Lithuania Trade Deficit Narrows In July

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

The trade deficit dropped to EUR 643.8 million in July from 909.2 million in the corresponding month last year. In June, the shortfall was EUR 720.8 million.

On an annual basis, exports surged 13.6 percent in July, and imports also logged an increase of 3.5 percent.

Shipments of mineral fuels, mineral oils, and products of their distillation alone grew 62.2 percent, and the country exported 18.3 percent more machinery and mechanical appliances and related parts.

Separate official data showed that producer price inflation climbed to 13.6 percent in August from 11.7 percent in July. Moreover, this was the highest inflation since February 2023. The price index for the manufacturing sector rose sharply by 15.6 percent from last year, and mining and quarrying prices were 6.9 percent higher.