A survey of 150 heads of the country's industrial companies conducted by the Lithuanian Confederation of Industrialists (LPK) has revealed that the geopolitical crisis has impacted every fifth producer working in Ukraine's market and every third producer working in Russia's market. It is forecasted that the long-running conflict may influence Lithuania's domestic consumption as well, such signs have already been noticed.
According to Aleksandr Izgorodin, analyst at the Lithuanian Confederation of Industrialists (LPK), even though Lithuania's export to Commonwealth of Independent States (CIS) grew by 3% in 2013, trends in separate countries vary greatly.
Export to Ukraine has contracted by as much as 37%, while export to Russia has even grown due to renewed supply of dairy products. On the other hand Russia has banned six major Ukrainian dairy companies from importing their goods. It is one of the additional factors which has determined good results of dairy product export by Lithuania. Lithuanian dairy companies are actively producing and exporting goods to Russia in order to fulfill contracts and return to the usual export volume," explained LPK analyst.
