Lithuania Export Data: The Trade Analysis of 2024

Lithuania, a country located in northern Europe on the southeastern coast of the Baltic Sea, surrounded by Latvia, Poland, and Belarus in the north, east-and-south direction, is emerging as a thriving exporter of global essentials in the international trade market. Lithuania Import Data says the strategic manufacturing upgradation of the industrial unit and the automation of the electronics industry fuelled up the revenue rate. The highly skilled workforce and strong FinTech ICT growth with a well-educated population, proficient in English, have provided a robust foundation for the export-driven sector. The modern infrastructure and strategic trade position have led to diversification while enabling efficient logistics and energy security for exporters.

The hike in the global demand for different essentials from the management firms of Lithuania has recorded an increase of 5.4% in export services, resulting in an export trade value of 42 billion US dollars in 2024. Recent trade statistics have reported that the export-to-GDP ratio of Lithuania stood at a rate of 47% in 2024. Import Globals with its Lithuania trade data gives a brief statistical overview of the year-by-trade increase in Lithuania’s exports, catering to the needs of the business holders, by preferring which they can get an upward trajectory in their future trade growth.

GOVERNMENT INITIATIVES SUPPORTING THE EXPORT MARKET OF LITHUANIA IN 2024

The government initiatives implemented by the authorities of Lithuania collectively work to strengthen the export infrastructure from production capacity and market diversification. The Enterprise Lithuania Export Support Network, implemented under the Ministry of Economy, Enterprise Lithuania, is structured to offer exporters comprehensive support, including trade mission coordination and a database of the country’s exporters to connect with foreign buyers. The initiative has enabled small and medium enterprises to explore and access new markets reliably. The Free Economic Zones, initiated by the authorities, have been offering tax incentives like 0% corporate tax for up to 10 years, such as rail links and utilities.

The utmost aim of the initiative is to attract foreign investors in the wood, energy, and manufacturing sectors while enhancing production capacity. The New Opportunities Ltd. and Expo Certificate Ltd., under the Ministry of Economy’s Innovation Agency, have offered market entry assistance with participation in exhibitions, enabling Lithuanian businesses to penetrate new regions like South America and Australia to expand their services.

THE LEADING VARIANTS OF GOODS EXPORTED FROM LITHUANIA IN 2024

The diversification in the export portfolio of Lithuania is facilitated by the overall contribution of industrial productions and management firms and strategic alignment with international standards. According to the Lithuania Export Data, the top 10 leading variants of goods exported from the nation in 2024 are,

  1. Mineral fuels — The export trade value of Mineral fuels from Lithuania in 2024–13 billion US dollars
  2. Electronic equipment — The export trade value of Electronic equipment from Lithuania in 2024–9 billion US dollars
  3. Furniture — The export trade value of Furniture from Lithuania in 2024–8 billion US dollars
  4. Vehicles- The export trade value of Vehicles from Lithuania in 2024–7.5 billion US dollars
  5. Plastic products — The export trade value of Plastic products from Lithuania in 2024–6.2 billion US dollars
  6. Machinery- The export trade value of Machinery from Lithuania in 2024–4.76 billion US dollars
  7. Wood and wood articles- The export trade value of Wood and wood articles from Lithuania in 2024–3.24 billion US dollars
  8. Pharmaceutical products — The export trade value of Pharmaceutical products from Lithuania in 2024–2.78 billion US dollars
  9. Optical and medical instruments — The export trade value of Optical and medical instruments from Lithuania in 2024–1.64 billion US dollars
  10. Miscellaneous chemical products — The export trade value of Miscellaneous chemical products from Lithuania in 2024–1.2 billion US dollars

THE TOP 10 EXPORT TRADE PARTNERS OF LITHUANIA IN 2024

The valuable pricing strategies on specific categories offered by the trade authorities of Lithuania have contributed to stronger bilateral relationships with emerging markets. According to the Lithuania Customs Data, the top 10 export trade partners of the nation in 2024 are,

  1. Latvia — The annual valuation of goods exported from Lithuania to Latvia in 2024–12.13 billion US dollars

Top 5 variants of goods exported

1. Refined petroleum products

2. Crude petroleum

3. Natural gas (gaseous state)

4. Motor vehicles (cars)

5. Vehicle parts

2. Poland- The annual valuation of goods exported from Lithuania to Poland in 2024–8.98 billion US dollars

Top 5 variants of goods exported

1. Furniture (various types)

2. Beds and mattresses

3. Lighting fixtures

4. Prefabricated buildings

5. Telephones

3. Germany — The annual valuation of goods exported from Lithuania to Germany in 2024–7.65 billion US dollars

Top 5 variants of goods exported

1. Insulated wire & cable

2. Computers

3. Printers

4. Data storage units

5. Telecommunication systems

4. Netherlands — The annual valuation of goods exported from Lithuania to the Netherlands in 2024–6.54 billion US dollars

Top 5 variants of goods exported

1. Electrical motors

2. Circuit breakers

3. Industrial machinery

4. Boilers

5. Nuclear reactor components

5. Estonia- The annual valuation of goods exported from Lithuania to Estonia in 2024–5.42 billion US dollars

Top 5 variants of goods exported

1. Wood panels

2. Wood charcoal

3. Plywood products

4. Diagnostic laboratory reagents

5. Medicaments in measured doses

6. United States — The annual valuation of goods exported from Lithuania to the United States in 2024–4.68 billion US dollars

Top 5 variants of goods exported

1. Pharmaceutical products

2. Wheat

3. Spelt/meslin (mixed wheat)

4. Cereals in general

5. Nitrogenous fertilizers

7. Sweden- The annual valuation of goods exported from Lithuania to Sweden in 2024–3.42 billion US dollars

Top 5 variants of goods exported

1. Wine

2. Beer

3. Vodka

4. Brandy

5. Bitters & liqueurs

8. United Kingdom — The annual valuation of goods exported from Lithuania to the United Kingdom in 2024–2.68 billion US dollars

Top 5 variants of goods exported

1. Curd cheese

2. Glazed quark bars

3. Other dairy products, eggs, honey

4. Processed fish

5. Seafood preparations

9. France- The annual valuation of goods exported from Lithuania to France in 2024–1.86 billion US dollars

Top 5 variants of goods exported

1. Paperboard

2. Activated carbon products

3. Construction of stone wool

4. Iron & steel scrap

5. Rolled steel products

10. Ukraine — The annual valuation of goods exported from Lithuania to Ukraine in 2024–1.24 billion US dollars

Top 5 variants of goods exported

1. Gas turbine parts

2. Refrigeration units

3. Air conditioning equipment

4. Heating elements and radiators

5. Lifting machinery

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