Lithuanian transport service loss in Russia offset by EU

Trucks
Trucks Reuters/Scanpix

“Reduced flow of goods between Russia and the EU led to a more active participation of Lithuanian transport and logistics companies in other markets, this way reducing the impact of trade restrictions announced by Russia. While the exports of transport services to Russia have fallen by more than 40 percent in the first half of the year, the total volume of transport services’ export fell by only 1.78 percent,” said Minister of Transport and Communications Rimantas Sinkevičius.

Compared with the results of H1 of 2014, the total volume of exports of transport services to Russia decreased by 40.8 percent and Russia’s market share dropped by about one tenth (from 25.6 percent to 15.4 percent) during the first six months of the year. Nevertheless, the exports of transport services to Austria (36.9 percent), Denmark (35.6 percent), France (16.4 percent) and Latvia (16.3 percent) have increased significantly.

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Similar trends have been observed also in the analysis of the changes in exports performance of road haulage services. During the first half of the year, exports of these services have fallen only slightly compared to the previous year – 1.9 percent. The exports of road transportation services to Russia fell by 57.5 percent, with a rise to the markets in Spain (52.7 percent), France (35.4 percent), Germany (20.6 percent), Denmark (15.9 percent).

The exports of transport services during the first half of the year amounted to EUR 1759.8 million (reference period in 2014 amounted to EUR 1728.4 million) and accounted for 60.7 percent of Lithuania’s total exports of services. In the assessment of Lithuania’s export of transport services to the EU, the largest market is in Germany, with France and Denmark being in the second and third places respectively.

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