STARTUP ECOSYSTEM
Lithuania Export/Import Ratio
Export/Import Ratio in Lithuania
Lithuania’s trade in technology products showcases both its strong export capabilities and a notable reliance on imports, revealing critical trends in its technology sector and trade balance.
Strong Export performance in technology products
Lithuania has proven its competitiveness in global technology markets, particularly in machinery and electrical sectors. In 2023, electrical machinery and equipment were the country’s top export, valued at $3.1 billion, a testament to Lithuania’s strength in the electronics and tech hardware industries. This category alone highlights Lithuania’s role as a significant exporter in high-tech manufacturing, especially in the rapidly evolving global electronics market.
Furthermore, machinery, including computers, followed closely, with exports totaling $2.5 billion. This accounted for approximately 5.9% of Lithuania’s total exports, underscoring Lithuania’s prominence in sectors such as IT hardware and industrial automation. This robust export performance reflects Lithuania’s growing position in global supply chains, particularly for high-value technology products.
Dependence on technology Imports
Despite these export successes, Lithuania continues to exhibit a substantial dependency on foreign technology products, particularly in machinery and electrical equipment. In 2023, the country imported $4.18 billion worth of electrical machinery, representing 8.63% of total imports. This reliance suggests a gap in domestic production capabilities, particularly in advanced electronics and components, which Lithuania needs to sustain its manufacturing sectors.
In addition, machinery, including computers, amounted to $2.51 billion in imports, equating to 5.9% of total imports. This highlights the ongoing demand for high-tech machinery, essential for industries such as manufacturing, digital infrastructure, and automation, where domestic production is still insufficient to meet the demand.
Trade deficits in key technology sectors
Lithuania faces notable trade deficits in key technology sectors, which further illustrate the challenges in balancing exports and imports. In electrical machinery, the country recorded a $1.1 billion deficit, as imports significantly outpaced exports. Similarly, the machinery sector saw a $1.6 billion deficit, emphasising the imbalance between Lithuania’s technological imports and exports.
Sources: TrendEconomy, World’s Top Exports.
In addition, the overall trade balance of goods for Lithuania in 2023 reflected a trade deficit of around $5.8 billion, as reported by Statista. This further emphasises the challenges Lithuania faces in balancing its imports and exports, particularly in the technology sector.
Source: Statista 2024.
While Lithuania has a strong export performance in technology products, particularly in machinery and electrical sectors, its trade balance reveals a need for greater domestic production, especially in advanced technology areas. Bridging these trade deficits through innovation and strategic investments could strengthen Lithuania’s position as a key player in global technology manufacturing and help balance its trade account.
Further insights on Lithuania’s technology trade
Lithuania Funding volume
Lithuania’s venture capital ecosystem continues to establish itself as a driving force in the Central and Eastern European (CEE) region, attracting substantial investments despite global economic challenges. The year 2023 saw an impressive array of funding activities, further highlighting the country’s ability to nurture and attract high-growth startups.
Lithuania Investment in key sectors
Lithuania’s economic progress is deeply intertwined with its strategic focus on technology and education. Both sectors attract robust public and private investments, fostering innovation, workforce development, and global competitiveness.
Lithuania Innovation index
Lithuania is making consistent strides in innovation, as evidenced by its performance in the Global Innovation Index (GII) and the country’s growing focus on research and development (R&D). While challenges remain, Lithuania’s upward trajectory signals a commitment to fostering a knowledge-based economy.
Lithuania Export/Import Ratio
Lithuania’s trade in technology products showcases both its strong export capabilities and a notable reliance on imports, revealing critical trends in its technology sector and trade balance.
Lithuania Startup density
Lithuania’s startup ecosystem is rapidly growing, positioning itself as a major player in the Baltic region and Central and Eastern Europe (CEE). The country’s dynamic business environment, coupled with robust support for innovation, has led to significant growth in the number of startups and the overall ecosystem value. This section provides insights into Lithuania’s global and regional startup rankings, the total number of startups, and the valuation of the ecosystem, showcasing why it is an attractive destination for entrepreneurs and investors alike.
