Companies exporting their production to Britain have already suffered losses due to the depreciated British Pound, Algirdas Butkevičius told LRT radio on Thursday.
“Our companies that export to Great Britain are now calculating whether it is still possible to export with the dropped value of the Pound,” Butkevičius said.
“If negotiations started immediately, their economic effects for us would be about 0.5% of GDP. This is the lowest point. It can go up to 0.8%. That is not insignificant,” Butkevičius said.
In 2015, the UK accounted for 4.5% of exports of Lithuanian goods and 6.6% of total exports from Lithuania.
Lithuania’s economy is expected to grow between 2.3% and 2.6% this year and 3.5% in 2017.