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Lithuania:
Economy

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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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