The 5 biggest importers of exported products from Lithuania are Russia, Latvia, Germany, Poland and the United States of America. Collectively, that quintet of leading customers bought 42.6% of total export revenues collected by Lithuania in 2021.
Applying a continental lens, 82.9% of Lithuania’s exports by value was delivered to fellow European countries while 7.1% was sold to importers in Asia. Lithuania shipped another 6.9% worth of goods to North America.
Lesser percentages arrived in Africa (2.1%), Latin America (0.6%) excluding Mexico but including the Caribbean, and Oceania (0.4%) led by Australia.
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 2021. Also shown is each import country’s percentage of total Lithuanian exports.
- Russia: US$4.4 billion (10.8% of Lithuania’s total exports)
- Latvia: $3.8 billion (9.4%)
- Germany: $3.3 billion (8.2%)
- Poland: $3.2 billion (7.9%)
- United States: $2.6 billion (6.3%)
- Netherlands: $2.1 billion (5.1%)
- Estonia: $2 billion (4.9%)
- Sweden: $1.81 billion (4.4%)
- United Kingdom: $1.59 billion (3.9%)
- Ukraine: $1.55 billion (3.8%)
- Belarus: $1.2 billion (3%)
- Norway: $1.1 billion (2.6%)
- Denmark: $1 billion (2.5%)
- France: $977.6 million (2.4%)
- Italy: $933.1 million (2.3%)
- Belgium: $803.2 million (2%)
- Finland: $715.7 million (1.8%)
- Turkey: $610.7 million (1.5%)
- Spain: $520.6 million (1.3%)
- Czech Republic: $493.2 million (1.2%)
- Kazakhstan: $420.6 million (1%)
- Austria: $409.3 million (1%)
- Hungary: $337.9 million (0.8%)
- Singapore: $298.2 million (0.7%)
- China: $270.4 million (0.7%)
Almost nine-tenths (89.4%) of Lithuanian exports in 2021 were delivered to the above 25 trade partners.
The fastest increases among Lithuania’s top import customers from 2020 to 2021 are: Singapore (up 254.4%), United States of America (up 76%), Turkey (up 56.7%), Poland (up 54.2%) and Ukraine (up 51.6%).
Leading declines year over year belong to mainland China (down -24.4%) and Kazakhstan (down -5.9%).
Countries Causing Greatest Trade Deficits for Lithuania
Lithuania incurred an overall -$3.7 billion trade deficit for 2021, up by 637.9% from the -$506.8 million in red ink during 2020.
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$2.3 billion (country-specific trade deficit in 2021)
- Poland: -$2.1 billion
- China: -$1.6 billion
- Italy: -$1.1 billion
- Russia: -$963.1 million
- Kazakhstan: -$892.3 million
- Finland: -$548.1 million
- France: -$432.1 million
- Czech Republic: -$337.5 million
- Belarus: -$312.6 million
Among Lithuania’s trading partners that cause the greatest negative trade balances, Lithuanian deficits with Kazakhstan (up 275.5%), Finland (up 109.2%) and mainland China (up 61.9%) grew at the fastest pace from 2020 to 2021.
In addition, Russia went from generating a $1.6 billion surplus in 2020 to post the above trade deficit. Similarly, Lithuanian trade with Belarus resulted in a $234.3 million surplus one year ago in 2020 but ended in the red as shown above for 2021.
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.
- United States: US$1.4 billion (country-specific trade surplus in 2021)
- United Kingdom: $1.2 billion
- Ukraine: $1 billion
- Norway: $861.2 million
- Estonia: $490.7 million
- Latvia: $406.9 million
- Denmark: $319.7 million
- Turkey: $292.3 million
- Singapore: $285.3 million
- Nigeria: $254 million
Among Lithuania’s trading partners that generate the greatest positive trade balances, Lithuanian surpluses with Singapore (up 261.4%), United Kingdom (up 132.7%) and Turkey (up 68.8%) grew at the fastest pace from 2020 to 2021.
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
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on March 30, 2022
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 30, 2022
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 30, 2022
International Trade Centre, Trade Map. Accessed on March 30, 2022
Investopedia, Net Importer Definition. Accessed on March 30, 2022
Wikipedia, List of Companies of Lithuania. Accessed on March 30, 2022