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. Last Updated: 07/27/2016

Lithuanian Exports to Russia Falls

VILNIUS, Lithuania -- Lithuanian exports to Russia over the first 10 months were down by two-thirds, year-on-year, as the Baltic nation's once dominant trade partner continues to lose influence over the economy.

The Lithuanian statistics department on Wednesday released January-October data showing exports to Russia fell 66.6 percent over the previous year, while imports were off by 20.8 percent.

It added that Lithuania's foreign trade deficit with Russia was 2.548 billion litas ($637 million) for the 10-month period, with total exports at 742.5 million litas and imports at 3.3 billion litas.

Accounting for 7.3 percent of total exports, Russia is now third as a destination for local goods. In 1998, it topped the list at 18.6 percent, down from 23.7 percent for January-October 1997.

The overall trade deficit for the first 10 months was 5.85 million litas, slightly narrower than the 6.74 million litas gap the previous year.