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Lithuania Economy 2016
https://allcountries.org/world_fact_book_2016/lithuania/lithuania_economy.html
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES











Lithuania Economy 2016
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 11, 2016

Economy - overview:
Lithuania gained membership in the World Trade Organization in May 2001 and joined the EU in May 2004. Lithuania's trade with the EU and CIS countries accounts for approximately 87.3% of total trade. Foreign investment and EU funding have aided in the transition from the former planned economy to a market economy. The three former Soviet Baltic republics were severely hit by the 2008-09 financial crisis, but Lithuania has rebounded and become one of the fastest growing economies in the EU. Lithuania’s ongoing recovery hinges on export growth, which is being hampered by economic slowdowns in the EU and Russia. Lithuania joined the euro zone on 1 January 2015.

GDP (purchasing power parity):
$82.14 billion (2015 est.) $80.72 billion (2014 est.) $78.4 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 89
[see also: GDP country ranks ]

GDP (official exchange rate):
$41.78 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.8% (2015 est.) 3% (2014 est.) 3.3% (2013 est.)
country comparison to the world: 152
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$28,000 (2015 est.) $27,500 (2014 est.) $26,700 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 65
[see also: GDP - per capita country ranks ]

Gross national saving:
18.9% of GDP (2015 est.) 19% of GDP (2014 est.) 20.7% of GDP (2013 est.)
country comparison to the world: 90
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 64.5%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 16.5%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 3.7%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 83.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -88.2% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 3.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 30.7%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 65.8% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
grain, potatoes, sugar beets, flax, vegetables; beef, milk, eggs, pork, cheese; fish

Industries:
metal-cutting machine tools, electric motors, television sets, refrigerators and freezers, petroleum refining, shipbuilding (small ships), furniture, textiles, food processing, fertilizers, agricultural machinery, optical equipment, lasers, electronic components, computers, amber jewelry, information technology, video game development, biotechnology

Industrial production growth rate:
3.6% (2015 est.)
country comparison to the world: 66
[see also: Industrial production growth rate country ranks ]

Labor force:
1.464 million (2015 est.)
country comparison to the world: 134
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 7.9%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 19.6%
[see also: Labor force - by occupation - industry country ranks ]
services: 72.5% (2012 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
8.2% (2015 est.) 10.7% (2014 est.)
country comparison to the world: 95
[see also: Unemployment rate country ranks ]

Population below poverty line:
4% (2008 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 29.1% (2008)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
35.5 (2009) 34 (1999)
country comparison to the world: 88
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $13.31 billion
[see also: Budget revenues country ranks ]
expenditures: $13.97 billion (2015 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
31.9% of GDP (2015 est.)
country comparison to the world: 79
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.6% of GDP (2015 est.)
country comparison to the world: 60
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
38.8% of GDP (2015 est.) 39.3% of GDP (2014 est.)
note: official data; data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities, debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are sold at public auctions
country comparison to the world: 118
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-1% (2015 est.) 0.2% (2014 est.)
country comparison to the world: 7
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.05% (31 December 2010) 0.3% (31 December 2009)
country comparison to the world: 142
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
3.2% (31 December 2015 est.) 3.5% (31 December 2014 est.)
country comparison to the world: 168
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$17.4 billion (31 December 2015 est.) $14.67 billion (31 December 2014 est.)
country comparison to the world: 67
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$22.25 billion (31 December 2014 est.) $22.41 billion (31 December 2013 est.)
country comparison to the world: 86
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$21.08 billion (31 December 2015 est.) $22.34 billion (31 December 2014 est.)
country comparison to the world: 84
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$3.964 billion (31 December 2012 est.) $4.075 billion (31 December 2011) $5.661 billion (31 December 2010 est.)
country comparison to the world: 91
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$926 million (2015 est.) $60 million (2014 est.)
country comparison to the world: 119
[see also: Current account balance country ranks ]

Exports:
$30.92 billion (2015 est.) $31.55 billion (2014 est.)
country comparison to the world: 62
[see also: Exports country ranks ]

Exports - commodities:
refined fuel, machinery and equipment, chemicals, textiles, foodstuffs, plastics

Exports - partners:
Russia 20.9%, Latvia 9.2%, Poland 8.3%, Germany 7.3%, Belarus 4.7%, Netherlands 4.5%, Estonia 4.3% (2014)

Imports:
$33.97 billion (2015 est.) $33.54 billion (2014 est.)
country comparison to the world: 61
[see also: Imports country ranks ]

Imports - commodities:
oil, natural gas, machinery and equipment, transport equipment, chemicals, textiles and clothing, metals

Imports - partners:
Russia 21.7%, Germany 11%, Poland 9.5%, Latvia 6.9%, Italy 4.9%, Netherlands 4.8%, UK 4.1% (2014)

Reserves of foreign exchange and gold:
$8.728 billion (31 December 2014 est.) $8.072 billion (31 December 2013 est.)
country comparison to the world: 78
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$30.81 billion (31 December 2014 est.) $33.64 billion (31 December 2013 est.)
country comparison to the world: 74
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$17.1 billion (31 December 2015 est.) $15.8 billion (31 December 2014 est.)
country comparison to the world: 82
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$4.164 billion (31 December 2015 est.) $3.814 billion (31 December 2014 est.)
country comparison to the world: 70
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
litai (LTL) per US dollar - 0.91 (2015 est.) 0.75 (2014 est.) 0.75 (2013 est.) 2.69 (2012 est.) 2.48 (2011 est.)


NOTE: The information regarding Lithuania on this page is re-published from the 2016 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Lithuania Economy 2016 information contained here. All suggestions for corrections of any errors about Lithuania Economy 2016 should be addressed to the CIA.




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