MOSCOW: Russia, Latvia, and Poland were Lithuania’s top three partners in exports of goods in 2014 and Russia accounted for 21 percent of all Lithuanian exports last year, according to a report of Eurostat, statistical office of European Union.
Based on trade value, Lithuania’s share of intra-EU exports was 55%, while the EU’s average stands at 63%.
Russia with 22% was the main partner of Lithuania in imports of goods in 2014. Germany came second with 11% and Poland third with 9%. Based on trade value, Lithuania’s share of intra-EU imports was 64%, while the EU’s average was 63%.
In 2014, the United States (EUR 515.6 billion, or 15% of total EU trade in goods) and China (EUR 467.3 billion, or 14%) continued to be the two main goods trading partners of the European Union (EU), well ahead of Russia (EUR 285.1 billion, or 8%) and Switzerland (EUR 236.9 billion, or 7%).
Trends observed over recent years are however very different for these top trading partners of the EU. The share of the United States in EU total trade in goods recorded a significant and almost continuous fall, from 24% in 2002 to 15% in 2014. In contrast, the share of China has doubled, rising from 7% in 2002 to 14% in 2014. In particular, the shares of the United States and China in EU trade almost converged in 2010, before stabilising since then. The increase in the share of Russia in total EU trade in goods was less significant (from 5% in 2002 to 8% in 2014), while the share of Switzerland remained almost unchanged at 7% over the same time period.
In 2014, machinery and transport equipment, other manufactured goods and mineral fuels represented the main categories of product in EU international trade with the rest of the world. In almost all EU member-states, the main partner for exports of goods in 2014 was another member of the European Union, except for Ireland (the United States were the main destination of exports), Greece (Turkey), Lithuania (Russia), Sweden (Norway) and the United Kingdom (the United States).
In some member-states, at least a quarter of exports were made to one single partner: Germany. This was the case in 2014 for the Czech Republic (32% of exports of goods to Germany), Austria (29%), Hungary (28%), Poland (26%) and the Netherlands (25%). Overall, Germany was the main destination of goods exports for 16 member-states and among the top 3 in 21 member-states.
For extra-EU trade, that is trade with non-EU countries, the 3 main destinations of EU exports in 2014 were the United States (18% of all extra-EU exports), China (10%) and Switzerland (8%).
In 2014, the 28 EU exported a total of EUR 4 636 billion of goods, of which EUR 2 934 billion (or 63%) were destined for another member-state of the EU (intra-EU trade).
