Year over year, the total value of Lithuanian exports rose 13.5% from $40.8 billion in 2021.
The 5 biggest importers of exported products from Lithuania are Latvia, Poland, Germany, Russia and Estonia. Collectively, that quintet of leading customers generated 41.7% of total export revenues collected by Lithuania in 2022.
Applying a continental lens, over four-fifths (81.9%) of Lithuania’s exports by value was delivered to fellow European countries while 9% was bought by Asian importers. Lithuania shipped another 5.8% worth of goods to customers in North America.
Smaller percentages arrived in Africa (2.3%), Latin America (0.5%) excluding Mexico but including the Caribbean, then Oceania (0.4%) led by Australia and New Zealand.
Lithuania’s Top Trading Partners
Below is a list showcasing 25 of Lithuania’s top trading partners in terms of exports sales. That is, countries that imported the most Lithuanian shipments by dollar value during 2022. Also shown is each import country’s percentage of total Lithuanian exports.
- Latvia: US$5.9 billion (12.8% of Lithuania’s total exports)
- Poland: $4.2 billion (9%)
- Germany: $3.7 billion (7.9%)
- Russia: $2.9 billion (6.2%)
- Estonia: $2.7 billion (5.7%)
- Netherlands: $2.53 billion (5.4%)
- United States: $2.49 billion (5.4%)
- Sweden: $1.9 billion (4.1%)
- United Kingdom: $1.6 billion (3.5%)
- Belarus: $1.5 billion (3.2%)
- Ukraine: $1.19 billion (2.6%)
- Norway: $1.14 billion (2.5%)
- Denmark: $1.06 billion (2.3%)
- France: $1.05 billion (2.3%)
- Italy: $967.2 million (2.1%)
- Kazakhstan: $896 million (1.9%)
- Finland: $834.8 million (1.8%)
- Belgium: $704.8 million (1.5%)
- Spain: $674.9 million (1.5%)
- Türkiye: $662.9 million (1.4%)
- Czech Republic: $538 million (1.2%)
- Austria: $402.4 million (0.9%)
- Nigeria: $365.3 million (0.8%)
- Kyrgyzstan: $332.9 million (0.7%)
- Uzbekistan: $328.8 million (0.7%)
Almost nine-tenths (89.7%) of Lithuanian exports in 2022 were delivered to the above 25 trade partners.
The fastest increases among Lithuania’s top import customers from 2021 to 2022 were buyers in: Kyrgyzstan (up 817.4%), Kazakhstan (up 113.1%), Uzbekistan (up 79.4%), Latvia (up 56.1%) and Nigeria (up 43.4%).
Year-over-year declines belonged to Russia (down -34.9% from 2021), Ukraine (down -23.4%), Belgium (down -12.3%), United States of America (down -2.7%) and Austria (down -1.7%).
Countries Causing Greatest Trade Deficits for Lithuania
Lithuania incurred a total -$8.6 billion trade deficit for 2022, swelling by 129.1% from the -$3.76 billion in red ink during 2021.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Lithuania incurred the highest trade deficits with the following countries:
- Germany: -US$2.8 billion (country-specific trade deficit in 2022)
- Poland: -$2.2 billion
- Saudi Arabia: -$2.05 billion
- mainland China: -$1.98 billion
- United States of America: -$1.6 billion
- Norway: -$1.5 billion
- Italy: -$1 billion
- Sweden: -$960 million
- Finland: -$498.1 million
- Czech Republic: -$471.9 million
Among Lithuania’s trading partners that cause the greatest negative trade balances, Lithuanian deficits with Czech Republic (up 39.7%), mainland China (up 25.2%) and Germany (up 19%) grew at the fastest pace from 2021 to 2022.
In addition, Russia went from generating a $1.4 billion surplus in 2021, Norway a $861 million surplus, Sweden a $106.8 million surplus and Saudi Arabia a $91.8 million surplus, to post the trade deficits listed above for 2022.
These cashflow deficiencies clearly indicate Lithuania’s competitive disadvantages with the above countries, but also represent key opportunities for Lithuania to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Biggest Trade Surpluses for Lithuania
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Lithuania earned the highest trade surpluses with the following countries.
- Latvia: US$1.7 billion (country-specific trade surplus in 2022)
- Estonia: $903.8 million
- Belarus: $683.1 million
- Ukraine: $672.9 million
- Denmark: $382.3 million
- Nigeria: $361.4 million
- Kazakhstan: $306.7 million
- Kyrgyzstan: $284.5 million
- Singapore: $229.9 million
- Switzerland: $214.3 million
Among Lithuania’s trading partners that generate the greatest positive trade balances, Lithuanian surpluses with Latvia (up 367.5%), Estonia (up 84.5%) and Switzerland (up 52.2%) grew at the fastest pace from 2021 to 2022.
In addition, Lithuania went from incurring trade deficits in 2021 with Kazakhstan, Belarus and Kyrgyzstan to posting the surpluses listed above for those countries.
These positive cashflow streams clearly indicate Lithuania’s competitive advantages with the above countries, but also represent key opportunities for Lithuania to develop country-specific strategies to optimize its overall position in international trade.
Lithuanian Export Companies
Wikipedia lists the following Lithuania-based companies involved in international trade.
- AB Stumbras (alcoholic beverages)
- Achema (fertilizers)
- Alita (alcoholic beverages)
- Dvarčionių keramika (ceramics)
- EKSPLA (photonics, lasers)
See also Lithuania’s Top 10 Imports, Lithuania’s Top 10 Exports, Russia’s Top Trading Partners and Russia’s Top 10 Exports
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on April 23, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 23, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on April 23, 2023
International Trade Centre, Trade Map. Accessed on April 23, 2023
Investopedia, Net Importer Definition. Accessed on April 23, 2023
Wikipedia, List of Companies of Lithuania. Accessed on April 23, 2023