In 2002, the Republic of Lithuania intends to increase her Exports to Russia by up to 60% on the year. This is according to what Algirdas Brazauskas, Lithuanian Prime Minister, said on Tuesday during his meeting with Vladimir Yakovlev, St. Petersburg's Mayor. He also said Lithuanian exports to Russia had already increased by about 50% over the first quarter of this year. The Prime Minister noted that his country intended to even up the existing misbalance in Lithuanian-Russian trade. At this time, Lithuania buys more than sells while 'the deficit of Lithuanian trade balance is as high as 40% and must be decreased immediately'.
According to the Committee for External Relations of the Administration of St. Petersburg, in 2001, trade turnover between the two countries amounted to USD 2.2 milliard. Of that, USD 140 milliard was the share of the Kaliningrad Region, USD 33.9 million - the share of St. Petersburg. In 2001, trade balance between Lithuania and St. Petersburg was 80% to the former's advantage. St. Petersburg's imports from Lithuania increased, over the past year, by a factor of 2.3, amounting to USD 21.7 million.