Browse a full set of economic indicators

Lithuania

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.

Basic Information

Government Type: Semi-presidential republic

Capital City: Vilnius

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank Bank of Lithuania
Currency Litai (LTL)
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 202
GDP (Purchasing Power Parity) USD 117.63 billion (2021 estimate)
IMF – World Economic Outlook, October 2021

GDP Data

Real GDP growth 2017 4.3%
2018 3.9%
2019 4.3%
2020* -0.9%
2021* 4.7%

*Estimate
GDP per capita – current prices USD 22,411.65 (2021 estimate)
IMF – World Economic Outlook, October 2021
GDP per capita – PPP USD 42,091.31 (2021 estimate)
IMF – World Economic Outlook, October 2021
GDP (PPP) – share of world total 0.08% (2021 estimate)
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 3.7%
2018 2.5%
2019 2.2%
2020* 1.1%
2021* 3%

*Estimate

Inflation & Debt

Inflation 2017 3.7%
2018 2.5%
2019 2.2%
2020* 1.1%
2021* 3%

*Estimate
Government Bond Ratings Standard & Poor’s: A+

Moody’s: A2

Standard & Poor’s / Moody’s
Unemployment rate 2017 7.1%
2018 6.1%
2019 6.3%
2020* 8.5%
2021* 6.5%
2021* 12%

*Estimate
Household saving rates 1.0% (2019)
Public debt (General government gross debt as a % of GDP) 2017 39.3%
2018 33.7%
2019 35.9%
2020* 47.1%
2021* 47.4%

*Estimate
Public deficit (General government net lending/borrowing as a % of GDP) 2017 1.6%
2019 1.5%
2019 1.1%
2020* -6.8%
2021* -4.9%

*Estimate

Market value of publicly traded shares N/A
Largest Companies N/A

Import/Export

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)
Total exports USD 41.4 billion (2020 estimate)
Export commodities Refined petroleum, furniture, cigarettes, wheat, polyethylene (2019)
Total imports USD 36 billion (2020 estimate)
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)

Competitiveness & Trade

Current account balance USD 4.2 billion (2021 estimate)
IMF – World Economic Outlook, October 2021
Current account balance by percentage of GDP 6.7% (2021 estimate)
IMF – World Economic Outlook, October 2021
FDI inflows 2019 USD 977 million
2020 USD 1.2 million
2021 USD 479 million
FDI Outflows 2019 USD 704 million
2020 USD 143 million
2021 USD –285 million
Value of cross-border M&A, by country of purchaser 2018 USD 16 million
2019 USD 143 million
2020 N/A
2021 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
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

Population & Geographic Data

Total Area 65,300 sq km

Total Population 1990 3.7 Million
2000 3.5 Million
2010 3.1 Million
2015 2.9 Million
2020 2.8 Million
Urban population as % of total population 1960 39.5%
1980 61.2%
2000 67%
2020 68%
Population median age 44.5 years
Population growth rate -1.04% (2022 estimate)
Life expectancy 75.8 years (2022 est.)
% 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)
Freedom House rating Total score: 67/100

Status: Partly Free

Political Rights: 28/40

Civil Liberties: 39/60 (2022)

Freedom House
Total telephone subscribers as % of population Total score: 89/100

Status: Free

Political Rights: 38/40

Civil Liberties: 51/60 (2022)
Internet users as % of total population Fixed: 11.8%

Mobile: 134.9% (2020)

(fixed-telephone subscribers and mobile-cellular subscribers)

Language & Religon

Languages Lithuanian (official) 82%, Russian 8%, Polish 5.6%, other 0.9%, unspecified 3.5% (2011 est.)
Literacy Total population: 99.8%
Male: 99.8%

Female: 99.8% (2015)

Definition: age 15 and over can read and write
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.)

World Rankings

Population 2.8 million
Mercer Cost of living index N/A
C02 Emissions per capita 4.1 metric tons per capita (2018)

Global Finance Rankings & Awards: Lithuania

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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