Lithuania Imports&Exports - Global Trade Data | Tendata

tendata blogTrade Data

ten data blog04-12-2023

lithuania import,lithuania export,lithuania import export



Imports

Lithuania's purchases of imported products in 2022 totaled $54.9 billion. Compared to $44.6 billion in 2021, Lithuania's exports increased by 23.3%.



Main Suppliers of Lithuanian Imports

The latest country-specific data shows that Lithuania's imports were supplied mainly by exporters from Germany (35.6% of Lithuania's global total), Poland (7.5%), Latvia (5.2%), the US (5.1%), Sweden (4%), Russia (2.8%), Norway (2.7%), the Netherlands (2.2%), Saudi Arabia (2.2%), Mainland China (1.8%), Italy (1.7%) and Estonia (1.3%).



Lithuania's Top 10 Imports

1. Mineral fuels including oil: $15.4 billion (28% of total imports)

2. Vehicles: $4.7 billion (8.6%)

3. Machinery including computers: $4.2 billion (7.6%)

4. Motors, equipment: $3.9 billion (7.1%)

5. Plastics, plastic products: $2.3 billion (4.2%)

6. Pharmaceuticals: $1.6 billion (2.9%)

7. Iron and steel: $1.4 billion (2.6%)

8. Wood: $1.242 billion (2.3%)

9. Organic chemicals: $1.241 billion (2.3%)

10. Iron and steel products: $1.1 billion (2%)


Lithuania's fastest year-on-year growth in fossil fuel imports among these major categories included oil (up 109.1% from 2021), organic chemicals (up 34.1%) and automobiles (up 18.5%).


The worst year-over-year decline was a -4.9 percent drop in the machinery products category, which includes computers.


At the more granular 4-digit HS code level, Lithuania's most valuable imports included crude oil (11.3% of the total), LPG (9.5%), electricity (4.6%), automobiles (3.3%), drug mixture doses (2.1%), processed petroleum (also 2.1%), tractors (1.8%), telephony equipment, including smartphones (1.5%), poly carboxylic acids (1.2%) and computers including optical readers (1%).



Exports

Lithuania exported $46.3 billion worth of products to the world in 2022. The total value of Lithuania's exports increased by 13.5% from $40.8 billion in 2021.



Best Trading Partners for Purchasing Lithuanian Exports

The latest country-specific data shows that the main share of Lithuania's exports is purchased by importers from Latvia (12.8% of Lithuania's total), Poland (9%), Germany (7.9%), Russia (6.2%), Estonia (5.7%), the Netherlands (5.45%), the United States of America (5.37%), Sweden (4.1%), the UK (3.5%), Belarus (3.5%), and the United Kingdom (3.5%). 3.5%), Belarus (3.2%), Ukraine (2.6%) and Norway (2.5%).



Lithuania's Top 10 Exports

1. Mineral fuels including oil: $8 billion (17.2% of total exports)

2. Furniture, bedding, lighting, signs, prefabricated buildings: $3.5 billion (7.6%)

3. Vehicles: $2.9 billion (6.2%)

4. Plastics, plastic products: $2.8 billion (6%)

5. Machinery, including computers: $2.7 billion (5.8%)

6. Motors, equipment: $2.6 billion (5.7%)

7. Wood: $1.9 billion (4.2%)

8. Other chemicals: $1.4 billion (3%)

9. Fertilizer: $1.3 billion (2.9%)

10. Iron and steel products: $1.2 billion (2.5%)


Lithuania's top 10 exports accounted for 60.9% of its total global exports.


Mineral fuels, including oil, were the fastest growing of the top 10 export categories, up 92.8% since 2021. The second highest improvement in export sales was automobiles, up 31.9%, with exports of Indonesian cars leading the way. Lithuania's exports of plastic materials and plastic products ranked third in terms of volume growth, up 11.3% year-on-year.


The largest drop among Lithuania's top 10 export categories was in the miscellaneous chemicals category, down -19.8%.


At the detailed 4-digit HS code level, Lithuania's 10 most valuable exports were processed petroleum (11.7% of Lithuania's total), miscellaneous furniture (4.7%), liquefied petroleum gas (3.1%), automobiles (2.4%), wheat (2.2%), nitrogenous fertilizers (2%), polyacetal ether carbonate (1.9%), cigars, cigarillos, or cigarettes (1.9%), and various diagnostic and laboratory reagents (1.6%), and dose mixing drugs (1.5%).




Customs data contains a vast amount of information, and extracting relevant customer contact information can be time-consuming, with results not always meeting expectations. Is it truly the case, or is it because customs data is being used incorrectly, resulting in wasted effort and time?


Utilizing customs data for customer development can be achieved by precisely characterizing all buyers and their procurement systems in the target market. This allows for the quick identification of the most compatible customers, discerning their credit systems and procurement information, determining high-quality customers and profit margins, enhancing development efficiency, and improving overall effectiveness.


In customs data, one can observe the suppliers of buyers. Some of these suppliers are trade companies and also potential customers. In-depth analysis can be conducted on these trade companies, and key customers can be selected for focused development. Information such as buyer contacts, trade partners, procurement cycles, and purchase volumes can be obtained. While customs data may lack contact information due to being derived from bill of lading information, Tendata iTrader provides not only customs data but also business and internet data. This allows for the direct extraction of contact information and positions based on buyer names, making customer development through customs data seamless. (>>> Click To Get Free Access To Customs Data From 80+ Countries)


For new customer development using customs data, three strategies are available for consideration. (>>> Click To Get Free Access To Customs Data From 80+ Countries)



1. Establishing a Customer Database by Country: 

Building a customer database is akin to maintaining a work record. Start by using trade tracking features to compile a list of all customers in a country. Analyze each buyer's purchase volume, procurement cycle, product specifications, and supplier system. Finally, filter out 30% of the potential high-quality customers from this country and record them in your customer database, allowing flexible settings by country, time, customer name, follow-up steps, contact phone, email, contact person, etc. (>>> Click For Free Customer Development)



2. Establishing a Customer Database by Peer Companies: 

Have a clear understanding of the English names of peer companies (including full names, abbreviations, etc.). Use the global supplier network feature to gather all customers of these peers in the system. Analyze these customers based on purchase volume, procurement cycle, and product models. Finally, filter out key customers from your targeted peers and record them in your customer database. (>>> Click For Free Trial Application)



3. Identifying Newly Appeared Customers in Each Country: 

Utilize the trade search function to select a country, set date ranges, limit product names or customs codes, and check "latest." The search results will display high-quality customers that have recently appeared in that country during the specified time period. Since these customers are newly emerging, they may have unstable supplier relationships, requiring focused follow-up. Record these new potential buyers in your customer database. (>>> Click For Free Trial Application)


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These three approaches for customer development using customs data can be implemented based on the actual needs of the company. Considering market conditions, industry characteristics, strategic requirements, etc., find a method that suits your preferences. The ultimate goal is to establish and organize a categorized archive of high-quality customers. Once suitable customers are identified, the next step is to make precise contact through various channels such as phone calls, email communication, online chat, etc.


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