Indicators of economy in Lithuania
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Lithuania, on the other hand, reached USD 23,723 per capita, or 66.45 billion USD for the whole country. Lithuania is therefore currently ranked 79 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Lithuania ranks 36th in the list of the richest countries.Inflation in Lithuania in 2021 was around 4.68%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 38.5 percent lower.
The index for perceived corruption in the public sector is 61, which is rather mediocre by global standards.
Back to overview: Lithuania
Impact of the COVID-19 pandemic
Overall, the gross domestic product in Lithuania in 2020 increased from 54.75 billion US dollars to 56.85 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 3.8 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 percent. The inflation rate fell from 2.3 percent previously to 1.2 percent by the end of 2020.Unemployment rates in percentages 1991 - 2021
Economic performance 2021
Lithuania Total | Lithuania per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 66.45 bn USD | 23,723.34 USD | 17.177 tn USD | 33,384.92 USD |
Gross national product | 60.88 bn USD | 21,737.83 USD | 16.895 tn USD | 32,835.37 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 gross domestic product in billions of USD 1995 - 2021
Household debt and deficits 2021
Lithuania Total | Lithuania per capita | EU Total | EU per capita | |
---|---|---|---|---|
Gross debt | 29.02 bn USD | 10,360.52 USD | 15.068 tn USD | 29,285.70 USD |
Budget deficit | 655.93 m USD | 234.19 USD | 799.24 bn USD | 1,553.35 USD |
› Debt budget development
› Development of inflation
› Corruption in Lithuania
› Cost of living in a global comparison
› Development of inflation
› Corruption in Lithuania
› Cost of living in a global comparison
Imports and Exports 2021
Lithuania Total | Lithuania per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 49.80 bn USD | 17,781.40 USD | 8.916 tn USD | 17,329.02 USD |
Exports | 52.57 bn USD | 18,770.03 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in billions of USD 1993 - 2021
Exports
Imports