Analytics, Foreign trade , Lithuania

Foreign trade deficit of Lithuania made LTL 5.1 billion and was by 27.7% higher that during the same period in 2007. Statistical data on trade with EU countries have been revised having obtained VAT declaration data.

In Q1 2008 as compared with Q1 2007, exports and imports increased by 30.8 and 29.9%, respectively.

The major impact on the growth of exports was made by the increase in exports of petroleum oils and oils obtained from bituminous minerals (2.7 times), fertilizers (64.8%), cereals (11.7 times). Imports grew due to the increasing imports of petroleum and natural gas (2.7 times), vehicles (14.5%) and fertilizers (2.7 times).

In Q1 2008, the most important partners in exports were Russia (15%), Latvia (11.6%), Germany (8%) and Denmark (6.3%). The most significant partners in imports were Russia (29%), Germany (12.1%), Poland (9.6%) and Latvia (5.4%).

In the first quarter of the current year, the bulk of Lithuania’s exports fell per mineral products (23.3%), machinery, mechanical appliances and electrical equipment (10.8%), products of the chemical or allied industries (9.1%). The most significant share in imports fell per mineral products (27.4%), machinery, mechanical appliances and electrical equipment (14.4%), vehicles and associated transport equipment (13.9%).