Lithuania's trade deficit declined to EUR 137.6 million in November of 2018 from EUR 159.5 million in the corresponding month of the previous year. Imports rose 5.4 percent to EUR 2,790 million, mainly due to higher purchases of organic chemicals (43.4 percent); machinery and mechanical appliance, parts thereof (5.2 percent), and fish and crustaceans (31.3 percent). Meantime, exports advanced at a faster 6.6 percent to EUR 2,653 million, boosted by sales of petroleum products (9.8 percent); tobacco and processed tobacco substitutes (61.4 percent), and plastics and articles thereof (18 percent). Balance of Trade in Lithuania averaged -195.80 EUR Million from 1994 until 2018, reaching an all time high of 69.20 EUR Million in August of 1994 and a record low of -597.50 EUR Million in March of 2008.
Balance of Trade in Lithuania is expected to be -30.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Lithuania to stand at -267.22 in 12 months time. In the long-term, the Lithuania Balance of Trade is projected to trend around -40.00 EUR Million in 2020, according to our econometric models.