Analytics, Baltic Export, Foreign trade , Lithuania, Markets and Companies

International Internet Magazine. Baltic States news & analytics Tuesday, 23.04.2024, 03:46

Lithuania's exports fall 5.4%, imports down 11.4% in 10 months

BC, Vilnius, 10.12.2020.Print version
Lithuania's exports shrank by 5.4% in January-October 2020 from a year earlier to 23.367 billion euros, and its imports slumped down by 11.4% to 23.681 billion euros, the country's statistics office said on December 10th, cites LETA/BNS.

Exports of Lithuanian-origin goods alone declined by 7.5% to 13.846 billion euros.

Lithuania's foreign trade deficit for the ten months narrowed to 314.1 million euros, from 2.017 billion euros in the same period last year, based on non-final data.

Oil product exports plunged by 51%  this year, with the volume in tons down by 26.7%, exports of land vehicle fell by 14.7%, and exports of plastics and plastic products were down by 9.5%.

Oil imports dropped by 39.7% (down by 16.8% in tons), imports of land vehicles were down by 26.6%, and imports of organic chemical products were down by 25.5%.

Excluding mineral products, overall exports rose by an annual 1.2%, but imports fell by 4.9%. Exports of Lithuanian-origin goods alone grew by 2.5%.

Lithuania's key export partners were Russia with 13.3% of the total exports, followed by Latvia with 9.4%, Germany with 8.2% and Poland with 6.5%.

Poland topped the import rankings with 13.1% of the total imports, followed by Germany with 12.3%, Russia with 10.3%, and Latvia with 7.8%.

The key export markets for Lithuanian-origin goods were Germany with 10.4%, Sweden with 7%, Latvia with 7%, Poland with 6.9%, and the Netherlands with 6.5%.


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