Lithuania is the 66th largest export economy in the world and the 34th most complex economy. Lithuania exported $26.2B, making it the 66th largest exporter in the world. The most recent exports are led by Refined Petroleum which represent 14.7% of the total exports of Lithuania, followed by Other Furniture, which account for 4.81%. Lithuania imported $30.8B, making it the 62nd largest importer in the world.
Major Exports of the country are food, manufactures and live animals. Its exports partners are North America and South African Custom Union.
Imports to Lithuania dropped 6.2 percent year-on-year to EUR 2,447.8 million in June 2019, dragged down by lower purchases of iron and steel (-29.4%), crude oil (-12.5%), machinery and mechanical appliances and parts thereof (-9.5%). Imports in Lithuania averaged 1280.80 EUR Million from 1994 until 2019, reaching an all time high of 3005.50 EUR Million in October of 2018 and a record low of 153.20 EUR Million in October of 1994.
Imports in Lithuania is expected to be 2590.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Lithuania to stand at 2620.00 in 12 months time. In the long-term, the Lithuania Imports is projected to trend around 2950.00 EUR Million in 2020.
Lithuania imported mostly: Mineral products (19 percent of total imports); machinery and mechanical appliances, electrical equipment (18 percent); chemicals (12 percent); vehicles (9 percent); base metals (6 percent); plastics and rubber (6 percent); and food products, beverages and tobacco (6 percent). Lithuania’s main import partners were Russia (14 percent of total imports), Latvia (12 percent), Poland (11 percent) and Germany (8 percent).
Exports from Lithuania decreased 2.3 percent year-on-year to EUR 2,417.7 million in June 2019, led by sales of various chemical products (-25.1%); tobacco and manufactured tobacco substitutes (-23.9%); machinery and mechanical appliances and parts thereof (-6.4%)), and mineral products (-5.4%). Exports in Lithuania averaged 1084.16 EUR Million from 1994 until 2019, reaching an all time high of 2716 EUR Million in October of 2018 and a record low of 135.50 EUR Million in October of 1994.
Exports in Lithuania is expected to be 2320.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Lithuania to stand at 2680.00 in 12 months time. In the long-term, the Lithuania Exports is projected to trend around 2750.00 EUR Million in 2020,
Lithuania exported mostly: Machinery and mechanical appliances, electrical equipment (15 percent of total exports); mineral products (14 percent); chemicals (11 percent); furniture (8 percent); food products, beverages and tobacco (8 percent); and plastics and rubber (7 percent). Lithuania’s main export partners were Russia (14 percent of total exports), Latvia (10 percent), Poland (9 percent) and Germany (8 percent).
