Indonesia's Trade Balance with Lithuania Shows a US$14.28 Million Deficit

Indonesia's trade balance with Lithuania recorded a deficit of US$14.28 million in 2020. This trade deficit decreased by 47.68% compared to the previous year's deficit of US$ -27.29 million.

This improvement in the trade balance, according to Trademap data, was supported by Indonesia's export value, which reached US$13.98 million. However, Indonesia's imports from Lithuania in 2020 were higher than exports, reaching US$28.26 million.

Indonesia's exports to Lithuania have been declining over the past year. The previous year's export value was US$19.02 million.

Imports, according to Trademap data, decreased by 38.98% compared to the previous year's figure of US$46.32 million.

Based on product type, 10 main export products from Indonesia to Lithuania recorded a surplus in 2020. The total value of these main exports reached US$2.56 million.

List of 10 Main Indonesian Export Products to Lithuania

1. (HS 03): Fish and crustaceans, molluscs and other aquatic invertebrates


2. (HS 05): Products of animal origin, not elsewhere specified or included


3. (HS 08): Edible fruits and nuts; peel of citrus fruit or melons


4. (HS 09): Coffee, tea, maté and spices


5. (HS 13): Lac; gums, resins, and other vegetable saps and extracts


6. (HS 15): Vegetable fats and oils and their cleavage products; edible fats; animal or vegetable fats


7. (HS 16): Preparations of meat, fish or crustaceans, molluscs or other aquatic invertebrates


8. (HS 17): Sugars and sugar confectionery


9. (HS 18): Cocoa and cocoa preparations


10. (HS 19): Preparations of cereals, flour, starch or milk; pastrycooks' products

Globally, the trade balance for all goods improved due to an increase in several product types. Indonesia's total trade balance was recorded at US$21.68 billion, an increase of 703.56%. In other words, Indonesia recorded a trade surplus. The previous year's trade balance with all countries worldwide was recorded at US$ -3.59 billion.