Lithuania - Economy
How is the economy of Lithuania? Based on the information we have, Lithuania has a
high-income EU and eurozone member, largest Baltic economy; recovery supported by private consumption and EU fund-driven investments; structural challenges include pension reform, aging workforce, and high energy-import costs
. Key agricultural products in this country include: wheat, milk, sugar beets, rapeseed, barley, potatoes, triticale, oats, beans, peas (2023).More about the economy of Lithuania
| Labor force | 1.548 million (2024 est.) |
|---|---|
| Industrial production growth rate | 3.2% (2024 est.) |
| Industries | metal-cutting machine tools, electric motors, televisions, refrigerators and freezers, petroleum refining, shipbuilding (small ships), furniture, textiles, food processing, fertilizer, agricultural machinery, optical equipment, lasers, electronic components, computers, amber jewelry, information technology, video game development, app/software development, biotechnology |
| Population below poverty line | 20.9% (2021 est.) |
| Taxes and other revenues | 21.4% (of GDP) (2023 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | euros (EUR) per US dollar - |
| Exchange rates 2024 | 0.924 (2024 est.) |
| Exchange rates 2023 | 0.925 (2023 est.) |
| Exchange rates 2022 | 0.95 (2022 est.) |
| Exchange rates 2021 | 0.845 (2021 est.) |
| Exchange rates 2020 | 0.876 (2020 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $7.406 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $6.168 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $5.365 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | $2.101 billion (2024 est.) |
| Current account balance 2023 | $878.388 million (2023 est.) |
| Current account balance 2022 | -$4.322 billion (2022 est.) |
| Public debt | |
| Public debt 2023 | 36.9% of GDP (2023 est.) |
| Budget | |
| Revenues | $24.347 billion (2022 est.) |
| Expenditures | $24.219 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 1.2% of GDP (2024 est.) |
| Remittances 2023 | 1.2% of GDP (2023 est.) |
| Remittances 2022 | 1% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 2.5% (2022 est.) |
| Highest 10% | 28.7% (2022 est.) |
| Average household expenditures | |
| On food | 19.4% of household expenditures (2023 est.) |
| On alcohol and tobacco | 5.5% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $58.491 billion (2024 est.) |
| Imports 2023 | $57.899 billion (2023 est.) |
| Imports 2022 | $62.916 billion (2022 est.) |
| Imports (partners) | Germany 13%, Poland 13%, Latvia 8%, USA 7%, Norway 5% (2023) |
| Comodities Imports force | crude petroleum, cars, natural gas, packaged medicine, plastic products (2023) |
| Exports | |
| Imports 2024 | $58.491 billion (2024 est.) |
| Imports 2023 | $57.899 billion (2023 est.) |
| Imports 2022 | $62.916 billion (2022 est.) |
| Exports (partners) | Latvia 11%, Poland 8%, Germany 7%, Netherlands 6%, Russia 6% (2023) |
| Comodities Exports force | refined petroleum, furniture, plastic products, wheat, cars (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $136.227 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $132.552 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $132.099 billion (2022 est.) |
| GDP (official exchange rate) | $84.869 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $47,200 (2024 est.) |
| Real GDP per capita 2023 | $46,200 (2023 est.) |
| Real GDP per capita 2022 | $46,700 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 2.6% (2024 est.) |
| Industry | 23.4% (2024 est.) |
| Services | 63.6% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 57.3% (2023 est.) |
| Government consumption | 17.3% (2023 est.) |
| Investment in fixed capital | 23.7% (2023 est.) |
| Investment in inventories | -1.8% (2023 est.) |
| Exports of goods and services | 76.5% (2023 est.) |
| Imports of goods and services | -72.6% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 7.6% (2024 est.) |
| Unemployment rate 2023 | 6.9% (2023 est.) |
| Unemployment rate 2022 | 6% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 14.1% (2024 est.) |
| Male | 16.3% (2024 est.) |
| Female | 11.7% (2024 est.) |
All Important Facts about Lithuania
Want to know more about Lithuania? Check all different factbooks for Lithuania below.
