Indo-Lithuanian trade in 2016 grows by almost 30%, agricultural trade continues a spectacular performance
In 2016, Lithuania’s trade with India grew by 27.4% and reached a new high score of EUR 130m (Rs. 925 crore), the government statistics agency, Statistics Lithuania, reports.
“We have come very close to crossing the symbolic threshold of Rs. 1,000 crore and hopefully will hit this target in 2017,” said the Lithuanian Embassy in New Delhi on this occasion.
Trade in agricultural commodities continued to play the pivotal role in the expansion of bilateral exchange. Thus, the export of wheat grain and green peas from Lithuania to India doubled and amounted to EUR 60.7m (Rs. 430 crore), or 70.3% of the entire exports.
Exports of high-tech knowledge-based commodities like lasers and medical devices remained at the same level and amounted to EUR 4.8m.
Other leading export commodities were plastics and articles thereof (8%), wadding, felt and other nonwovens (4%) and rough wood (2.8%). The combined growth of trade in these three categories reached 66.7%.
Lithuania’s overall exports to India grew by 70% and reached EUR 86.3m, the highest score in five years.
Meanwhile, imports from India to Lithuania last year decreased by 14% and amounted to EUR 44.5m (Rs. 316 crore). The main imported commodities were surimi (10.3%), industrial machinery (7.5%), footwear (6.4%) and tobacco (6.1%).
In 2016, India was Lithuania’s 33rd largest trade partner, up by five notches from 2015.
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