Lithuania's trade deficit narrowed to EUR 154.8 million in March of 2019 from EUR 200.3 million in the corresponding month of the previous year. Imports rose 3.0 percent year-on-year to EUR 2,662.3 million, boosted by higher purchases of plastics and articles thereof (14.5 percent); pharmaceuticals products (17.6 percent), and fertilizer (47.4 percent). Exports increased at a faster 5.2 percent to EUR 2,507.5 million, driven by sales of fertilizer (41.3 percent); oil products (7.6 percent), and plastics and articles thereof (11.7 percent). Considering the first three months of the year, the trade balance recorded a EUR 512.8 billion deficit, compared with a EUR 671.7 billion gap in the same period of 2018. Balance of Trade in Lithuania averaged -195.22 EUR Million from 1994 until 2019, 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 -270.00 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 -220.00 in 12 months time. In the long-term, the Lithuania Balance of Trade is projected to trend around -200.00 EUR Million in 2020, according to our econometric models.