Lithuania boasts high economic growth but has a sizeable current account balance affecting its economic landscape.

Economic Structure

• Rapid growth following 1998 Russian financial crisis
• GDP: $28.57 billion
• Real GDP Growth: 8%
• Unemployment: 3.2%
• Rapid Real Wage Growth
• Inflation: 2.4% (2007 CPI est.)
• Current Account Balance: -9.2%

Demographic:

• Median Age
• Male: 36.4 years
• Female: 41.6 years
• Sex Ratio
• Under 15 years: 1.05 male(s)/female
• 15-64 years: 0.96 male(s)/female
• 65 years and over: 0.53 male(s)/female
• Income per Capita: $16,700
• 2008 population growth estimate is -.284%
• Literacy rate: 99.6% (for men and women)

Lithuania By Sector:

• Agriculture
• Changes from collectivization to private to capital-scaled farms
• Construction
• 15% annual growth
• Almost completely privatized
• Shift from Russian to domestic contracts
• Manufacturing
• Leather and Textiles are biggest manufacturing sectors
• Wood and Furniture growing the fastest
• Export to UK and Sweden (60% of exports to Sweden are for IKEA)
• Financial Services
• Consolidation: 9 commercial banks, 90% foreign capital
• Falling interest rates fuel strong growth

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