News

In the first half of 2015, as compared to the same period last year, Lithuania's exports to India grew by 15% and amounted to EUR 9.7 million, Statistics Lithuania reports.

The main export commodities included: copper and articles thereof (23.1%), electrical machinery and equipment (14.5%), plastics and articles thereof (9.9%), optical, measuring, precision, and medical instruments (8.9%), wadding, felt and nonwovens (8.4%).

Copper and its articles have for the first time emerged as Lithuania’s number one export commodity to India. The export in this product category grew by more than 20 times, as compared to the same period last year.

Rapid increase in trade was also recorded in such commodity groups as plastics and articles thereof (8.5 times), wadding, felt and nonwovens (8.1 times), wood and articles of wood (1.6 times).

However, Lithuania’s exports in the traditionally dominant commodity groups like lasers and medical equipment dropped by 39.1%, signaling a possible change in the established bilateral trade structure.

At the same time, the volume of exports of spare parts for lasers has not changed and constituted EUR 1.04 million, or 10.7% of the total exports.

In total, Lithuania’s exports to India in the first half of 2015 covered 42 product categories (as measured by EU Combined Nomenclature’s binomial classification); this number was less than 40 in the previous year.

Meanwhile, Lithuanian imports from India during the first half of 2015 grew by 11.6% and reached EUR 24.6 million.

Lac, gums and resins (27.6% of total import volume), pharmaceuticals (6.3%), iron and steel (6.2%) and footwear (5.4%) featured as the key import commodities.

In 2014, Lithuanian exports to India amounted to EUR 16.4 million, while Lithuanian imports from India stood at EUR 45.4 million. India was Lithuania’s 43rd largest export partner.