Lithuania’s economy continues its recovery

As of 2024, Lithuania’s economy continues its recovery, supported by diverse key sectors and strategic trade partnerships.

Key Economic Sectors 👇

Manufacturing remains a vital part of Lithuania’s economy, with a particular focus on chemicals, machinery, and electronics. Lithuania also has a strong reputation in food processing and textiles sectors.

Services contribute a significant portion to the GDP, with growing sectors including IT, finance, and tourism. The digital sector in particular has seen rapid expansion, aided by Lithuania’s favorable business environment for startups.

Agriculture is another important sector, though it has seen some challenges due to market fluctuations and climate conditions. The agricultural landscape includes products like grains, vegetables, and dairy.

Top Export Products (2023) 👇

Petroleum oils and related products (such as fuel) accounted for the largest share of exports, making up around 11.9% of the total export value.

Other significant exports include motor vehicles, furniture, pharmaceuticals, and cereals.

Lithuania also exports chemicals, including medicaments and plastics, contributing to the global supply chain in diverse industries.

Key trade partners include Germany, Poland, Latvia, the United States, and the Netherlands.

Nova Global provides businesses with dependable parcel shipping services to and from Lithuania and is also exploring opportunities in E-commerce.

*Source: https://trendeconomy.com/data/h2/Lithuania/TOTAL