| Economy | Lithuania |
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Economy - overview:
|
Lithuania gained membership in the World Trade Organization and joined the EU in May 2004. Despite Lithuania's EU accession, Lithuania's trade with its Central and Eastern European neighbors, and Russia in particular, accounts for a significant share of total trade. Foreign investment and business support have helped in the transition from the old command economy to a market economy. Lithuania's economy grew on average 8% per year for the four years prior to 2008 driven by exports and domestic demand. However, GDP plunged nearly 15% in 2009 - the three former Soviet Baltic republics were among the hardest hit by the 2008-09 financial crisis. In 2009, the government launched a high-profile campaign, led by Prime Minister KUBILIUS, to attract foreign investment and to develop export markets, and the government's steadfast commitment to broad economic reforms has been vital in Lithuania's quick recovery from a deep recession, although unemployment - at 16.2%in 2011 - remains stubbornly high. Lithuania in 2011 began to unbundle its energy networks in order to reduce its dependence on Russian energy. |
GDP (purchasing power parity):
|
$61.3 billion (2011 est.)
$57.94 billion (2010 est.)
$57.12 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$18,700 (2011 est.)
$17,600 (2010 est.)
$17,100 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$43.2 billion (2011 est.) |
GDP - real growth rate:
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6% (2011 est.)
1.3% (2010 est.)
-14.7% (2009 est.) |
GDP - composition by sector:
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agriculture: 3.2%
industry: 28%
services: 68.8% (2011 est.) |
Investment (gross fixed):
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16.9% of GDP (2011 est.) |
Population below poverty line:
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4% (2003) |
Household income or consumption by percentage share:
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lowest 10%: 2.6%
highest 10%: 29.1% (2008) |
Distribution of family income - Gini index:
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37.6 (2008)
34 (1999) |
Inflation rate (consumer prices):
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4% (2011 est.)
1.3% (2010 est.) |
Central bank discount rate:
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3% (31 December 2010 est.)
2.06% (31 December 2009 est.) |
Commercial bank prime lending rate:
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5.5% (31 December 2011 est.)
5.988% (31 December 2010 est.) |
Stock of money:
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$8.55 billion (January 2010)
$9.519 billion (31 December 2008) |
Stock of money - per capita:
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2,419 USD per capita |
Stock of quasi money:
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$8.731 billion (31 December 2009 est.)
$8.419 billion (31 December 2008) |
Stock of quasi money - per capita:
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2,470 USD per capita |
Stock of domestic credit:
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$25.71 billion (31 December 2011 est.)
$23.7 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
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7,272 USD per capita |
Stock of narrow money:
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$12.14 billion (31 December 2011 est.)
$10.63 billion (31 December 2010 est.) |
Stock of broad money:
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$20.49 billion (31 December 2011 est.)
$18.51 billion (31 December 2010 est.) |
Labor force:
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1.618 million (2011 est.) |
Labor force participation rate:
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45.76 % of population |
Labor force - by occupation:
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agriculture: 14%
industry: 29.1%
services: 56.9% (2005) |
Unemployment rate:
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16.2% (2011 est.)
17.8% (2010 est.) |
Unemployment, youth ages 15-24:
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total: 29.4%
male: 35.2%
female: 21.7% (2009) |
Budget:
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revenues: $14.09 billion
expenditures: $16.54 billion (2011 est.) |
Budget revenues per capita:
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3,986 USD per capita |
Taxes and other revenues:
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32.6% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-5.7% of GDP (2011 est.) |
Public debt:
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37.7% of GDP (2011 est.)
38% of GDP (2010 est.)
note: data cover general Government Gross Debt, and includes debt instruments issued (or owned) by Government entities, including sub-sectors of central government, state government, local government, and social security funds |
Industries:
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metal-cutting machine tools, electric motors, television sets, refrigerators and freezers, petroleum refining, shipbuilding (small ships), furniture making, textiles, food processing, fertilizers, agricultural machinery, optical equipment, electronic components, computers, amber jewelry |
Industrial production growth rate:
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6.7% (2011 est.) |
Electricity - production:
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12.27 billion kWh (2008 est.) |
Electricity - production per capita:
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3,471 kWh per capita |
Electricity - consumption:
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10.3 billion kWh (2008 est.) |
Electricity - consumption - per capita:
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2,914 kWh per capita |
Electricity - exports:
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7.715 billion kWh (2009 est.) |
Electricity - imports:
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2.932 billion kWh (2009 est.) |
Oil - production:
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5,732 bbl/day (2010 est.) |
Oil - production per capita:
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1,622 bbl/day per capita |
Oil - consumption:
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67,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
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6.92 bbl/year per capita |
Oil - exports:
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76,510 bbl/day (2009 est.) |
Oil - imports:
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183,100 bbl/day (2009 est.) |
Oil - proved reserves:
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12 million bbl (1 January 2011 est.) |
Natural gas - production:
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0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
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2.7 billion cu m (2009 est.) |
Natural gas - consumption - per capita:
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764 cu m per capita |
Natural gas - exports:
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0 cu m (2009 est.) |
Natural gas - imports:
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2.7 billion cu m (2009 est.) |
Natural gas - proved reserves:
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0 cu m (1 January 2011 est.) |
Agriculture - products:
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grain, potatoes, sugar beets, flax, vegetables; beef, milk, eggs; fish |
Current account balance:
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-$1.225 billion (2011 est.)
$667 million (2010 est.) |
Current account balance - per capita:
|
-346 USD per capita |
Exports:
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$27.04 billion (2011 est.)
$20.82 billion (2010 est.) |
Exports per capita:
|
7,649 USD per capita |
Exports - commodities:
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mineral products 22%, machinery and equipment 10%, chemicals 9%, textiles 7%, foodstuffs 7%, plastics 7% |
Exports - partners:
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Russia 15.7%, Germany 10.1%, Latvia 9.8%, Poland 7.9%, Netherlands 5.7%, Belarus 5.2%, Estonia 5.2%, UK 5% (2010) |
Imports:
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$29.4 billion (2011 est.)
$22.38 billion (2010 est.) |
Imports per capita:
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8,316 USD per capita |
Imports - commodities:
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mineral products, machinery and equipment, transport equipment, chemicals, textiles and clothing, metals |
Imports - partners:
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Russia 32.9%, Germany 11%, Poland 8.9%, Latvia 6.3%, Netherlands 4.4% (2010) |
Reserves of foreign exchange and gold:
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$7.474 billion (31 December 2011 est.)
$6.837 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
2,114 USD per capita |
Debt - external:
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$27.67 billion (31 December 2011 est.)
$29.88 billion (31 December 2010 est.) |
Debt - external - per capita:
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7,827 USD per capita |
Stock of direct foreign investment - at home:
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$15.01 billion (31 December 2011 est.)
$13.61 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
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4,246 USD per capita |
Stock of direct foreign investment - abroad:
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$2.317 billion (31 December 2011 est.)
$2.117 billion (31 December 2010 est.) |
Stock of direct foreign investment - abroad - per capita:
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656 USD per capita |
Market value of publicly traded shares:
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$5.661 billion (31 December 2010)
$4.477 billion (31 December 2009)
$3.625 billion (31 December 2008) |
Market value of publicly traded shares - per capita:
|
1,602 USD per capita |
Currency (code):
|
litas (LTL) |
Exchange rates:
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litai (LTL) per US dollar -
2.454 (2011 est.)
2.6008 (2010 est.)
2.4787 (2009)
2.3251 (2008)
2.5362 (2007) |
Fiscal year:
|
calendar year |
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