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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
GDP66.45 bn USD23,723.34 USD17.177 tn USD33,384.92 USD
Gross national product60.88 bn USD21,737.83 USD16.895 tn USD32,835.37 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 debt29.02 bn USD10,360.52 USD15.068 tn USD29,285.70 USD
Budget deficit655.93 m USD234.19 USD799.24 bn USD1,553.35 USD


Imports and Exports 2021

 Lithuania
Total
Lithuania
per capita
EU
Total
EU
per capita
Imports49.80 bn USD17,781.40 USD8.916 tn USD17,329.02 USD
Exports52.57 bn USD18,770.03 USD9.554 tn USD18,569.19 USD


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

Exports
Imports



Lithuania: AirportsThe 3 airports in LithuaniaThe 3 biggest airports in Lithuania
Lithuania: Public HolidaysPublic holidays in Lithuania 2023-2027Statutory and inofficial holidays in Lithuania for 2023 to 2027
Pariah StatesList of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.