baltic Export, Baltic States – CIS, EU – Baltic States, Foreign trade , Lithuania

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 12:08

Nearly 70% Lithuanian origin goods were exported to Europe in 2014

BC, Vilnius, 30.01.2015.Print version
Based on preliminary data of Statistics Lithuania, in 2014 export accounted for EUR 24.4 billion while import for EUR 26.5 billion. Compared with 2013, export decreased by 0.8% while import increased by 1%. Foreign trade deficit was EUR 2.1 billion, reports LETA/ELTA.

In January-November 2014, Lithuania's main export partners were Russia, Latvia, Poland and Germany.

 

Most goods of Lithuanian origin were exported to the European Union, almost 70% of the total goods of Lithuanian origin exported. Goods of Lithuanian origin were mostly exported to Germany, Latvia, the Netherlands and Poland. Compared with January-November 2013, export of goods of Lithuanian origin decreased by 7% and accounted for 56.7% of the total export. If mineral products are excluded, then export of goods of Lithuanian origin grew by 4.4%.

 

Petroleum products constituted the biggest share of export of Lithuanian origin goods, even though their export fell by 28.8%. Meanwhile, export of furniture manufactured in Lithuania grew by 15.6%, wood and wood products by 6.9%, milk products by 0.9% and cereals by 1.5%. Export of Lithuanian origin agricultural and food products increased by 0.8%. However, their export to Russia dropped by 26.3%.

 

As regards import, Lithuania mostly imported goods from Russia, Germany, Poland and Latvia. The volume of goods imported from the EU Member States increased by 7.2% and accounted for 63.8% of the total import. Meanwhile, import from the Commonwealth of Independent States decreased by 14.8% and accounted for 27.6% of the total import.






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