Lithuania’s exports and imports grow in July

Exports of goods of Lithuanian origin amounted to LTL 4 billion (EUR 1.16 billion). The foreign trade deficit of Lithuania amounted to LTL 0.7 billion (EUR 0.2 billion), Statistics Lithuania said.

Over the month (July 2014, against June), exports increased by 4 percent, imports – by 7.3 percent. The increase in exports was influenced by an increase in exports of petroleum products (22.7 percent) and boilers, machinery and mechanical appliances and parts thereof (30.3 percent). The increase in imports was influenced by a 15.6 percent increase in imports of crude oil, 24.8 percent – boilers, machinery and mechanical appliances and parts thereof. Mineral products excluded, exports increased by 0.9 percent, imports – by 5.4 percent. Exports of goods of Lithuanian origin increased by 5.9 percent, mineral products excluded – decreased by 1.1 percent.

In January-July 2014, the most important Lithuania’s partners in exports were Russia (21.4 percent), Latvia (9.2 percent), Poland (8.2 percent), and Germany (7.5 percent), in imports – Russia (21.8 percent), Germany (10.6 percent), Poland (9.5 percent), and Latvia (6.6 percent). Most of the goods of Lithuanian origin were exported to Germany (10.7 percent), Latvia (8.3 percent), Poland (7.3 percent), and the Netherlands (7.1 percent).

In January-July 2014, the largest share in Lithuania’s exports and imports fell within mineral products (17.4 and 25.4 percent respectively), machinery and mechanical appliances, electrical equipment (14.6 and 16 percent), and products of the chemical or allied industries (9.4 and 11 percent). As for the goods of Lithuanian origin, the largest share in exports fell within mineral products (25.7 percent), miscellaneous manufactured articles (10.1 percent), live animals and animal products (8.3 percent), and plastics and articles thereof (8.2 percent).