Statistics Lithuania informs that, based on non-final data obtained from customs declarations, Intrastat reporting and VAT returns data, exports in December 2016 amounted to 2 016 mln, imports – EUR 2 254 mln. Exports of goods of Lithuanian origin amounted to EUR 1 158 mln. The foreign trade deficit of Lithuania amounted to EUR 238 mln.

Sweden's ICA Gruppen, which operates Rimi Lietuva retail chain in Lithuania, will shortly submit the necessary documents to the Competition Council in connection to the intentions of buying another retailer Palink, the operator of Iki supermarkets.

Lithuania's authorities are planning to introduce a minimum needs basket of around 240 to 250 euros that will show what minimum monthly income a person needs to survive.

The price of electricity in Nord Pool Spot's Lithuanian bidding area last week averaged 36.5 euros per megawatt-hour, down by 7% from the previous week and down by 15% from the year-earlier level.

With retail stores in some European countries rationing vegetables because of shortages caused by bad weather in Spain, prices for vegetables imported to Lithuania have been on the rise as well.

UAB Merko statyba, a company of Merko Ehitus group, has started construction work on the Rinktines Urban residential development project in central Vilnius.

Russia's Alfa-Bank is seeking to recover 14.431 million euros from Vidmantas Kucinskas, one of Lithuania's richest business people and the owner of the fertilizer, fodder, sugar and turkey meat group Arvi.

Lietuvos Gelezinkeliai (Lithuanian Railways, or LG), the state-run railway company, posted 1.8 mln euros in preliminary net loss in 2016 after netting a profit of 2.776 mln euros in the year before.

2016 was another record breaking year for the foreign investment promotion agency Invest Lithuania as it attracted 36 foreign direct investment (FDI) projects to Lithuania. These projects are set to create 3,716 jobs over the next three years. By comparison, 28 foreign capital companies decided to set up operations in Lithuania in 2015, creating 2,370 jobs.

Macaw, an award-winning employer and digital solution provider, has selected Vilnius as the location for its first office outside the Netherlands. In establishing a company in Vilnius, Macaw plans to grow exponentially and recruit highly talented information technology specialists who will develop Microsoft and Sitecore based solutions for international customers.