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Indicators of economy in Lithuania

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12.259 USD per capita. GDP in Lithuania, on the other hand, reached USD 23.433 per capita, or 65.50 billion USD in the whole country. Lithuania is therefore currently ranked 79 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Lithuania is in the list of the world's richest countries in place 34.

Inflation in Lithuania was in 2021 at around 4.68%. Within the EU, the average in the same year was 2.55%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 38.5% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Lithuania

Impact of the Covid-19 pandemic

Overall, the gross domestic product in Lithuania in 2020 increased from 54.70 billion US Dollar to 56.55 billion US Dollar. Certainly, there have been shifts in numerous sectors of the economy, but a 3.4 percent increase has been rather unusual this year. While most countries have suffered significant losses, Lithuania has certainly held its own. The unemployment rate rose from 6.3 to 8.5 percent. The country's gross debt increased by 34.3%. The inflation rate has fallen from 2.3 percent previously to 1.2 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2021

 Lithuania
Total
Lithuania
per capita
EU
Total
EU
per capita
GDP65.50 bn USD23,433.39 USD17.09 tn USD33,228.68 USD
Gross national product60.41 bn USD21,609.98 USD16.78 tn USD32,621.03 USD


Lithuania ranked 40th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea.

Development of the Gross domestic product in billion US Dollar 1995 - 2021


Household debt and deficits 2021


 Lithuania
Total
Lithuania
per capita
EU
Total
EU
per capita
Gross debt29.02 bn USD10,380.97 USD15.07 tn USD29,300.11 USD
Budget deficit655.93 m USD234.65 USD799.24 bn USD1,554.11 USD


Im- and Exports 2021

 Lithuania
Total
Lithuania
per capita
EU
Total
EU
per capita
Imports49.80 bn USD17,816.50 USD8,916.24 bn USD17,337.55 USD
Exports52.57 bn USD18,807.09 USD9,554.34 bn USD18,578.33 USD


Development of imports and exports in billions of USD 1993 - 2021

Exports
Imports



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