Lithuania boasts high economic growth but has a sizeable current account balance affecting its economic landscape.

Economic Structure

  • Rapid growth following 1998 Russian financial crisis
  • GDP: $28.57 billion
    • Real GDP Growth: 8%
  • Unemployment: 3.2%
  • Rapid Real Wage Growth
  • Inflation: 2.4% (2007 CPI est.)
  • Current Account Balance: -9.2%

Demographic:

  • Median Age
    • Male: 36.4 years
    • Female: 41.6 years
  • Sex Ratio
    • Under 15 years: 1.05 male(s)/female
    • 15-64 years: 0.96 male(s)/female
    • 65 years and over: 0.53 male(s)/female
  • Income per Capita: $16,700
  • 2008 population growth estimate is -.284%
  • Literacy rate: 99.6% (for men and women)

Lithuania By Sector:

  • Agriculture
    • Changes from collectivization to private to capital-scaled farms
  • Construction
    • 15% annual growth
    • Almost completely privatized
    • Shift from Russian to domestic contracts
  • Manufacturing
    • Leather and Textiles are biggest manufacturing sectors
    • Wood and Furniture growing the fastest
    • Export to UK and Sweden (60% of exports to Sweden are for IKEA)
  • Financial Services
    • Consolidation: 9 commercial banks, 90% foreign capital
    • Falling interest rates fuel strong growth