Foreign trade deficit of Lithuania down 8.9% in Jan-Nov 08

Statistics Lithuania reports that according to non-final data obtained from customs declarations and Intrastat reporting data, exports in January–November 2008 totalled LTL 51.9 billion in terms of commodity value, while imports to Lithuania equalled LTL 67.3 billion. The foreign trade deficit of Lithuania made LTL 15.4 billion and was by 8.9% lower than during the same period in 2007. Data on trade with EU countries were adjusted after VAT declarations’ data had been received.

 

In January–November 2008 against January–November 2007, exports and imports increased by 31.3 and 19.3% respectively, mineral products excluded, exports increased by 13.0, imports – by 0.4%. Exports of goods of Lithuanian origin in January–November 2008 against January–November 2007, grew by 34.5%; mineral products excluded – by 6.3%.

The major impact on the growth of exports was made by the increase in exports of petroleum oils and oils obtained from bituminous minerals (2.7 times), fertilisers (by 82.7%), cereals (2.2 times). Imports grew due to the increasing imports of crude petroleum and natural gas (2.6 times), natural calcium phosphates and crude sulphur (3.7 times), railway or tramway locomotives, rolling stock and parts thereof (3.4 times), fertilisers (2 times).

In November 2008 against October, each exports and imports decreased by 12.8%; seasonally adjusted exports and imports decreased by 8.0 and 19.9% respectively.

In November 2008 against November 2007, exports increased by 17.2, while imports decreased by 7.2%; mineral products excluded, exports and imports decreased by 5.8 and 23.3% respectively.

In January–November 2008, the most important partners in exports were Russia (15.8%), Latvia (11.6%), Germany (7.2%) and Poland (5.8%). The most significant partners in imports were Russia (30.5%), Germany (11.7%), Poland (10.1%) and Latvia (5.2%).

In January–November 2008, the most significant share in exports fell within mineral products (25.4%), machinery and mechanical appliances, electrical equipment (10.6%), products of the chemical or allied industries (9.8%). The most significant share in imports fell within mineral products (30.1%), machinery and mechanical appliances, electrical equipment (14.3%), and vehicles, aircraft, vessels and associated transport equipment (12.2%).

 

Source: http://www.baltic-course.com