In 2022, the Lithuanian economy grew by 1.9%. As its economic projection is essentially oriented towards western Europe and the Baltic Sea region, Lithuania’s main trading partners remain its direct neighbours (Latvia, Poland) as well as Germany. Though rapidly declining, the Russian Federation is still in the top 5 of importing and exporting countries. The volume of bilateral trade with Switzerland, although very limited in scope, increased significantly for the second year in a row in 2022 (exports to CH: +56.6%, Imports from CH:+11.2%) with a positive trade balance of CHF 204.04 million.

FDI stocks in Lithuania have increased by 10.18% in 2022, coming almost exclusively from EU countries (Germany, Sweden, Estonia and the Netherlands), and former EU member state United Kingdom (ranking 5th).

The signing of the implementation agreement of the Second Swiss Contribution by the Swiss Ambassador and Lithuanian Minister of Finance in May 2023 enabled new projects with a value of CHF 45.2 million to be implemented in the country.

Source: S-GE