Economy - overview: | Lithuania, the Baltic state that has conducted the most trade with Russia, has slowly rebounded from the 1998 Russian financial crisis. Unemployment dropped from 11% in 2003 to 5.3% in 2005. Growing domestic consumption and increased investment have furthered recovery. Trade has been increasingly oriented toward the West. Lithuania has gained membership in the World Trade Organization and joined the EU in May 2004. Privatization of the large, state-owned utilities, particularly in the energy sector, is nearing completion. Overall, more than 80% of enterprises have been privatized. Foreign government and business support have helped in the transition from the old command economy to a market economy. |
GDP - per capita | $13,700 (2005 est.) |
GDP - real growth rate (%) | 6.4% (2005 est.) |
Agriculture - products | grain, potatoes, sugar beets, flax, vegetables; beef, milk, eggs; fish |
GDP - composition by sector (%) | agriculture: 5.7%, industry: 32.4%, services: 62% (2005 est.) |
Industries | metal-cutting machine tools, electric motors, television sets, refrigerators and freezers, petroleum refining, shipbuilding (small ships), furniture making, textiles, food processing, fertilizers, agricultural machinery, optical equipment, electronic components, computers, amber |
Economic aid - recipient | $228.5 million (1995) |
Debt - external | $10.47 billion (31 December 2004 est.) |
Population below poverty line (%) | NA |
Labor force - by occupation (%) | agriculture 20%, industry 30%, services 50% (1997 est.) |