Lithuania’s foreign trade deficit stood at EUR 0.2bn in May

Exports of goods of Lithuanian origin amounted to EUR 1.1 billion. The foreign trade deficit of Lithuania amounted to EUR 0.2 billion.

Over the month (May 2015, against April), exports increased by 2.1, imports decreased by 3 percent. The increase in exports was influenced by an increase in exports of petroleum products (29.2 percent) and pharmaceutical products (40.2 percent). The decrease in imports was determined by a decrease in imports of ships. Mineral products excluded, exports decreased by 2.9 percent, imports – by 7.5 percent. Exports of goods of Lithuanian origin increased by 5.1 percent, mineral products excluded – decreased by 4.3 percent.

Over the year (May 2015, against May 2014), exports decreased by 1.9 percent, imports increased by 1.7 percent. The decrease in exports was determined by a decrease in exports of edible vegetables (46.5 percent), milk and dairy products (34.8 percent), plastics and articles thereof (13.1 percent). The increase in imports was influenced by an increase in imports of electrical machinery and equipment and parts thereof (18.4 percent), ground vehicles (17.4 percent), pharmaceutical products (31 percent). Mineral products excluded, exports of goods decreased by 3.5 percent, imports increased by 2.8 percent. Exports of goods of Lithuanian origin decreased by 2 percent, mineral products excluded – 3.5 percent.

In January-May 2015, against January-May 2014, exports decreased by 4 percent, imports increased by 1.3 percent. The decrease in exports was influenced by a decrease in exports of petroleum products (8.8 percent), edible vegetables (50.2 percent) and milk and dairy products (32.1 percent). The increase in imports was determined by an increase in imports of boilers, machinery and mechanical appliances (17.5 percent), electrical machinery and equipment and parts thereof (18.7 percent). A decrease in value of exported petroleum products was conditioned by price drop for oil. Mineral products excluded, exports of goods decreased by 3.1 percent, while imports increased by 4.1 percent. Exports of goods of Lithuanian origin decreased by 4.2 percent, mineral products excluded – by 0.5 percent. Exports to Russia decreased by 33.8 percent, of goods of Lithuanian origin – 55.6 percent, which was conditioned by a decrease in exports of milk and dairy products (94 percent), non-alcoholic and alcoholic beverages (73.4 percent); meat and edible meat offal was not exported. Exports of food and agricultural products (CN sections I-IV) to Russia decreased by 61.3 percent, of food and agricultural products of Lithuanian origin – by 80.6 percent (in January-May 2014, exports of such products amounted to EUR 127.6 million, while in the same period of 2015 – EUR 24.8 million).

In January-May 2015, the most important Lithuania’s partners in exports were Russia (13.6 percent), Latvia (10 percent), Poland (9.6 percent) and Germany (8.5 percent), in imports – Russia (16.9 percent), Germany (11.4 percent), Poland (10.1 percent) and Latvia (7 percent). Most of the goods of Lithuanian origin were exported to Germany (11.8 percent), Latvia (7.8 percent), the United Kingdom (7.5 percent) and Poland (7 percent).

In January-May 2015, the largest share in Lithuania’s exports and imports fell within mineral products (16.5 and 22.8 percent respectively), machinery and mechanical appliances, electrical equipment (14.3 and 17.5 percent respectively), and products of the chemical or allied industries (11.4 and 12.1 percent respectively). As for the goods of Lithuanian origin, the largest share in exports fell within mineral products (22.2 percent), miscellaneous manufactured articles (11.3 percent), products of the chemical or allied industries (10.2 percent), and plastics and articles thereof (7.7 percent).