Trading Partner Portal: Lithuania
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 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 $933.5 million in 2019. 32.6% or $304 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 all making up between 11 and 9% of the total.
U.S. imports from Lithuania totaled $1 billion in 2019. 43% of the total accounted for petroleum and coal products, which totaled $473 million. Other imports from Lithuania included $184 million worth of chemicals, $123 million of furniture and fixtures, and $51 million of food manufactures.
California exported $148.5 million worth of goods to Lithuania in 20198. Used or second-hand merchandise made up 43.3% and $64 million of the total. This was followed by agricultural products at 20% and $29.7 million, chemicals at 12.6% and $18.7 million, and computer and electronic products at 7.4% and $11 million. In 2019, California was the top exporting state to Lithuania.
California imported $76.9 million worth of goods from Lithuania in 2019. 33.7% of the total was made up of chemicals, followed by 31% of furniture and fixtures, and 8.3% of non-electrical machinery.
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