Lithuania Export Data

Lithuania's Import/Export Overview and Domestic Market Update

Imports & Exports

• Top Trade Partners: Lithuania's main trade partners include Germany, Poland, Latvia, and Sweden, reflecting strong regional ties and economic integration.

• Top 5 Imports: Machinery, vehicles, pharmaceuticals, mineral fuels, and plastics make up the bulk of imports, with pharmaceuticals alone accounting for nearly 10% of total imports in 2023.

• Top 5 Exports: Furniture, wood, machinery, dairy products, and pharmaceuticals dominate exports, with furniture and wood products together representing over 15% of total exports.

• Trade Balance: Lithuania experienced a slight trade deficit in 2023, primarily due to high imports of energy and machinery, though this was offset by robust exports in manufactured goods.

• Trade Policies: Adhering to EU trade rules, Lithuania focuses on reducing barriers, promoting free trade, and aligning with EU directives on environmental and safety standards.

Domestic Market

• Consumer Spending: Consumer spending in Lithuania is robust, driven by a growing middle class and increasing wages, though inflation has slightly dampened purchasing power.

• Interest Rates & Inflation: Inflation rates in 2023 were moderate, influenced by global commodity prices. The central bank adjusted interest rates to stabilize the economy and manage inflation pressures.

• Supply Chain Situation: Lithuania's supply chains have shown resilience, aided by strategic investments in logistics infrastructure and digital supply chain solutions.

• Industry Performance: The tech sector and green energy industries are thriving, while traditional sectors like agriculture and manufacturing are seeing steady growth, supported by government initiatives and EU funding.

Overall Outlook

Lithuania's economy is poised for continued growth, bolstered by a strong export sector and a vibrant domestic market. Challenges such as managing inflation and enhancing supply chain efficiency remain key areas for policy focus.