Lithuania


Lithuania Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Lithuania; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Bank of Lithuania
International Reserves US$ 8.202 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 42.438 billion (2011 estimate)
GDP (Purchasing Power Parity) 63.653 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
6.7% 6.9% 10.2% 7.4% 7.8% 7.8% 9.8% 2.9%
2009 2010 2011 2012*
-14.8% 1.4% 5.9% 2%

*Estimate

GDP per capita - current prices US$ 13,068 (2011 estimate)
GDP per capita - PPP $19,601 International Dollars (2011 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
N/A N/A 0.07% 0.08% 0.08%

**Forecast

GDP - composition by sector
  • agriculture: 3.2% 
  • industry: 28% 
  • services: 68.8% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
4.2%(2008) 1.2% 4.1% 3.1%

*Estimate

Unemployment rate
2009 2010 2011 2012*
13.7% 17.8% 15.5%(2009) 14.5%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
15.5% 29.4% 38% 39% 40.9%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-3.3% -9.2% -7.1% -5.2% -2.9%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BBB

Moody's rating: Baa1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$4.477 billion US$5.661 billion US$4.075 billion
Largest companies in Lithuania N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -846 million (2011 estimate)(After 2008)
Current account balance by percentage of GDP -2% of GDP (2011 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

68.2% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.15%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.12% (2011)(2007)

(Data were released in 2012)

Total exports US$29.01 billion (2012 estimate) 
Export commodities mineral products, machinery and equipment, chemicals, textiles , foodstuffs, plastics
Total imports US$31.41 billion (2012 estimate) 
Import commodities mineral products, machinery and equipment, transport equipment, chemicals, textiles and clothing, metals
Exports - major partners Russia 16.7%, Latvia 10.4%, Germany 9.5%, Poland 7.1%, Estonia 6.8%, Netherlands 6.2%, Belarus 5.2%, UK 4.2%, France 4.2% (2009 estimate)
Imports - major partners Russia 33%, Germany 9.8%, Poland 9.2%, Latvia 6.7%, Netherlands 5% (2009 estimate)
FDI inflows
2009 2010 2011
US$66 million US$753 million(2009) US$1,217 million(2009)
FDI outflows
2009 2010 2011
US$217 million US$79 million US$165 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$31 million N/A(2009) US$4 million(2009) US$4 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 27 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 107 out of 185 countries(2009)

Enforcing Contracts: 14 out of 185 countries

Registering Property: 5 out of 185 countries

Getting credit: 53 out of 185 countries

Protecting investors: 70 out of 185 countries

Trading across border: 24 out of 185 countries

Paying Taxes: 60 out of 185 countries

Dealing with Construction Permits: 48 out of 185 countries

Getting Electricity: 75 out of 185 countries

Resolving Insolvency: 40 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
45

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 23 Score: 71.5 (Mostly Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+2
Total area 65,300 km2 (2006)
Capital Vilnius (2009)
Currency litai (LTL) (2009)
Government type parliamentary democracy (2009)
Languages Lithuanian (official) 82%, Russian 8%, Polish 5.6%, other and unspecified 4.4% (2001 census)
Religions Roman Catholic 79%, Russian Orthodox 4.1%, Protestant (including Lutheran and Evangelical Christian Baptist) 1.9%, other or unspecified 5.5%, none 9.5% (2001 census)
Total population
1980 1990 2000 2012* 2017**
N/A N/A 3.5 million 3.2 million 3.12 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
39.5% 61.2% 67% 67.1%
Population median age 39 years (2010)
Population growth rate -2.6% (2011)
Life expectancy 72 years (2010)
Adult literacy 100% (2005/2010)
% of population living on less than $2 a day <2% (2011)
Inequality of wealth distribution (Gini index)

37.57 (2008)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

173.16% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 65.05% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Vilnius: 133rd (2011)

CO2 emissions
(Metric tons of CO2 per capita)

3.8425 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS Swedbank (National, 2013)
2012:
  • COUNTRY WINNERS SEB (Global, 2012)
2011:
  • COUNTRY WINNERS SEB (Global, 2011)
2010:
  • COUNTRY WINNERS Swedbank (Asia, 2010)
2009:
  • COUNTRY WINNERS SEB Bank (National, 2009)

WORLD'S BEST INTERNET BANKS

2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Swedbank (Global, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks UniCredit Bank (Global, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks Swedbank (National, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks SEB Bankas (National, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks SEB bankas (National, 2009)
  • COUNTRY WINNERS / Best Consumer Internet Banks SEB bankas (National, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS SEB (Global, 2012)
2011:
  • COUNTRY WINNERS SEB Bank (Zeti Akhtar Aziz, 2011)
2010:
  • COUNTRY WINNERS SEB Bank (National, 2010)
2009:
  • COUNTRY WINNERS Swedbank (National, 2009)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS SEB (National, 2013)
2012:
  • COUNTRY WINNERS SEB (Global, 2012)
2011:
  • COUNTRY WINNERS SEB (Global, 2011)
2010:
  • COUNTRY WINNERS Swedbank (Zeti Akhtar Aziz, 2010)
2009:
  • COUNTRY WINNERS SEB Bank (Asia, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE