Economy overview: Lithuania, a Baltic state that trades extensively with Russia, has been in recession since the Russian financial crisis in August 1998. High unemployment and weak consumer demand are hindering the recovery of the economy. GDP in 2000 grew by 2.9% (less than in Latvia and Estonia), unemployment is estimated at 10.8% (the highest level since the restoration of independence in 1990). In 2001, growth of 3.2% is predicted, inflation – 1.8%, budget deficit – 3.3%. In early 2001, the Lithuanian government announced that it would be possible to peg the local currency, the litas, to the euro (as long as the litas is pegged to the dollar) during 2002. Lithuania must ratify 25 agreements, along with other legal documents and commitments, by May 1, 2001, to become a member of the WTO. In December 1999 At the EU summit in Helsinki, Lithuania received an invitation to start (in early 2000) negotiations on joining the EU. Privatization of large state-owned enterprises, especially in the energy sector, remains a key challenge for 2001. See cheeroutdoor.com to know more about Lithuania Business.
GDP: at purchasing power parity – $26.4 billion (2000 est.).
Real GDP growth rate: 2.9% (2000 est.).
GDP per capita: at purchasing power parity – $7,300 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 10%; industry: 33%; services: 57% (1999 est.).
Proportion of the population below the poverty line: no data available.
Percent distribution of household income or consumption: per 10% of the poorest families: 3.1%; by the top 10% of families: 25.6% (1996).
Inflation rate at consumer prices: 1% (2000 est.).
Labor force: 2 million people (2000 est.).
Employment structure: industry 30%, agriculture 20%, services 50% (1997 est.).
Unemployment rate: 10.8% (2000).
Budget: revenues: $1.5 billion; expenditures: $1.7 billion, including capital expenditures – NA (1997 est.).
Spheres of economy: production of machine tools, electric motors, televisions, refrigerators and freezers, oil refining, shipbuilding (small vessels), furniture and textile production, food industry, production of fertilizers, agricultural machinery, optical instruments, electronic components, computers, mining and processing of amber.
Growth in industrial production: 2.3% (2000 est.).
Electricity generation: 13.567 billion kWh (1999)
Sources of electricity generation: fossil fuels: 23.89%; hydropower: 3.43%; nuclear fuel: 72.68%; others: 0% (1999).
Electricity consumption: 9.817 billion kWh (1999)
Electricity export: 3.2 billion kWh (1999).
Electricity import: 400 million kWh (1999).
Agricultural products: grain, potatoes, sugar beets, flax, vegetables; beef, milk, eggs; fish.
Export: $3.7 billion (free on board, 2000)
Export items: machinery and equipment 22%, minerals 15%, chemicals 12%, textiles and clothing, food (1999).
Export partners: Germany 15.8%, Latvia! 2.6%, Russia 6.9%, Belarus 5.8%, Denmark (1999).
Import: $4.9 billion (free on board, 2000).
Imports: machinery and equipment 18%, minerals 16%, chemicals 10%, textiles and clothing 10%, transport equipment 7% (1999).
Import partners: Russia 20.4%, Germany 16.5%, Denmark 3.8%, Belarus 2.2%, Latvia 2% (1999).
External debt: $2.5 billion (2000 est.) Economic aid recipient: $228.5 million (1995)
Donor of economic aid:
Currency code: LTL
Exchange rate: LTL/USD -4,000 (fixed rate from May 1, 1994).
Fiscal year: calendar year.
Telecommunications Telephone lines: 1.048 million (1997).
Mobile cellular telephones: 297,500 (1998).
Telephone system: unsatisfactory, but the modernization of the means of providing international communication has begun and the quality of the services provided is improving; internal: the organization of national long-distance communication via fiber optic cable ends; rural communications are improving and expanding; mobile cellular networks are being deployed; Internet access is satisfactory; many unsatisfied applications for the installation of telephones; international: land lines connect the country with Latvia and Poland; the main international connection is with Denmark, Sweden and Norway via submarine cable and further via satellite.
Broadcast stations: AM – 3, FM -112, shortwave – 1 (1998).
Radio receivers: 1.9 million (1997)
Television broadcast stations: 82 (predominantly repeaters) (1998).
Televisions: 1.7 million (1997)
Internet Country Code: lt
Internet Service Providers: 14 (2000).
Number of users: 225,000 (2000).
Transport Railways: total: 2,002 km; broad gauge: 2,002 km (1.524 m gauge) (122 km electrified) (1994).
Roads: total: 44,000 km; paved: 35,500 km (including 417 km of expressways); unpaved: 8,500 km (2000).
Waterways: 600 km of rivers are navigable.
Pipelines: for crude oil – 105 km; for natural gas – 760 km (1992).
Ports and harbours: Butinge, Kaunas, Klaipeda.
Merchant navy: total: 50 ships (displacement 1,000 tons or more) with a total displacement of 293,168 gross register tons / 327,827 long tons of gross tonnage; ships of various types: cargo ships – 26, combined dry cargo ships – 10, oil tankers – 2, ships for the transport of railway wagons – 1, refrigerated ships – 7, ferries – 1, coastal passenger ships – 3 (2000 est.).
Airports: 72 (2000 est.).
Airports with paved runways: total: 9; over 3047 m:2; from 1,524 to 2,437 m: 4; less than 914 m: 3 (2000 est.).
Airports with unpaved runways: total: 63; from 1524 to 2437 m:3; from 914 to 1523 m:5; less than 914 m: 55 (2000 est.).
Branches of the armed forces: ground forces, navy, air force, air defense, security forces (internal and border troops), national guard (Skat).
Enlistment age: 18 years old.
Total Military Manpower: Male 15 to 49: 929,389 (2001 est.).
Eligible for military service: men aged 15 to 49: 730,363 (2001 est.).
Number of persons reaching military age each year: male: 28,506 (2001 est.).
Military spending in dollar terms: $181 million (1999)
Military spending as part of GDP: 1.66% (2000).
International Issues International Disputes: Latvia has not ratified the 1998 Maritime Boundary Agreement (whose main objective is to regulate oil production rights); the border treaty signed with Russia in 1997 has not yet been ratified by Russia.
Illicit Drugs: Transit point for opiates and other illicit drugs from Southwest Asia, Latin America and Western Europe on their way to Western Europe and Scandinavia.