Lithuania’s foreign trade balance deficit at EUR 0.3bn in June

Exports of goods of Lithuanian origin amounted to EUR 1.1 billion.

The foreign trade deficit of Lithuania amounted to EUR 0.3 billion.

Over the month (June against May), exports increased by 1.8, imports – 2 percent. The increase in exports was influenced by an increase in exports of furniture (9.3 percent), articles of iron or steel (26.2 percent). The increase in imports was determined by an increase in imports of edible vegetables (33.5 percent), optical, photographic, medical or surgical instruments and apparatus (33.6 percent). Mineral products excluded, exports of products increased by 3.6, imports – 5.4 percent. Exports of goods of Lithuanian origin increased by 0.5 percent, mineral products excluded – 4.1 percent.

Over the year (June 2015 against June 2014), exports decreased by 3.6 percent, imports increased by 5 percent. The decrease in exports was determined by a decrease in exports of electrical machinery and equipment and parts thereof (38.9 percent), cereals (69.3 percent), edible vegetables (60.9 percent). The increase in imports was influenced by an increase in imports of crude oil (17.5 percent), ground vehicles (11.5 percent), boilers, machinery and mechanical appliances (7.8 percent). Mineral products excluded, exports of goods decreased by 6.8 percent, while imports increased by 3.8 percent. Exports of goods of Lithuanian origin increased by 3.7 percent, mineral products excluded – by 0.9 percent.

In January-June 2015, against January-June 2014, exports decreased by 4 percent, imports increased by 1.9 percent. The decrease in exports was influenced by a decrease in exports of edible vegetables (52 percent), milk and dairy products (33.4 percent) and petroleum products (5.3 percent).

The increase in imports was determined by an increase in imports of boilers, machinery and mechanical appliances (16.4 percent), fertilisers (59.8 percent). A decrease in value of exported petroleum products was conditioned by price drop for oil. Mineral products excluded, exports of goods decreased by 3.7 percent, while imports increased by 4 percent. Exports of goods of Lithuanian origin decreased by 2.9 percent, mineral products excluded – by 0.2 percent.

Exports to Russia decreased by 37.8 percent, of goods of Lithuanian origin – 53.5 percent, which was conditioned by a decrease in exports of milk and dairy products (93.2 percent), non-alcoholic and alcoholic beverages (73.5 percent); meat and edible meat offal was not exported. Exports of food and agricultural products to Russia decreased by 62.1 percent, of food and agricultural products of Lithuanian origin – by 79.6 percent (in January – June 2014, exports of such products amounted to EUR 149.7 million, while in the same period of 2015 – EUR 30.5 million).

In January-June 2015, the most important Lithuania’s partners in exports were Russia (13.4 percent), Latvia (10 percent), Poland (9.7 percent) and Germany (8.3 percent), in imports – Russia (17.3 percent), Germany (11.4 percent), Poland (10.1 percent) and Latvia (7.1 percent). Most of the goods of Lithuanian origin were exported to Germany (11.5 percent), Latvia (7.8 percent), the United Kingdom (7.1 percent) and Poland (7 percent).

In January-June 2015, the largest share in Lithuania’s exports and imports fell within mineral products (17 and 23 percent respectively), machinery and mechanical appliances, electrical equipment (14.2 and 17.4 percent respectively), and products of the chemical or allied industries (11.2 and 12 percent respectively). As for the goods of Lithuanian origin, the largest share in exports fell within mineral products (22.9 percent), miscellaneous manufactured articles (11.3 percent), products of the chemical or allied industries (9.9 percent), prepared foodstuffs, beverages, spirits and vinegar, tobacco and manufactured tobacco substitutes (7.8 percent).