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 2.78 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 $1 billion in 2020, an increase from $933 million in 2019 and the largest amount in recent years. 25.8% or $262 million of the total was made up by used or second-hand merchandise. This was followed by oil and gas, transportation equipment, and chemicals, makin gup 21.1%, 12.2%, and 8.8% of the total, respectively.
U.S. imports from Lithuania totaled $1.3 billion in 2020. 42.8% of the total accounted for chemicals, which totaled $573.5 million. Other imports from Lithuania included $237 million worth of petroleum and coal products, $126 million of furniture and fixtures, and $65.5 million of non-electrical machinery. U.S. foreign direct investment into Lithuania totaled $171 million in 2019 (BEA).
California exported $137.5 million worth of goods to Lithuania in 2020. Used or second-hand merchandise made up 38% and $52 million of the total. This was followed by agricultural products at 22% and $30.2 million, chemicals at 12.2% and $16.8 million, and transportation equipment at 12.1% and $16.6 million.
California imported $227 million worth of goods from Lithuania in 2020, the highest in recent years due to an increase in chemical exports. 63.5% of the total was made up of chemicals, followed by 10.7% of furniture and fixtures, and 7.7% of petroleum and coal products.
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