Lithuania depends heavily on trade, particularly with other republics of the former Soviet Union. In 2000, total imports were valued at $5.5 billion, and exports at $3.8 billion. In the mid-to-late 1990s, Lithuania was trading more with Western nations, and reducing its reliance on trade with former Soviet republics. Trade with the West increased from 15% to 60% between 1990 and 1995, while trade with former Soviet republics fell from 78% in 1990 to 40% in 1995. Since Lithuania's independence in 1990, growing disruptions in trade with Russia and the other former Soviet republics have resulted in a steep decline in import volumes and numerous domestic shortages.
Refined petroleum products make up Lithuania's most beneficial export commodity (18%), followed by fertilizers(5.1%) and furniture (3.5%). Other export commodities include wood (2.9%), transistors (3.3%), and automobiles (2.7%).
In 2000 Lithuania's imports were distributed among the following categories:
Consumer goods | 12.5% |
Food | 8.5% |
Fuels | 21.7% |
Industrial supplies | 30.3% |
Machinery | 14.6% |
Transportation | 9.3% |
Other | 3.1% |
Principal trading partners in 2000 (in millions of US dollars) were as follows:
COUNTRY | EXPORTS | IMPORTS | BALANCE |
Latvia | 572 | 213 | 359 |
Germany | 546 | 926 | -380 |
United Kingdom | 297 | 233 | 64 |
Russia | 271 | 1,457 | -1,186 |
Poland | 208 | 343 | -135 |
Denmark | 186 | 229 | -43 |
Netherlands | 183 | 195 | -12 |
Ukraine | 168 | 78 | 90 |
France | 167 | 164 | 3 |
Belarus | 111 | 99 | 12 |
Comment about this article, ask questions, or add new information about this topic: