Lithuania flag Lithuania: Economic and Political Overview

Foreign trade figures of Lithuania

Foreign Trade in Figures

Lithuania is a very open economy, with foreign trade representing 138.5% of GDP (World Bank, latest data available). According to Statistics Lithuania, in 2021 the country’s main exports were in the chemical and related industries (14.9%), machinery and electrical equipment (13.5%), and mineral products (10%). Lithuania mostly imported machinery and mechanical equipment (17.8%), mineral products (17.3%), and chemical and related products (12.2%).

The European Union is Lithuania’s major trading partner. Its exports are mostly destined to Russia (13.4%), Latvia (9.2%), Germany (8.1%) and Poland (6.4%). The main origins of Lithuania’s imports were Poland (13%), Germany (12.9%), Russia (8.8%), Latvia (7.8%) and the Netherlands (5.5%).

The country's merchandise trade balance has historically been in deficit, which can largely be explained by the country's energy imports and, particularly, by the large amount of gas it imports from Russia. In 2021, Lithuania exported goods worth EUR 34.5 billion, with imports amounting to EUR 37.5 billion. Compared to a year before, exports in 2021 increased by 20.3% and imports by 28.5%. However, the balance of services is generally positive: in the first three quarters of 2021 exports stood at EUR 3.2 billion (+17.8%) as imports grew at a faster pace, to EUR 2 billion (+39.1% y-o-y – Statistics Lithuania).

 
Foreign Trade Values 20172018201920202021
Imports of Goods (million USD) 32,25836,50235,75933,14044,585
Exports of Goods (million USD) 29,90133,33733,15132,76740,828
Imports of Services (million USD) 5,8717,0507,6926,5049,061
Exports of Services (million USD) 9,40811,33013,19112,25315,214

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20162017201820192020
Foreign Trade (in % of GDP) 134.5144.9148.6149.7138.5
Trade Balance (million USD) -2,101-2,307-3,289-2,634-304
Trade Balance (Including Service) (million USD) 3041,1339772,8385,419
Imports of Goods and Services (Annual % Change) 4.011.16.06.3-5.3
Exports of Goods and Services (Annual % Change) 4.913.56.89.5-0.0
Imports of Goods and Services (in % of GDP) 66.971.373.472.264.4
Exports of Goods and Services (in % of GDP) 67.673.675.277.474.1

Source: World Bank ; Latest available data

Foreign Trade Forecasts 2022 (e)2023 (e)2024 (e)2025 (e)2026 (e)
Volume of exports of goods and services (Annual % change) -2.21.74.33.53.4
Volume of imports of goods and services (Annual % change) 0.03.85.74.74.2

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Lithuania is member of the European Union since 2004 and has close ties with nearby Baltic and Eastern European countries. It is well integrated in the international trade system and is party to a number of agreements.
 

Main Partner Countries

Main Customers
(% of Exports)
2021
Latvia 9.3%
Germany 8.2%
Poland 7.9%
United States 6.3%
Netherlands 5.1%
See More Countries 63.2%
Main Suppliers
(% of Imports)
2021
Germany 12.8%
Poland 12.1%
Latvia 7.7%
Netherlands 5.3%
Italy 4.5%
See More Countries 57.6%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

40.8 bn USD of products exported in 2021
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 8.2%
Furniture and parts thereof, n.e.s. (excl. seats...Furniture and parts thereof, n.e.s. (excl. seats and medical, surgical, dental or veterinary furniture) 4.8%
Diagnostic or laboratory reagents on a backing,...Diagnostic or laboratory reagents on a backing, prepared diagnostic or laboratory reagents whether or not on a backing, and certified reference materials (excl. compound diagnostic reagents designed to be administered to the patient, blood-grouping reagents, animal blood prepared for therapeutic, prophylactic or diagnostic uses and vaccines, toxins, cultures of micro-organisms and similar products) 2.8%
Wheat and meslinWheat and meslin 2.0%
Cigars, cheroots, cigarillos and cigarettes of...Cigars, cheroots, cigarillos and cigarettes of tobacco or of tobacco substitutes 2.0%
See More Products 80.1%
44.6 bn USD of products imported in 2021
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 9.4%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.4%
Electrical energyElectrical energy 3.0%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.6%
Tractors (other than tractors of heading 8709)Tractors (other than tractors of heading 8709) 2.1%
See More Products 79.4%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import Export Flows.

 

Main Services

2.0 bn USD of services exported in 2020
49.17%
29.76%
10.93%
4.86%
2.48%
2.28%
0.43%
0.09%
1.4 bn USD of services imported in 2020
38.57%
27.79%
7.17%
5.70%
5.60%
5.53%
3.54%
3.19%
2.91%

Source: United Nations Statistics Division, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: November 2022

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