In this economic guide to Lithuania we’ll give you an overview of the Lithuanian economy, including the country’s primary imports and exports of goods and services.
Economy of Lithuania
By total GDP volume, Lithuania positions as the 84th economy in the world. The country also ranks as:
- 66th product export economy
- 61st service export economy
The total export volume in Lithuania for the past measured year was $32.7 billion, with a $33.5 billion import total. This left Lithuania with a negative trade balance of $786 million.
Here is an overview of Lithuania’s overall gross-domestic-produce statistics and how it they rank 84th in the world:
- GDP Growth: 11.7% (2008-2018)
- GDP Total: $53.4 billion
- GDP Per Capita: $19,153
GDP per capita puts Lithuania 50th out of 196 world economies.
Lithuania’s Top 5 Commodity Exports
Lithuania’s five most exported commodities are:
- Refined Petroleum $4.25 billion
- Rolled Tobacco $920 million
- Wheat $532 million
- Scrap Iron $338 million
- Sawn Wood $267 million
Other Notable Lithuanian Exports
- Other Furniture – $1.44 billion
- Polyacetals – $651 million
- Packaged Medicaments – $586 million
- Seats $501 million
- Laboratory Reagents $460 million
Lithuania’s Top 5 Commodity Imports
The five most imported commodities to Lithuania are:
- Crude Petroleum – $3.5 billion
- Refined Petroleum – $771 million
- Petroleum Gas – $622 million
- Non-fillet Fresh Fish – $421 million
- Sawn Wood – $246 million
Other Notable Lithuanian Imports
It is worth considering that the overall oil and mineral fuels statistic is responsible for the below crude petroleum and refined petroleum figures.
- Cars – $1.2 billion
- Packaged Medicaments – $931 million
- Tractors – $676 million
- Broadcasting Equipment – $646 million
- Trailers – $467 million
Details About Lithuania’s Exports/Imports
Below we list the highest imported and exported product categories, as well as the countries with who Lithuania trades with the most.
Distribution by Product Categories
Lithuania’s most exported product categories are:
- Machines – $4.83 billion
- Mineral Products – $4.72 billion
- Chemical Products – $3.66 billion
- Miscellaneous (products like furniture, seats, mattresses, pre-built homes) – $2.67 billion
- Foodstuffs – $2.95 billion
The most imported product categories are:
- Machines – $6.01 billion
- Mineral Products- $5.44 billion
- Chemical Products – $4 billion
- Transportation – $3.79 billion
- Metals – $2.44 billion
Distribution by Destination Country & Origin
The most popular destinations for Lithuanian export products are:
Meanwhile, the countries of origin from which Lithuania imports the most produce from are:
- Russia – 26%
- Germany – 5.99%
- Poland – 5.87%
- Latvia – 5.49%
- Netherlands – 5.27%
All figures based on OEC/IMF 2018 calculations and projections unless otherwise stated.
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