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Saturday, 27.04.2024, 04:24
Russia remains Lithuania's key export partner amid fall in exports to other markets
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"I said some time ago that Russia would not be Lithuania's main export partner in 2016, but this is not we see now. This happened because exports to other markets declined as well," he said while presenting SEB Bankas' latest macroeconomic report.
"Exports to many markets decreased due to falling export prices for
oil products, food products, dairy products and fertilizers, and we have
a situation where the decrease in exports to Russia was not as steep as
that in exports to other markets," he said.
In Nauseda's words, with re-exports, which are not subject to sanctions, dominating the overall structure of exports to Russia, a fall in the export of Lithuanian-origin goods to that country has not had a significant impact.
SEB Bankas forecasts that Lithuania's annual exports will drop by 2% this year before growing by 4% t in 2017 and 5 t in 2018.
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