Lithuanian exports to India jump by 311%, agricultural trade – the main driving force
In 2015, Lithuanian exports to India grew by 311.4% and reached a record-high EUR 50.9m (Rs. 385 crore), the government statistics agency, Statistics Lithuania, reports.
Trade in green peas has been the largest contributor to this exceptional growth. Thus, Lithuanian export of green peas to India reached EUR 28.3m (Rs. 214 crore) and constituted 55.5% of the entire exports.
Trade in high-tech commodities like lasers and medical devices has been traditionally high and amounted to 10.1% of the entire exports.
Other leading export commodities were: wadding, felt and other nonwovens (7.6%); copper and articles thereof (6.2%); plastics and articles thereof (4.6%); rough wood (2.9%). These commodities have entered the bilateral trade only recently but have quickly established themselves at the top of the trade list.
Meanwhile, imports from India to Lithuania last year increased by 13.7% and amounted to EUR 51.7m (INR 392 crore). The main imported commodities were: lac (14.5%), prepared animal fodder (11.7%), iron and steel (5.7%) and pharmaceuticals (5.4%).
The total trade turnover in 2015 was EUR 102.6m (INR 777 crore), or 66% more than in 2014.
India was Lithuania’s 38th largest trade partner in 2015, up by 5 notches in comparison to 2014.
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