Economy
Lithuania
Budget
revenues
$28.011 billion (2023 est.)
expenditures
$28.68 billion (2023 est.)
Exports
Exports 2022
$61.448 billion (2022 est.)
Exports 2023
$61.02 billion (2023 est.)
Exports 2024
$62.896 billion (2024 est.)
Imports
Imports 2022
$62.916 billion (2022 est.)
Imports 2023
$57.899 billion (2023 est.)
Imports 2024
$58.491 billion (2024 est.)
Industries
metal-cutting machinery, electric motors, televisions, refrigerators and freezers, petroleum refining, small shipbuilding, furniture production, textiles, food processing, fertilizers, agricultural equipment, optical instruments, lasers, electronic components, computers, amber jewelry, information technology, video game production, application/software development, biotechnology
Labor force
1.548 million (2024 est.)
Public debt
Public debt 2023
36.9% of GDP (2023 est.)
Remittances
Remittances 2022
1% of GDP (2022 est.)
Remittances 2023
1.2% of GDP (2023 est.)
Remittances 2024
1.2% of GDP (2024 est.)
Exchange rates
Currency
euros (EUR) per US dollar -
Exchange rates 2020
0.876 (2020 est.)
Exchange rates 2021
0.845 (2021 est.)
Exchange rates 2022
0.95 (2022 est.)
Exchange rates 2023
0.925 (2023 est.)
Exchange rates 2024
0.924 (2024 est.)
Economic overview
high-income EU and eurozone member, largest economy in the Baltic region; recovery is bolstered by private consumption and investments driven by EU funds; structural issues include pension reform, an aging workforce, and high costs for energy imports
Unemployment rate
Unemployment rate 2022
6% (2022 est.)
Unemployment rate 2023
6.9% (2023 est.)
Unemployment rate 2024
7.6% (2024 est.)
Exports - partners
Latvia 11%, Poland 8%, Germany 7%, Netherlands 6%, Russia 6% (2023)
Imports - partners
Germany 13%, Poland 13%, Latvia 8%, USA 7%, Norway 5% (2023)
Real GDP per capita
Real GDP per capita 2022
$46,700 (2022 est.)
Real GDP per capita 2023
$46,200 (2023 est.)
Real GDP per capita 2024
$47,200 (2024 est.)
Real GDP growth rate
Real GDP growth rate 2022
2.5% (2022 est.)
Real GDP growth rate 2023
0.3% (2023 est.)
Real GDP growth rate 2024
2.8% (2024 est.)
Agricultural products
wheat, milk, sugar beets, rapeseed, barley, potatoes, triticale, oats, beans, peas (2023)
Exports - commodities
refined petroleum, furniture, plastic goods, wheat, automobiles (2023)
Imports - commodities
crude petroleum, automobiles, natural gas, packaged pharmaceuticals, plastic goods (2023)
Current account balance
Current account balance 2022
-$4.322 billion (2022 est.)
Current account balance 2023
$878.388 million (2023 est.)
Current account balance 2024
$2.101 billion (2024 est.)
Taxes and other revenues
21.4% (of GDP) (2023 est.)
GDP (official exchange rate)
$84.869 billion (2024 est.)
GDP - composition, by end use
household consumption
57.3% (2023 est.)
government consumption
17.3% (2023 est.)
investment in inventories
-1.8% (2023 est.)
investment in fixed capital
23.7% (2023 est.)
exports of goods and services
76.5% (2023 est.)
imports of goods and services
-72.6% (2023 est.)
Population below poverty line
20.9% (2021 est.)
Average household expenditures
on food
19.4% of household expenditures (2023 est.)
on alcohol and tobacco
5.5% of household expenditures (2023 est.)
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2022
19.7% (2022 est.)
Inflation rate (consumer prices) 2023
9.1% (2023 est.)
Inflation rate (consumer prices) 2024
0.7% (2024 est.)
Industrial production growth rate
3.2% (2024 est.)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022
$132.099 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$132.552 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$136.227 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
16.3% (2024 est.)
total
14.1% (2024 est.)
female
11.7% (2024 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2022
$5.365 billion (2022 est.)
Reserves of foreign exchange and gold 2023
$6.168 billion (2023 est.)
Reserves of foreign exchange and gold 2024
$7.406 billion (2024 est.)
GDP - composition, by sector of origin
industry
23.4% (2024 est.)
services
63.6% (2024 est.)
agriculture
2.6% (2024 est.)
Household income or consumption by percentage share
lowest 10%
2.5% (2022 est.)
highest 10%
28.7% (2022 est.)
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2022
36.6 (2022 est.)