FX.co ★ Lithuania Trade Deficit Largest Since 2023

Lithuania experienced a significant widening of its trade deficit, reaching EUR 0.665 billion in March 2025, up from EUR 0.286 billion in the same month of the prior year. This represents the largest trade shortfall since July 2023. Imports surged by 16.8% year-on-year to hit a two-year peak of EUR 3.914 billion. This increase was driven predominantly by higher acquisitions of mineral fuels, mineral oils & distillation products, which rose by 39.5%, and ground vehicles, which increased by 36.6%. Among Lithuania's trading partners, imports from Poland grew by 13.1%, Germany by 12.4%, and Latvia by 8%. Conversely, exports rose at a more moderate rate of 6% from the previous year, reaching a six-month high of EUR 3.248 billion, largely due to increased sales of fertilizers, which skyrocketed by 66.6%, and mineral fuels, mineral oils & distillation products, up by 37%. Latvia (11.9%), Poland (10.6%), and Germany (8.7%) were the primary export destinations. Over the first quarter, Lithuania reported a trade deficit of EUR 1.577 billion, with exports rising slightly by 1.9% and imports increasing by 9.5%.