Russia remains Lithuania’s biggest trade partner despite Ukraine crisis

  • 2014-11-10
  • From wire reports, VILNIUS

(photo: twitter)

Russia remains Lithuania's most important trading partner despite food sanctions arising from the crisis in the Ukraine.

Latest figures from Statistics Lithuania show Russia accounted for 21.7 percent of the total export from Lithuania in the first eight months in 2014.

Goods imported from Russia constituted 22 percent of total import from the country. However, the export of Lithuanian goods fell by as much as 10.9 percent year-on-year. It was mostly impacted by the decrease of dairy, meat and other product exports.

Russia and the European Union have traded embargoes on food products as a result of the crisis in the Ukraine.

Other important export destinations apart from Russia were Latvia (8.2 percent of total export), Poland (8.2%) and Germany (7.4%). Germany, Latvia, the Netherlands and Poland where the countries to which the most Lithuanian origin goods were exported.

Biggest import partners excluding Russia were Germany (10.8 percent of the total import), Poland (9.5%) and Latvia (6.7%).

In August, Lithuania exported goods amounted to 2 billion euros, imported for 2.1 billion euros. Based on provisional data, export of Lithuanian origin goods stood at  1.1 billion euros. Compared with July 2014, Lithuania's trade declined - export decreased by 4.4 percent and import by 9.4 percent.

In September, Lithuania's trade deficit remained negative - import stood at EUR 2.4 billion euros whilst export at 2.2 billion euros of which 1.3 billion euros were Lithuanian goods.

(Edited by Rayyan Sabet-Parry)