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Lithuania:
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Other pages in this profile of Lithuania:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
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Economy - overview |
Definition Lithuania, the Baltic state that has conducted the most trade with Russia, has grown rapidly since rebounding from the 1998 Russian financial crisis. Unemployment fell to 3.2% in 2007 while wages continued to grow at double digit rates, contributing to rising inflation. Exports and imports also grew strongly, and the current account deficit rose to nearly 15% of GDP in 2007. Trade has been increasingly oriented toward the West. Lithuania has gained membership in the World Trade Organization and joined the EU in May 2004. 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) |
Definition - World rank and map $59.64 billion (2007 est.) |
GDP (official exchange rate) |
Definition $38.35 billion (2007 est.) |
GDP - real growth rate |
Definition - World rank and map 8.8% (2007 est.) |
GDP - per capita |
Definition - World rank and map $17,700 (2007 est.) |
GDP - composition by sector |
Definition agriculture: 5.3% industry: 33.3% services: 61.4% (2007 est.) |
Labor force |
Definition 1.587 million (2007 est.) |
Labor force - by occupation |
Definition agriculture: 15.8% industry: 28.2% services: 56% (2004) |
Unemployment rate |
Definition - World rank and map 3.5% note: based on survey data, official registered unemployment of 5.7% (2007 est.) |
Population below poverty line |
Definition 4% (2003) |
Household income or consumption by percentage share |
Definition lowest 10%: 2.7% highest 10%: 27.7% (2003) |
Distribution of family income - Gini index |
Definition - World rank and map 36 (2005) |
Inflation rate (consumer prices) |
Definition - World rank and map 5.8% (2007 est.) |
Investment (gross fixed) |
Definition - World rank and map 26.6% of GDP (2007 est.) |
Budget |
Definition revenues: $13.14 billion expenditures: $13.6 billion (2007 est.) |
Public debt |
Definition - World rank and map 14.5% of GDP (2007 est.) |
Agriculture - products |
Definition grain, potatoes, sugar beets, flax, vegetables; beef, milk, eggs; fish |
Industries |
Definition 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 |
Definition - World rank and map 7.4% (2007 est.) |
Electricity - production |
Definition - World rank and map 13.48 billion kWh (2005) |
Electricity - consumption |
Definition - World rank and map 9.296 billion kWh (2005) |
Electricity - consumption per capita |
Definition - World rank and map 2,607.5 kWh (2005) |
Electricity - exports |
Definition 8.607 billion kWh (2005) |
Electricity - imports |
Definition 5.641 billion kWh (2005) |
Oil - production |
Definition - World rank and map 13,160 bbl/day (2005 est.) |
Oil - consumption |
Definition - World rank and map 57,000 bbl/day (2005 est.) |
Oil - consumption per 1,000 people |
Definition - World rank and map 16 bbl/day (2005 est.) |
Oil - exports |
Definition - World rank and map 145,100 bbl/day (2004) |
Oil - imports |
Definition - World rank and map 187,800 bbl/day (2004) |
Oil - proved reserves |
Definition - World rank and map 12 million bbl (1 January 2006 est.) |
Natural gas - production |
Definition - World rank and map 0 cu m (2005) |
Natural gas - consumption |
Definition - World rank and map 2.916 billion cu m (2005 est.) |
Natural gas - consumption per capita |
Definition - World rank and map 818 cu m (2005 est.) |
Natural gas - exports |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - imports |
Definition - World rank and map 2.916 billion cu m (2005) |
Natural gas - proved reserves |
Definition - World rank and map 0 cu m (1 January 2006 est.) |
Current account balance |
Definition - World rank and map -$4.988 billion (2007 est.) |
Exports |
Definition - World rank and map $17.18 billion f.o.b. (2007 est.) |
Exports - commodities |
Definition mineral products 23%, textiles and clothing 16%, machinery and equipment 11%, chemicals 6%, wood and wood products 5%, foodstuffs 5% (2001) |
Exports - partners |
Definition Russia 15%, Latvia 12.8%, Germany 10.5%, Poland 6.3%, Estonia 5.8%, UK 4.6%, Denmark 4.1%, Belarus 4% (2006) |
Imports |
Definition - World rank and map $22.8 billion f.o.b. (2007 est.) |
Imports - commodities |
Definition mineral products, machinery and equipment, transport equipment, chemicals, textiles and clothing, metals |
Imports - partners |
Definition Russia 18.1%, Germany 14.9%, Poland 10.6%, Latvia 5.5%, Netherlands 4.2% (2006) |
Reserves of foreign exchange and gold |
Definition - World rank and map $7.721 billion (31 December 2007 est.) |
Debt - external |
Definition - World rank and map $27.19 billion (31 December 2007) |
Stock of direct foreign investment - at home |
Definition $14.63 billion (2007 est.) |
Stock of direct foreign investment - abroad |
Definition $1.783 billion (2007 est.) |
Market value of publicly traded shares |
Definition $10.19 billion (2006) |
Economic aid - recipient |
Definition $249.7 million (2004) |
Currency (code) |
Definition litas (LTL) |
Exchange rates |
Definition litai per US dollar - 2.5362 (2007), 2.7498 (2006), 2.774 (2005), 2.7806 (2004), 3.0609 (2003) |
Fiscal year |
Definition calendar year |
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