The share of the Baltic countries’ export is growing in Europe
- Exports have been recovering from the spring trough in all the Baltic countries
- Increased net exports have softened the drop of GDP, especially in Lithuania
- Baltic countries have gained market shares of their exported goods in the EU
Exports from all the Baltic countries have risen from the trough of April and May. Goods rebounded considerably faster than services in Estonia and Latvia, whereas, in Lithuania, the decline of both export categories has lessened compared to the trough. The drop in export prices, especially prices of mineral products, has had a considerable negative impact on export turnover. Export-import ratios and net exports have increased, as imports have dropped more than exports, especially in Lithuania; this has softened the decline in GDP. Despite the recent contraction of exports, Baltic countries have gained market shares of their exported goods in the EU. However, by trade partners, the result is mixed.
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