LITHUANIA FINALLY JOINS THE EUROZONE
Lithuania | Milestones
On January 1, Lithuania abandoned the litas, becoming the 19th member of the eurozone and joining Baltic peers Estonia and Latvia in the economic and monetary union.
Lithuania GDP and Economic Data
Country Report 2017 - Includes Lithuania real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Lithuania economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Lithuania best banks and safest banks are also available.
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International Reserves
USD 5.8 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product - GDP
USD 53.3 billion (2018, estimate)
GDP (Purchasing Power Parity)
Intl$ 97.0 billion (2018, estimate)
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 7.4% | 11.1% | 2.6% | -14.8% | 1.6% | 6.1% | 3.8% |
| 2014 | 2015 | 2016 | 2017 | 2018* | ||
| 3.6% | 3% | 1.6% | 2.6% | 3% |
*Estimate
GDP per capita - current prices
USD 19,143.4 (2018, estimate)
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2018 |
| N/A | N/A | 0.07% | 0.07% | 0.07% |
*Estimate
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GDP - composition by sector
- agriculture: 2.7%
- industry: 26.1%
- services: 61.1%
(2018 estimate)
Gross domestic expenditure on R&D; (% of GDP)
0.9% (2017)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -0.7% | 0.7% | 3.7% | 2.5% | 2.3% |
*Estimate
Unemployment rate
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 9.1% | 7.9% | 7.1% | 6.1% | 6.1% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 42.6% | 39.9% | 39.4% | 34.2% | 31.8% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2013 | 2014 | 2015 | 2016* | 2017* |
| -0.2% | 0.3% | 0.5% | 0.7% | 0.5% |
*Estimate
Government bond ratings
Standard & Poor's: A
Moody's: A3
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| N/A | N/A | N/A |
Source
Current account balance by percentage of GDP
1.6 % (2018 estimate)
Exports as percent of GDP (Exports of goods and services)
82.3% (2018)
Shares in world total merchandising export
0.17% (2018)
Shares in world total commercial services export
0.20% (2018)
Export commodities
Refined fuel, machinery and equipment, chemicals, textiles, foodstuffs, plastics
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Import commodities
Oil, natural gas, machinery and equipment, transport equipment, chemicals, textiles and clothing, metals
Exports - major partners
Russia 15%, Latvia 9.9%, Poland 8.1%, Germany 7.3%, US 5.2%, Estonia 5%, Sweden 4.8%(2017)
Imports - major partners
Russia 13%, Germany 12.3%, Poland 10.6%, Latvia 7.1%, Italy 5.2%, Netherlands 5.1%, Sweden 4% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 264 million | USD 652 million | USD 905 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 108 million | USD 33 million | USD 838 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| N/A | USD 17 million | USD 16 million | USD 554 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
11 out of 190 countries
Subcategories:
Starting a Business: 34 out of 190 countries
Dealing with Construction Permits: 10 out of 190 countries
Getting Electricity: 15 out of 190 countries
Registering Property: 4 out of 190 countries
Getting Credit: 48 out of 190 countries
Protecting Minority Investors: 37 out of 190 countries
Paying Taxes: 18 out of 190 countries
Trading across Borders: 19 out of 190 countries
Enforcing Contracts: 7 out of 190 countries
Resolving Insolvency: 89 out of 190 countries
Source
Global competitiveness ranking
39 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 21 / Score: 74.2 (Mostly free)
(100=totally free 0=totally repressed)
Source
Source
Languages
Lithuanian (official) 82%, Russian 8%, Polish 5.6%, other 0.9%, unspecified 3.5% (2011 est.)
Religions
Roman Catholic 77.2%, Russian Orthodox 4.1%, Old Believer 0.8%, Evangelical Lutheran 0.6%, Evangelical Reformist 0.2%, other (including Sunni Muslim, Jewish, Greek Catholic, and Karaite) 0.8%, none 6.1%, unspecified 10.1% (2011 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| N/A | 3.5 million | 3.1 million | 2.91 million | 2.76 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 39.5% | 61.2% | 67% | 67.7% |
Literacy
Total population: 99.8%
Male: 99.8%
Female: 99.8%
Definition: age 15 and over can read and write (2015 est.)
% of population living on less than $3.10 a day
1.5% (last available estimate, 2015)
Inequality of wealth distribution (Gini index)
37.4 (last available estimate, 2015)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Free
Political Rights: 1
Civil Liberties: 1 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 15.2% Mobile: 164.3% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)