That dollar amount results from a 28.6% increase gain compared to $33.2 billion 5 years earlier during 2019.
Year over year, the total value of Lithuanian exports dropped -8.3% starting from $46.5 billion in 2022.
The 5 biggest importers of exported products from Lithuania are Latvia, Poland, Germany, Netherlands and Estonia. Collectively, that quintet of leading customers generated nearly four-fifths (39.2%) of total export revenues collected by Lithuania in 2023.
Applying a continental lens, over four-fifths (81.6%) of Lithuania’s exports by value was delivered to fellow European countries while 9.4% was sold to importers located in Asia. Lithuania shipped another 5.3% worth of products to customers in North America.
Lithuania joined the European Union on May 1, 2004. Fellow EU member states bought 60.8% of overall Lithuanian export sales.
Lesser percentages went to buyers in Africa (2.8%), Latin America (0.6%) excluding Mexico but including the Caribbean, then Oceania (0.3%) 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 2023. Also shown is each import country’s percentage of total Lithuanian exports.
- Latvia: US$4.6 billion (10.8% of Lithuania’s total exports)
- Poland: $3.9 billion (9.3%)
- Germany: $3.3 billion (7.8%)
- Netherlands: $2.5 billion (5.9%)
- Estonia: $2.32 billion (5.5%)
- Russia: $2.32 billion (5.4%)
- United States: $2.0 billion (4.8%)
- Belarus: $1.8 billion (4.3%)
- Sweden: $1.7 billion (4.0%)
- United Kingdom: $1.6 billion (3.8%)
- Ukraine: $1.3 billion (3.1%)
- France: $1.1 billion (2.6%)
- Norway: $1.06 billion (2.5%)
- Denmark: $975.9 million (2.3%)
- Italy: $924.7 million (2.2%)
- Finland: $818.1 million (1.9%)
- Kazakhstan: $745.5 million (1.7%)
- Spain: $621.1 million (1.5%)
- Türkiye: $593.8 million (1.4%)
- Belgium: $541.4 million (1.3%)
- Czech Republic: $498.6 million (1.2%)
- Kyrgyzstan: $418.2 million (1.0%)
- Austria: $343.2 million (0.8%)
- Uzbekistan: $329.2 million (0.8%)
- Nigeria: $307.8 million (0.7%)
Almost nine-tenths (86.4%) of Lithuanian exports in 2023 was delivered to the above 25 trade partners.
Double-digit percentage increases among Lithuania’s top import customers from 2022 to 2023 were recorded by buyers in: Kyrgyzstan (up 25.7%), Belarus (up 22.4%) and Ukraine (up 12.1%).
The greatest year-over-year declines belonged to Belgium (down -23.4% from 2022), Latvia (down -23%), Russia (down -19.5%), United States of America (down -17.3%) and Kazakhstan (down -16.8%).
Countries Causing Greatest Trade Deficits for Lithuania
Lithuania incurred a total -US$5.8 billion trade deficit for 2023, reducing by -32.7% from the -$8.6 billion in red ink one year prior during 2022.
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$3.4 billion (country-specific trade deficit in 2023)
- Poland: -$2.5 billion
- Saudi Arabia: -$2.1 billion
- mainland China: -$1.7 billion
- Norway: -$1.4 billion
- United States of America: -$1.1 billion
- Italy: -$980.7 million
- Belgium: -$540 million
- Czech Republic: -$505.9 million
- France: -$461.9 million
Among Lithuania’s trading partners that cause the greatest negative trade balances, Lithuanian deficits with France (up 29.2%), Belgium (up 28.7%) and Germany (up 24%) grew at the fastest pace from 2022 to 2023.
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 at expense of the following countries.
- Russia: US$2 billion (country-specific trade surplus in 2023)
- Belarus: $1.5 billion
- Ukraine: $795.8 million
- United Kingdom: $704.4 million
- Latvia: $641.5 million
- Kazakhstan: $602.6 million
- Estonia: $452 million
- Kyrgyzstan: $414.9 million
- Nigeria: $249.8 million
- Denmark: $224.6 million
Among Lithuania’s trading partners that generate the greatest positive trade balances, Lithuanian surpluses with Russia (up 4,504%), United Kingdom (up 454.4%) and Belarus (up 125.1%) grew at the fastest pace from 2022 to 2023.
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 November 20, 2024
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on November 20, 2024
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on November 20, 2024
International Trade Centre, Trade Map. Accessed on November 20, 2024
Investopedia, Net Importer Definition. Accessed on November 20, 2024
Wikipedia, List of Companies of Lithuania. Accessed on November 20, 2024