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 2020 was at about 10.912 US Dollar per capita. In contrast, the GDP in Lithuania reached 20.232 US dollars per inhabitant, or 56.55 bn US Dollar in the whole country. Lithuania is therefore currently ranked 81 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 37.Inflation in Lithuania was in 2021 at around 4.68%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 39.4% 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 in 2020
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 2020
Lithuania Total | Lithuania per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 56.55 bn USD | 20,232.30 USD | 15,291.93 tn USD | 29,710.69 USD |
Gross national product | 54.84 bn USD | 19,619.88 USD | 15,330.84 tn USD | 29,786.28 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 - 2020
Household debt and deficits 2021
Lithuania Total | Lithuania per capita | EU Total | EU per capita | |
---|---|---|---|---|
Gross debt | 29.02 bn USD | 10,382.59 USD | 15,068.26 tn USD | 29,276.12 USD |
Budget deficit | 655.93 m USD | 234.69 USD | 799.24 bn USD | 1,552.84 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
Im- and Exports 2020
Lithuania Total | Lithuania per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 36.37 bn USD | 13,014.27 USD | 7,340.01 bn USD | 14,260.90 USD |
Exports | 41.64 bn USD | 14,899.24 USD | 7,939.04 bn USD | 15,424.75 USD |
Development of imports and exports in billion US dollars 1993 - 2020
Exports
Imports