Lithuania’s Economy: GDP, Exports/Imports + Trading Countries

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.

Lituania’s GDP

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:

1. Refined Petroleum $4.25 billion
2. Rolled Tobacco $920 million
3. Wheat $532 million
4. Scrap Iron $338 million
5. 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:

1. Crude Petroleum – $3.5 billion
2. Refined Petroleum – $771 million
3. Petroleum Gas – $622 million
4. Non-fillet Fresh Fish – $421 million
5. 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:

1. Machines – $4.83 billion
2. Mineral Products – $4.72 billion
3. Chemical Products – $3.66 billion
4. Miscellaneous (products like furniture, seats, mattresses, pre-built homes) – $2.67 billion
5. Foodstuffs – $2.95 billion

The most imported product categories are:

1. Machines – $6.01 billion
2. Mineral Products- $5.44 billion
3. Chemical Products – $4 billion
4. Transportation – $3.79 billion
5. Metals – $2.44 billion

Distribution by Destination Country & Origin

The most popular destinations for Lithuanian export products are:

1. Russia – 13.3%
2. Latvia – 9.28%
3. Poland – 7.62%
4. Germany – 7.18%
5. Sweden – 4.74%

Meanwhile, the countries of origin from which Lithuania imports the most produce from are:

1. Russia – 26%
2. Germany – 5.99%
3. Poland – 5.87%
4. Latvia – 5.49%
5. Netherlands – 5.27%

All figures based on OEC/IMF 2018 calculations and projections unless otherwise stated.

Regulated Brokers: Where Can I Trade Commodities?

Start your research with reviews of these regulated brokers available in .

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74%-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

Further Reading

• Commodity.com Guide to Commodity Brokers
• Commodity.com Guide to CFD Brokers
• Guide to Trading Energy Commodities
• Crude Oil Trading Guide