Lithuania flag Lithuania: Economic and Political Overview

Foreign trade figures of Lithuania

Foreign Trade in Figures

Lithuania is a very open economy, with foreign trade representing 156% of GDP (World Bank, latest data available). According to Statistics Lithuania, in 2021 the country’s main exports were in the chemical and related industries (14.9%), machinery and electrical equipment (13.5%), and mineral products (10%). Lithuania mostly imported machinery and mechanical equipment (17.8%), mineral products (17.3%), and chemical and related products (12.2%).

Considered as a whole, the European Union is Lithuania’s major trading partner. In terms of single countries, in 2021 exports were mostly destined to Russia (10.8%), Latvia (9.3%), Germany (8.2%) and Poland (8%). The main origins of Lithuania’s imports were Germany (12.8%), Poland (12.1%), Russia (11.9%), Latvia (8%) and the Netherlands (5% - data Statistics Lithuania).
 
The country's merchandise trade balance has historically been in deficit, which can largely be explained by the energy imports and, particularly, by the large amount of gas Lithuania imports from Russia. In 2021, Lithuania exported goods worth EUR 40.8 billion, with imports amounting to EUR 44.5 billion. Compared to a year before, exports in 2021 increased by 24.6% and imports by 34.5%. However, the balance of services is generally positive: in 2021 exports stood at EUR 15.2 billion (+24.1%) as imports grew at a faster pace, to EUR 9 billion (+39.3% y-o-y – WTO). According to the national Department of Statistics, exports of goods of Lithuanian origin reached EUR 12.7 billion between January and June 2022 and increased by 31.1% compared to the corresponding period of 2021. Germany, Poland, and the U.S. were the leading export destinations.

 
Foreign Trade Values 20182019202020212022
Imports of Goods (million USD) 36,50235,75933,32944,48854,938
Exports of Goods (million USD) 33,33733,15132,80540,70646,340
Imports of Services (million USD) 7,0927,7406,7239,62411,982
Exports of Services (million USD) 11,43013,28212,47416,05118,319

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 148.6149.3137.0156.5177.1
Trade Balance (million USD) -3,367-2,634-451-3,414-7,688
Trade Balance (Including Service) (million USD) 9592,9045,3073,020-1,384
Imports of Goods and Services (Annual % Change) 6.06.0-4.519.912.3
Exports of Goods and Services (Annual % Change) 6.810.10.417.011.9
Imports of Goods and Services (in % of GDP) 73.472.063.976.089.5
Exports of Goods and Services (in % of GDP) 75.277.373.280.587.6

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) -1.75.14.84.94.9
Volume of imports of goods and services (Annual % change) -1.85.35.05.15.1

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Lithuania is member of the European Union since 2004 and has close ties with nearby Baltic and Eastern European countries. It is well integrated in the international trade system and is party to a number of agreements.
 

Main Partner Countries

Main Customers
(% of Exports)
2022
Latvia 12.8%
Poland 9.1%
Germany 7.9%
Russia 6.2%
Estonia 5.7%
See More Countries 58.3%
Main Suppliers
(% of Imports)
2022
Poland 11.7%
Germany 11.6%
Latvia 7.9%
United States 7.5%
Sweden 5.2%
See More Countries 56.1%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

46.5 bn USD of products exported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 11.6%
Furniture and parts thereof, n.e.s. (excl. seats...Furniture and parts thereof, n.e.s. (excl. seats and medical, surgical, dental or veterinary furniture) 4.7%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 3.1%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 2.4%
Wheat and meslinWheat and meslin 2.2%
See More Products 76.0%
55.1 bn USD of products imported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 11.1%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 9.5%
Electrical energyElectrical energy 4.6%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.5%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 2.1%
See More Products 69.2%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: December 2023