Growing exports to the Indo-Pacific countries are offsetting a decline in exports to China, the Foreign Ministry has said citing statistics.
“Proactive economic diplomacy and the development of a network of diplomatic missions and representatives contribute to the overall goal of diversifying trade and increasing economic resilience. The total volume of Lithuanian exports to the ten Indo-Pacific countries is already more than 4 times higher than the volume of exports to China in the first half of 2021, and is the best proof of this,” Foreign Minister Gabrielius Landsbergis said in a statement.
According to the data of Statistics Lithuania, in January-June exports of Lithuania-made goods increased by 31.1%, to 12.7 billion euros, while the country’s total exports rose by 27.4%, to 20 billion euros.
Total exports to the ten Indo-Pacific countries (Australia, Japan, India, South Korea, Singapore, Indonesia, Taiwan, Vietnam, Malaysia and Thailand) in the first half of this year increased by 56.5%, to 456.7 million euros, compared to the same time last year.
At the same time, exports to China fell by almost 87%, to 11.8 million euros.
Exports of Lithuanian origin to ten Indo-Pacific countries increased by 60.4%, to 400 million euros, in the first half of the year, more than four times higher than in the first half of the previous year to China.
The main countries importing Lithuanian-made goods were Singapore (146 million, up 2.6-fold), Australia (79.7 million, up 2.1-fold), South Korea (55 million, up by 48%) and Indonesia (8.7 million, up by 84.2%).
Exports of Lithuanian origin to Taiwan in the first half of the year grew by 30%, to 11.5 million euros. (LRT/Business World Magazine)
