Lithuania exports to 10 Indo-Pacific countries more than twice as much as China

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Lithuania exports to 10 Indo-Pacific countries more than twice as much as China

The Lithuanian government has been able to diversify trade and increase economic resilience because of the proactive economic diplomacy and expansion of the network of diplomatic missions. The total exports of Lithuanian products to ten Indo-Pacific countries more than four times exceeded the volume of exports to China in the first half of 2021, and is proof that our efforts are working, says the Minister for Foreign Affairs of Lithuania, Gabrielius Landsbergis.

Lithuania's exports of goods of Lithuanian origin reached EUR 12.7 billion between January and June 2022, and increased by 31.1% compared to the corresponding period of 2021, according to the Department of Statistics. Lithuania's total exports increased by 27.4% over the same period and reached EUR 20 billion.

The trend in exports to the Indo-Pacific is particularly encouraging. Lithuanian business exports to the 10 Indo-Pacific countries amount to at least 63% more than their exports to China every year, although the GDP of these ten countries is below China's GDP. In the first half of 2022, total exports to these 10 Indo-Pacific countries increased by 56.5% compared to 2021, from EUR 297.6 million to EUR 456.7 million. Exports to China decreased by almost 87% in the first half of 2022, to EUR 11.8 million.

It is exceptional because of the fact that exports of goods of Lithuanian origin increased by 99% to this country. Estonia is followed by Norway 6.8% and Denmark 28.4%.