| Economy | Lithuania |
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Economy - overview:
|
Lithuania's economy grew on average 8% per year for the four years prior to 2008, driven by exports and domestic demand. Unemployment reached 15% in 2009, up from 4.8% in 2008. GDP plunged nearly 17% in 2009 - the three former Soviet Baltic republics had the world's worst economic declines last year. The current account deficit rose to roughly 15% of GDP in 2007-08, but fell sharply in 2009 in the wake of a cutback in imports to almost half the 2008 level. Lithuania has 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 growing percentage of total trade. Privatization of the large, state-owned utilities is nearly complete. Foreign government and business support have helped in the transition from the old command economy to a market economy. |
GDP (purchasing power parity):
|
$53.35 billion (2009 est.)
$64.13 billion (2008 est.)
$62.26 billion (2007 est.)
note: data are in 2009 US dollars |
GDP - per capita (PPP):
|
$15,000 (2009 est.)
$18,000 (2008 est.)
$17,400 (2007 est.)
note: data are in 2009 US dollars |
GDP (official exchange rate):
|
$35.96 billion (2009 est.) |
GDP - real growth rate:
|
-16.8% (2009 est.)
3% (2008 est.)
8.9% (2007 est.) |
GDP - composition by sector:
|
agriculture: 5.3%
industry: 33.2%
services: 61.5% (2009 est.) |
Investment (gross fixed):
|
20.4% of GDP (2009 est.) |
Population below poverty line:
|
4% (2003) |
Household income or consumption by percentage share:
|
lowest 10%: 2.7%
highest 10%: 27.4% (2004) |
Distribution of family income - Gini index:
|
36 (2005)
34 (1999) |
Inflation rate (consumer prices):
|
4.7% (2009 est.)
10.9% (2008 est.) |
Central bank discount rate:
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4.73% (31 December 2008)
4.85% (31 December 2007) |
Commercial bank prime lending rate:
|
NA% (31 December 2008)
6.86% (31 December 2007) |
Stock of money:
|
$9.519 billion (31 December 2008)
$11.84 billion (31 December 2007) |
Stock of money - per capita:
|
2,678 USD per capita |
Stock of quasi money:
|
$8.419 billion (31 December 2008)
$6.917 billion (31 December 2007) |
Stock of quasi money - per capita:
|
2,369 USD per capita |
Stock of domestic credit:
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$29.21 billion (31 December 2008)
$25.05 billion (31 December 2007) |
Stock of domestic credit - per capita:
|
8,217 USD per capita |
Labor force:
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1.656 million (2009 est.) |
Labor force participation rate:
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46.58 % of population |
Labor force - by occupation:
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agriculture: 14%
industry: 29.1%
services: 56.9% (2005) |
Unemployment rate:
|
15% (2009 est.)
5.842% (2008 est.)
note: based on survey data, official registered unemployment of 5.7% |
Budget:
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revenues: $13.09 billion
expenditures: $16.62 billion (2009 est.) |
Budget revenues per capita:
|
3,682 USD per capita |
Public debt:
|
31.3% of GDP (2009 est.)
15.6% of GDP (2008 est.) |
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:
|
-12.5% (2009 est.) |
Electricity - production:
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12.09 billion kWh (2007 est.) |
Electricity - production per capita:
|
3,401 kWh per capita |
Electricity - consumption:
|
9.612 billion kWh (2007 est.) |
Electricity - consumption - per capita:
|
2,704 kWh per capita |
Electricity - exports:
|
6.606 billion kWh (2008 est.) |
Electricity - imports:
|
5.649 billion kWh (2008 est.) |
Oil - production:
|
8,247 bbl/day (2008 est.) |
Oil - production per capita:
|
2,320 bbl/day per capita |
Oil - consumption:
|
73,000 bbl/day (2008 est.) |
Oil - consumption - per capita:
|
7.49 bbl/year per capita |
Oil - exports:
|
137,200 bbl/day (2007 est.) |
Oil - imports:
|
204,000 bbl/day (2007 est.) |
Oil - proved reserves:
|
12 million bbl (1 January 2009 est.) |
Natural gas - production:
|
0 cu m (2008 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
3.53 billion cu m (2008 est.) |
Natural gas - consumption - per capita:
|
993 cu m per capita |
Natural gas - exports:
|
0 cu m (2008 est.) |
Natural gas - imports:
|
3.53 billion cu m (2008 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2009 est.) |
Agriculture - products:
|
grain, potatoes, sugar beets, flax, vegetables; beef, milk, eggs; fish |
Current account balance:
|
$482 million (2009 est.)
$-5.629 billion (2008 est.) |
Current account balance - per capita:
|
136 USD per capita |
Exports:
|
$14.68 billion (2009 est.)
$23.74 billion (2008 est.) |
Exports per capita:
|
4,130 USD per capita |
Exports - commodities:
|
mineral products 23%, textiles and clothing 16%, machinery and equipment 11%, chemicals 6%, wood and wood products 5%, foodstuffs 5% |
Exports - partners:
|
Russia 16%, Latvia 11.6%, Germany 7.2%, Poland 5.8%, Estonia 5.7%, France 4.9%, UK 4.7%, Denmark 4.7%, Belarus 4.5% (2008) |
Imports:
|
$15.63 billion (2009 est.)
$29.3 billion (2008 est.) |
Imports per capita:
|
4,397 USD per capita |
Imports - commodities:
|
mineral products, machinery and equipment, transport equipment, chemicals, textiles and clothing, metals |
Imports - partners:
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Russia 30.1%, Germany 11.8%, Poland 10%, Latvia 5.2% (2008) |
Reserves of foreign exchange and gold:
|
$5.673 billion (31 December 2009 est.)
$6.441 billion (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
1,596 USD per capita |
Debt - external:
|
$36.43 billion (31 December 2009 est.)
$32.47 billion (31 December 2008 est.) |
Debt - external - per capita:
|
10,248 USD per capita |
Stock of direct foreign investment - at home:
|
$13.8 billion (31 December 2009 est.)
$12.85 billion (31 December 2008 est.) |
Stock of direct foreign investment - at home - per capita:
|
3,882 USD per capita |
Stock of direct foreign investment - abroad:
|
$2.035 billion (31 December 2009 est.)
$1.985 billion (31 December 2008 est.) |
Stock of direct foreign investment - abroad - per capita:
|
573 USD per capita |
Market value of publicly traded shares:
|
$3.625 billion (31 December 2008)
$10.13 billion (31 December 2007)
$10.19 billion (31 December 2006) |
Market value of publicly traded shares - per capita:
|
1,020 USD per capita |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$249.7 million |
Economic aid - recipient per capita:
|
71 USD per capita |
Currency (code):
|
litas (LTL) |
Exchange rates:
|
litai (LTL) per US dollar - 2.5337 (2009), 2.3251 (2008), 2.5362 (2007), 2.7498 (2006), 2.774 (2005) |
Fiscal year:
|
calendar year |
|
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