Trading Partner Portal: Lithuania
Overview
Trade Overview
Lithuania is one of the Baltic states, situated along the southeastern shore of the Baltic Sea. Lithuania has a population of about 2.87 million people, and its capital and largest city is Vilnius. Lithuania’s GDP was $77.84 billion in 2023 with GDP per capita equaling $27,107. Lithuania is a member of the European Union, the Council of Europe, NATO and the OECD. The UN’s Human Development Index lists Lithuania as a “very high human development country”. World Bank
U.S. – Lithuania
U.S. exports to Lithuania totaled $2.88 billion in 2023, the largest amount in recent years. $1.05 billion was made up of oil and gas, while $426 million of the total was made up by used or second-hand merchandise. This was followed by transportation equipment ($521 million), chemicals ($145 million), and fish & other marine products ($110 million).
U.S. imports from Lithuania totaled $2.1 billion in 2023. Petroleum and coal accounted for $807 million of the total. Other imports from Lithuania included $404 million worth of chemicals, $197 million of furniture and fixtures, $118 million of computer and electronic products, and $79 million of electrical equipment, appliances and components.
California – Lithuania Trade
California exported $262 million worth of goods to Lithuania in 2023, an 18.5% increase from 2022. Used or secondhand merchandise made up $86 million of the total, with transportation equipment following at $80 million. This was followed by agricultural products ($44 million), chemicals ($18 million), chemicals ($31 million), and computer and electronic products ($11 million).
California imported $216 million worth of goods from Lithuania in 2023. $92 million of the total was made up of chemicals, followed by $37 million of petroleum and coal products. Other top import categories included, furniture and fixtures ($30 million), computers and electronic products ($16 million), and processed foods ($8 million).
FDI- Lithuania
U.S. foreign direct investment into Lithuania totaled $256 million in 2023, while Lithuanian FDI into the U.S. totaled $60 million an almost 161% rise from 2022. (BEA).
Trade Agreements
Trade Agreements and Issues
Three Seas Initiative (3SI)
The Three Seas Initiative (3SI), getting its name from the three seas that border the region, was launched in 2015 by Croatian President Kolinda Grabar-Kitarović and Polish President Andrzej Duda to promote interconnectivity on energy, infrastructure, and digitization projects in Central and Eastern Europe. There are 12 EU member states that are part of the initiative: Austria, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia. The main goal of the venture is to create a “north-south” energy and infrastructure corridor in the region. The region has a total population of 10 million and a combined GDP of about $1.7 trillion, and has emerged as a significant driver of European economic growth. (Atlantic Council)
The U.S. has committed up to $1 billion to the 3SI, adding momentum to the project and its investment fund, helping to attract international private capital to the region. The initiative has been endorsed diplomatically by the United States, Germany, and the European Union, among others.
Pompeo Pledges $1 Billion in US Support for European Energy Initiative
The Hill, February 15, 2020