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 2.79 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 $1.23 billion in 2021, the largest amount in recent years. $268 million was made up of transportation equipment, while $260 million of the total was made up by used or second-hand merchandise. This was followed by oil and gas and chemicals making up $232 million and $116 million of the total, respectively.
U.S. imports from Lithuania totaled $2.06 billion in 2021. Chemicals accounted for $925 million of the total. Other imports from Lithuania included $386 million worth of petroleum and coal products, $208 million of furniture and fixtures, $85 million of computer and electronic products, and $73 million of non-electrical machinery. U.S. foreign direct investment into Lithuania totaled $182 million in 2020, while Lithuanian FDI into the U.S. totaled $7 million (BEA).
California exported $152 million worth of goods to Lithuania in 2021. Used or second-hand merchandise made up $34 million of the total. This was followed by transportation equipment at $33 million, agricultural products at $31 million, chemicals at $26 million, and computer and electronic products at $11 million.
California imported $244 million worth of goods from Lithuania in 2021. $156 million of the total was made up of chemicals, followed by $34 million of furniture and fixtures, and $11 million 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