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Enterprise Lithuania lifts export growth forecasts
BC, Vilnius, 19.09.2017.
Print version
Print versionEnterprise Lithuania, the government's export promotion agency, expects exports of Lithuanian-origin goods to rise by 12% this year compared with 2016 to reach 12.3 billion euros, up from its spring forecast of 6.5% growth to 11.6 billion euros, informs LETA/BNS.
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"The upward revision of export growth this year is due to demand in
the European Union increasing at a faster-than-expected rate and to rising
export prices," Enterprise Lithuania said in a report.
The agency expects re-exports to grow by 25.8% this year from 2016 to 10.7
billion euros.
"In 2018, (re-exports') annual growth will likely slow down to 10.9%
due to a negative statistical base effect. The anticipated growth in re-exports
will be driven by a recovering Russian economy and Lithuanian re-exporters'
further expansion into Western European and Scandinavian markets," it
said.
According to figures from Statistics Lithuania, the country's exports for
January through July 2017 rose by 16.8% year-on-year to 14.676 billion euros.
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