Foreign Trade

Lithuanian exports grew by 2.6% last year, excluding oil products, despite the Russian embargo on many Lithuanian goods, with exports to Russia falling by more than 50%.

On Thursday Lithuanian Algirdas Butkevičius is leaving for a week-long official visit to India and while it should be a journey in search of new markets for Lithuanian companies, there is not a single entrepreneur accompanying the prime minister on the visit.

Russia's federal veterinary and phytosanitary supervisory authority, the Rosselkhoznadzor, has banned the import of third country fish products via Lithuania.

The first estimate for euro area exports of goods to the rest of the world in May 2015 was EUR 164.4 billion, an increase of 3 percent compared with May 2014 (EUR 160.2 bn).

Statistics Lithuania reports that, based on non-final data obtained from customs declarations, Intrastat reporting and VAT returns data, exports in May 2015 amounted to EUR 2 billion, imports - EUR 2.2 billion.

Amid deteriorating relations with Russia, Lithuania is helping businesses to look for new markets abroad, Foreign Minister Linas Linkevičius says.

According to Eurostat, the statistical office of the European Union, in January-February 2015, Lithuania's intra-EU exports of goods stood at EUR 2.1 billion, up 2 percent compared with January-February 2014. Extra-EU exports of goods stood at 1.2 billion, down 19 percent compared with January-Febru...

Against a backdrop of weak economic growth across Europe, Lithuania stands in good stead in terms of its economy. Boasting low debt and budget deficit levels, and with strong growth forecasts, the Lithuanian economy is stable and robust, mainly thanks to extensive reforms undertaken in recent years.

It should become clear in the nearest future if beef from Lithuania may be exported to Japan. Japanese experts are scheduled to visit Lithuania in early May to ascertain that Lithuanian livestock is healthy and meat is of high quality. The State Food and Veterinary Service (VMVT) started cooperating...

The Sultanate of Oman and a Vilnius-based food company Straikas have signed an agreement on exporting the Magnum brand fruit and vegetable juices to Oman, Times of Oman said.

Before starting an official visit to Turkey on Monday, Lithuania's President Dalia Grybauskaitė has said that Turkey is an important partner, since it is a fellow NATO member-state and makes decisions important for the region.

Reports in the Russian media that Moscow is deliberating to lift imports embargo on certain EU-made foodstuffs got Lithuanian producers on ears - could this be a sign of coming change?

This summer, Russia banned imports of agricultural products from the European Union countries for one year, while various sanctions on Lithuanian dairy and meat products have been applied for a long time already. Ban on Lithuanian foods, excessive customs checks on Lithuanian trucks or other market ...

Advisor to the SEB Bank president, financial analyst Gitanas Nausėda says that the impact of Russia's food product embargo on the Lithuanian economy has been greatly overstated.

Analysts at SEB Bankas estimate that Lithuania's maximum economic losses in case of Russia's complete import ban could reach up to 5 percent of the gross domestic product, noting that such losses would be quite painful.

Record-breaking Post-Panamax category containership Piera left Klaipėda Seaport on Wednesday and is heading to Iran. It was loaded with the record amount of Lithuanian export grain - the biggest in the history of Klaipėda Seaport.

Statistics Lithuania reports that, based on non-final data from customs declarations, Intrastat reporting and VAT returns data, exports in July amounted to LTL 7.4 billion (EUR 2.14 billion), while imports to LTL 8.1 billion (EUR 2.34 billion).

The European Union has been granted a panel at the World Trade Organization (WTO) to address complaints Russia's ban on EU pork imports.