Macroeconomic Forecast LithuaniaJanuary 2012 | Macroeconomic Forecasts
Growth in exports throughout the majority of 2011 was almost evenly matched by growth in imports, which has seen a continued widening of Lithuania's trade in goods gap to EUR1.45bn in the first 11 months of the year. Exports rose 30.9% year-on-year (y-o-y) over the January-November period, reaching EUR18.43bn, while imports grew by an equally robust rate of 30.3% y-o-y over the same period to EUR19.88bn. The high reliance on capital goods imports to sustain Lithuania's export growth throughout 2010 and 2011 has helped to push the country's current account back into deficit, and we are currently pencilling in a current account shortfall of 1.1% of GDP 2012.
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