Lithuania Lures Fintechs
Lithuania establishes a regulatory regime fit for fintechs.
Lithuania GDP and Economic Data
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 62.64 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
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GDP (Purchasing Power Parity)
USD 117.63 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
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Real GDP growth
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 4.3% | 3.9% | 4.3% | –0.9% | 4.7% |
*Estimate
Source
GDP per capita - current prices
USD 22,411.65 (2021 estimate)
IMF - World Economic Outlook, October 2021
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GDP per capita - PPP
USD 42,091.31 (2021 estimate)
IMF - World Economic Outlook, October 2021
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GDP - composition by sector
- agriculture: 3.3%
- industry: 24.9%
- services: 61.5%
(2018 estimate)
Gross domestic expenditure on R&D; (% of GDP)
1.0% (2019)
Inflation
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 3.7% | 2.5% | 2.2% | 1.1% | 3% |
*Estimate
Source
Unemployment rate
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 7.1% | 6.1% | 6.3% | 8.5% | 6.5% |
*Estimate
Source
Public debt (General government gross debt as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 39.3% | 33.7% | 35.9% | 47.1% | 47.4% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 1.6% | 1.5% | 1.1% | –6.8% | –4.9% |
*Estimate
Source
Government bond ratings
Standard & Poor's: A+
Moody's: A2
Standard & Poor's / Moody's
Source
Source
Current account balance
USD 4.2 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
Current account balance by percentage of GDP
6.7% (2021 estimate)
IMF - World Economic Outlook, October 2021
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Exports as percent of GDP (Exports of goods and services)
73.5% (2020)
World Bank - World Development Indicators (updated Feb 2022)
Shares in world total merchandising export
0.19% (2020)
Shares in world total commercial services export
0.2% (2020)
Export commodities
Refined petroleum, furniture, cigarettes, wheat, polyethylene (2019)
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Import commodities
Crude petroleum, cars, packaged medicines, refined petroleum, electricity (2019)
Exports - major partners
Poland 12%, Russia 12%, Germany 12%, Latvia 7%, Netherlands 5% (2019)
Imports - major partners
Poland 12%, Russia 12%, Germany 12%, Latvia 7%, Netherlands 5% (2019)
FDI inflows
| 2019 | 2020 | 2021 |
| USD 977 million | USD 1.2 billion | USD 479 million |
FDI outflows
| 2019 | 2020 | 2021 |
| USD 704 million | USD 143 million | USD –285 million |
Value of cross-border M&A, by country of purchaser
| 2018 | 2019 | 2020 | 2021 |
| USD 16 million | USD 143 million | N/A | USD 32 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
World Bank - Doing Business 2020
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Global competitiveness ranking
18 out of 141 (2019)
World Economic Forum / Global competitiveness ranking
Index of Economic Freedom
Ranking: 17 / Score: 75.8 (Mostly Free)
The Heritage Foundation - 2022 Index of Economic Freedom
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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 |
| 3.7 million | 3.5 million | 3.1 million | 2.9 million | 2.8 million |
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2020 |
| 39.5% | 61.2% | 67% | 68% |
Literacy
Total population: 99.8%
Male: 99.8%
Female: 99.8% (2015)
Definition: age 15 and over can read and write
% of population living on less than $3.10 a day
0.7% (last available estimate, 2019)
Inequality of wealth distribution (Gini index)
35.3 (last available estimate, 2019)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Total score: 89/100
Status: Free
Political Rights: 38/40
Civil Liberties: 51/60 (2022)
Source
Total telephone subscribers as % of population
Fixed: 11.8%
Mobile: 134.9% (2020)
(fixed-telephone subscribers and mobile-cellular subscribers)