Analytics, Banks, Direct Speech, Foreign trade , Lithuania

"The bulk of exports development is maintained by the large crops of last year, which is much smaller this year, therefore, the agricultural sector's share in export development will soon decline. In fact, exports can be influenced by the EU-Canada free trade agreement, which was recently signed and should take effect shortly,", said in a comment a Lithuanian analyst.

In his words, full recovery of Lithuanian exports is impeded by weak external demand, which is low because of China redirecting to domestic consumption, the continuing recession in Russia and its geopolitical problems, the slower growth of US economy, the slow recovery of the euro area and the remaining uncertainty about further economic development of the United Kingdom.

The comment was issued after Statistics Lithuania said that the country's exports stood at 16.436 bln euros in the first three quarters of this year and imports totaled 18.025 bln euros, which is a respective decline by 2.3% and 4.8% year-on-year.