Skyline in Lithuania

Lituania Economy

Lithuania's economy in numbers:

Nominal GDP of USD 70.8 billion in 2022.

GDP per capita of USD 25,149 compared to the global average of USD 10,589.

Average real GDP growth of 3.4% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2021, services accounted for 71% of overall GDP, manufacturing 16%, other industrial activity 10%, and agriculture 3%. Looking at GDP by expenditure, private consumption accounted for 59% of GDP in 2021, government consumption 18%, fixed investment 19%, and net exports 4%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2021, manufactured products made up 66% of total merchandise exports, mineral fuels 10%, food 16%, ores and metals 3% and agricultural raw materials 3%, with other categories accounting for 2% of the total. In the same period, manufactured products made up 64% of total merchandise imports, mineral fuels 17%, food 11%, ores and metals 3% and agricultural raw materials 3%, with other goods accounting for 2% of the total. Total exports were worth USD 47 billion in 2022, while total imports were USD 55 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 3.4% in the decade to 2022. To read more about GDP growth in Lithuania, go to our dedicated page.

Fiscal policy:

Lithuania's fiscal deficit averaged 1.2% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment:

The unemployment rate averaged 8.6% in the decade to 2022. For more information on Lithuania's unemployment click here.

Inflation:

Inflation averaged 3.4% in the decade to 2022. Go to our Lithuania inflation page for extra insight.

Monetary Policy:

Euro Area monetary policy rate ended 2022 at 2.50%, up from 0.75% a decade earlier. See our Lithuania monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the euro weakened by 18.2% vs the U.S. dollar. For more info on the euro, click here.
Economic growth was likely robust year on year in Q4. Inflation cooled sharply in the quarter, returning to its pre-pandemic average. Moreover, retail sales were stable in October–November and consumer confidence strengthened in December. Additionally, the downturn in the industrial sector softened on average in October–November compared to Q3. Nevertheless, external demand likely remained weak: Merchandise exports contracted heavily in October–November. In other news, Estonia, Latvia and Lithuania signed an agreement in January to reinforce defense infrastructure along the border with Belarus and Russia. Moreover, Lithuania will hold joint military exercises with Poland along their shared border and recently approved plans to restructure the army and acquire Leopard 2 tanks. These developments bode well for the country’s defense capacity and will likely boost public spending ahead.
Projections out to 2033.

46 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 16 expert analysts.

Want to get insight on the economic outlook for Lithuania in the coming years? FocusEconomics collects projections out to 2033 on 46 economic indicators for Lithuania from a panel of 16 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Lithuania economy. To download a sample report on the Lithuania's economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

Lituania Datos económicos

2018 2019 2020 2021 2022
Población (millones) 2.8 2.8 2.8 2.8 2.8
PIB (en millones de dólares) 53.8 54.7 56.5 65.5 -
PIB per cápita (USD) 19,192 19,579 20,215 23,385 -
PIB (en millones de euros) 45.6 48.9 49.7 56.1 67.1
PIB per cápita (EUR) 16,264.0 17,519.2 17,789.8 20,031.0 23,694.4
Crecimiento económico (PIB nominal, var. anual) 7.9 7.4 1.6 12.9 19.5
Crecimiento económico (PIB, var. anual) 4.0 4.6 0.1 5.9 1.9
Demanda interna (% var. anual) 3.4 1.3 -4.0 7.3 0.9
Consumo privado (% var. anual) 3.6 2.7 -2.4 8.0 0.5
Consumo público (var. anual) 0.2 -0.3 -1.4 0.8 0.3
Inversión fija (% var. anual) 10.0 6.6 -0.2 7.8 2.6
Exportaciones (G&S, % var. anual) 6.8 10.1 0.4 17.0 11.3
Importaciones (G&S, % var. anual) 6.0 6.0 -4.5 19.9 11.1
Producción industrial (% var. anual) 5.6 3.3 -1.3 19.4 10.3
Ventas al por menor (% var. anual) 6.5 5.5 2.9 12.9 1.6
Salarios (% var. anual) 9.9 40.2 10.1 10.5 13.3
Desempleo (% de la población activa, aop) 6.2 6.3 8.5 7.2 6.0
Saldo fiscal (% del PIB) 0.5 0.5 -7.0 -1.0 -
Deuda pública (% del PIB) 33.7 35.8 46.3 43.7 -
Dinero (var. anual de M2 %) 11.4 10.4 25.8 18.4 12.5
Inflación (IPC, % var. anual, eop) 1.9 2.7 0.2 10.6 21.7
Inflación (IPCA, % var. anual, eop) 1.8 2.7 -0.1 10.7 20.0
Inflación (IPCA, % var. anual, aop) 2.5 2.2 1.1 4.6 18.9
Inflación (IPP, % var. anual, aop) 5.6 -0.1 -8.9 9.5 25.9
Rendimiento de los bonos a 10 años (%, eop) 0.31 0.31 0.16 0.16 2.88
Tipo de cambio (USD por EUR, eop) 1.14 1.12 1.22 1.14 1.07
Tipo de cambio (USD por EUR, aop) 1.18 1.12 1.14 1.18 1.05
Balanza por cuenta corriente (en millones de euros) 0.1 1.7 3.6 0.6 -2.8
Balanza por cuenta corriente (% del PIB) 0.3 3.5 7.3 1.1 -4.1
Balanza comercial de mercancías (en millones de euros) -2.8 -2.3 -0.4 -2.9 -7.4
Exportaciones de mercancías (en millones de euros) 24.6 26.0 25.5 31.6 41.3
Importaciones de mercancías (en millones de euros) 27.4 28.3 25.9 34.5 48.7
Exportaciones de mercancías (% var. anual) 7.9 5.7 -1.6 23.9 30.4
Importaciones de mercancías (% var. anual) 10.4 3.3 -8.3 33.2 40.9
Inversión extranjera directa (en millones de euros) 0.9 2.7 2.9 1.8 -
Deuda externa (en millones de euros) 35.6 34.3 40.2 44.6 45.3
Deuda externa (% del PIB) 78.2 70.0 80.9 79.4 67.6

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