Lithuania’s Top 10 Exports

Lithuania's Top 10 Exports

Vilnius, Lithuania’s capital

Found in the Baltic region of northeastern Europe east of Sweden and Denmark, the Republic of Lithuania shipped US$29.9 billion worth of goods around the globe in 2017. That dollar amount represents a -8.2% drop in value from 2013 to 2017 but a healthy 19.6% uptick from 2016 to 2017.

Based on estimates from the Central Intelligence Agency’s World Factbook, Lithuania’s exported goods plus services represent 75.9% of total Lithuanian economic output or Gross Domestic Product. The analysis below focuses on exported products only.

From a continental perspective, 83.6% of Lithuanian exports by value were delivered to fellow European countries while 8.6% were sold to Asian importers. Lithuania shipped another 5.5% to North American customers with 1.5% going to Africa.

Given Lithuania’s population of 2.8 million people, its total $29.9 billion in 2017 exports translates to roughly $10,600 for every resident in that country.

Lithuania’s unemployment rate was 9% as of January 2018 up from 8.7% one year earlier, according to Trading Economics.

Lithuania’s Top 10 Exports

Top 10

The following export product groups represent the highest dollar value in Lithuanian global shipments during 2017. Also shown is the percentage share each export category represents in terms of overall exports from Lithuania.

At the more granular four-digit Harmonized Tariff System (HTS) code level, Lithuania’s most valuable exports are refined petroleum oils trailed by furniture, medicines for prophylactic or therapeutic purposes, and wheat.

  1. Mineral fuels including oil: US$4.5 billion (14.9% of total exports)
  2. Machinery including computers: $2.6 billion (8.8%)
  3. Furniture, bedding, lighting, signs, prefab buildings: $2.2 billion (7.3%)
  4. Electrical machinery, equipment: $2.1 billion (7%)
  5. Plastics, plastic articles: $1.8 billion (6%)
  6. Vehicles: $1.5 billion (4.9%)
  7. Wood: $1.1 billion (3.6%)
  8. Fertilizers: $805.7 million (2.7%)
  9. Pharmaceuticals: $800.1 million (2.7%)
  10. Optical, technical, medical apparatus: $764.8 million (2.6%)

Lithuania’s top 10 exports accounted for 60.5% of the overall value of its global shipments.

Vehicles was the fastest-growing among the top 10 export categories, up 43.5% from 2016 to 2017.

In second place for improving export sales was machinery including computers which gained 29.5%.

Lithuanian exports of mineral fuels including oil posted the third-fastest gain in value up 28.9% led by higher international sales of refined petroleum oils and petroleum gases.

Pharmaceuticals was the only declining category due to a modest -0.1% drop.

Advantages

The following types of Lithuanian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

  1. Furniture, bedding, lighting, signs, prefab buildings: US$1.7 billion (Up by 16.2% since 2016)
  2. Cereals: $628.4 million (Up by 3.4%)
  3. Fertilizers: $513.6 million (Up by 2%)
  4. Wood: $402.3 million (Down by -0.2%)
  5. Tobacco, manufactured substitutes: $396.2 million (Up by 64%)
  6. Dairy, eggs, honey: $316.1 million (Up by 17.4%)
  7. Plastics, plastic articles: $281.3 million (Up by 14.1%)
  8. Milling products, malt, starches: $126.5 million (Up by 15.4%)
  9. Meat/seafood preparations: $114 million (Down by -3.5%)
  10. Optical, technical, medical apparatus: $111.8 million (Up by 48.2%)

Lithuania has highly positive net exports in the international trade of furniture, lighting, signs and prefabricated buildings. In turn, these cashflows indicate Lithuania’s strong competitive advantages under this product category.

Opportunities

Overall Lithuania incurred a -$2.6 billion trade deficit for 2017, up by 13.3% from the -$2.3 billion in red ink during 2016.

Below are exports from Lithuania that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Lithuania’s goods trail Lithuanian importer spending on foreign products.

  1. Mineral fuels including oil: -US$1.8 billion (Up by 50.8% since 2016)
  2. Vehicles: -$1.5 billion (Up by 13.3%)
  3. Machinery including computers: -$755 million (Down by -10.3%)
  4. Organic chemicals: -$590.9 million (Up by 17.4%)
  5. Electrical machinery, equipment: -$445.2 million (Down by -12.9%)
  6. Pharmaceuticals: -$336.6 million (Up by 28.7%)
  7. Salt, sulphur, stone, cement: -$232.3 million (Down by -3.1%)
  8. Fruits, nuts: -$221.6 million (Up by 29.7%)
  9. Iron, steel: -$198.1 million (Down by -0.4%)
  10. Paper, paper items: -$175.3 million (Down by -4.1%)

Lithuania has highly negative net exports and therefore deep international trade deficits under the general mineral fuels including oil category particularly for crude oil and petroleum gases.

These cashflow deficiencies clearly indicate Lithuania’s competitive disadvantages in the international fossil fuel market, but also represent key opportunities for Lithuania to improve its position in the global economy through focused innovations in vehicle manufacturing.

Companies

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)


 
Lithuania’s capital city is Vilnius.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level.

See also Lithuania’s Top Trading Partners and Lithuania’s Top 10 Imports

Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on February 21, 2018

The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on February 21, 2018

Trade Map, International Trade Centre. Accessed on February 21, 2018

Investopedia, Net Exports Definition. Accessed on March 1, 2016

Wikipedia, List of Companies of Lithuania. Accessed on March 1, 2016