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 2.8 million people, and its capital and largest city is Vilnius. Lithuania’s GDP was $66.45 billion in 2021. 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”.
U.S. exports to Lithuania totaled $2.6 billion in 2022, 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, chemicals, and computer and electronic products.
U.S. imports from Lithuania totaled $2.58 billion in 2022. Petroleum and coal accounted for $900 million of the total. Other imports from Lithuania included $780 million worth of chemicals, $279 million of furniture and fixtures, and $96 million of computer and electronic products. U.S. foreign direct investment into Lithuania totaled $182 million in 2020, while Lithuanian FDI into the U.S. totaled $7 million (BEA).
California Trade
California exported $221 million worth of goods to Lithuania in 2022. Transportation equipment made up $71 million of the total. This was followed by Used or second-hand merchandise at $47 million, agricultural products at $42 million, chemicals at $31 million, and computer and electronic products at $11 million.
California imported $236 million worth of goods from Lithuania in 2022. $144 million of the total was made up of chemicals, followed by $46 million of furniture and fixtures, and $16 million of computers and electronic products.
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