Lithuania Trade Deficit Widens In January

(RTTNews) - Lithuania's trade deficit increased in January from a year ago as imports grew faster than exports, figures from the statistical office showed on Wednesday.

The trade deficit rose to EUR 296.1 in January from EUR 241.8 million in the corresponding month last year.

Exports climbed 2.6 percent year-over-year in January, and imports advanced by 4.0 percent. The increase in imports was largely driven by more inflows of electrical machinery and equipment and parts thereof and organic chemicals.

On a monthly basis, exports jumped 19.9 percent, while imports rose only by 5.0 percent. The monthly surge in exports was influenced by an increase in mineral fuels, mineral oils and products of their distillation, cereals, and plastics and articles thereof.

Separate official data showed that producer prices dropped 0.7 percent annually in January, slower than the 1.5 percent decrease in December. Prices have been falling since August last year. Domestic market prices fell 1.6 percent, while those in the foreign market remained flat compared to last year.