Lithuanian exports surged by 38.8 percent, and imports grew by 7.1 percent in the first two months of 2003, compared with the same period last year, the statistics department announced.
Financial experts attribute this year's impressive growth rate to poor export figures recorded for the start of 2002, noting that the upward trend began at the end of 2002.
Preliminary data based on customs declarations showed that Lithuania's exports reached 3.7 billion litas (1 billion euros) during the two months, while imports totaled 4.1 billion litas.
According to the report, intermediate consumption goods had the largest share of exports and imports for the two months, at 50.8 percent and 63 percent, respectively. Consumption goods accounted for 26.3 percent and 16.5 percent, respectively, and investment goods for 12.1 percent and 15.2 percent, respectively.
On the list of imported commodities, the strongest growth was recorded for mineral fuel (31 percent), and machinery and mechanical appliances (15 percent). Imports of pharmaceutical products and of vehicles registered the steepest drop, at 25 percent and 17 percent, respectively.
In the first two months of 2003 compared with the same period in 2002, Lithuania's exports to EU markets rose by 10.1 percent, while imports dropped by 6.6 percent. Exports to CIS markets went down by 11.1 percent, while imports were up 23.1 percent.
Russia remained in top position in import rankings, accounting for 29.7 percent of Lithuania's total imports, followed by Germany with 14 percent, Poland with 4.3 percent and Italy with 3.8 percent.
In 2002 compared with 2001, Lithuania's exports increased by 10.6 percent, while imports grew by 11 percent. The export growth rate is forecast to reach 10 percent to 15 percent this year.
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