Lithuania (2008) | Lithuania (2007) | |
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Budget | revenues: $12.36 billion
expenditures: $12.54 billion (2007 est.) |
revenues: $10.05 billion
expenditures: $10.12 billion (2006 est.) |
Coastline | 99 km | 90 km |
Debt - external | $22.7 billion (30 June 2007) | $16.2 billion (2006 est.) |
Economy - overview | Lithuania, the Baltic state that has conducted the most trade with Russia, has grown rapidly since rebounding from the 1998 Russian financial crisis. Unemployment fell to 3.2% in 2007, while wages continued to grow at double digit rates, contributing to rising inflation. Exports and imports also grew strongly, and the current account deficit rose to nearly 15% of GDP in 2007. Trade has been increasingly oriented toward the West. Lithuania has gained membership in the World Trade Organization and joined the EU in May 2004. Privatization of the large, state-owned utilities is nearly complete. Foreign government and business support have helped in the transition from the old command economy to a market economy. | Lithuania, the Baltic state that has conducted the most trade with Russia, has grown rapidly since rebounding from the 1998 Russian financial crisis. Unemployment fell to 3.7% in 2006, while wages grew 17.6%, contributing to rising inflation. Exports and imports continue to grow strongly, and the current account deficit rose to nearly 10% of GDP in 2006. Trade has been increasingly oriented toward the West. Lithuania has gained membership in the World Trade Organization and joined the EU in May 2004. Privatization of the large, state-owned utilities is nearly complete. Foreign government and business support have helped in the transition from the old command economy to a market economy, but foreign direct investment declined in 2006. |
Exchange rates | litai per US dollar - 2.5362 (2007), 2.7498 (2006), 2.774 (2005), 2.7806 (2004), 3.0609 (2003) | litai per US dollar - 2.7498 (2006), 2.774 (2005), 2.7806 (2004), 3.0609 (2003), 3.677 (2002) |
GDP - composition by sector | agriculture: 5.2%
industry: 34.2% services: 60.6% (2007 est.) |
agriculture: 5.5%
industry: 35% services: 59.6% (2006 est.) |
GDP - real growth rate | 8% (2007 est.) | 7.5% (2006 est.) |
Industrial production growth rate | 5.5% (2007 est.) | 7% (2006 est.) |
Inflation rate (consumer prices) | 5.4% (2007 est.) | 3.8% (2006 est.) |
International organization participation | ACCT (observer), Australia Group, BA, BIS, CBSS, CE, EAPC, EBRD, EIB, EU, FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITU, ITUC, MIGA, NATO, NIB, NSG, OIF (observer), OPCW, OSCE, PCA, Schengen Convention, UN, UNCTAD, UNESCO, UNIDO, UNOMIG, UNWTO, UPU, WCL, WCO, WEU (associate partner), WHO, WIPO, WMO, WTO | ACCT (observer), Australia Group, BA, BIS, CBSS, CE, EAPC, EBRD, EIB, EU, FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO (correspondent), ITU, ITUC, MIGA, NATO, NIB, NSG, OIF (observer), OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCL, WCO, WEU (associate partner), WHO, WIPO, WMO, WTO |
Labor force | 1.587 million (2007 est.) | 1.588 million (2006 est.) |
Legislative branch | unicameral Parliament or Seimas (141 seats; 71 members are elected by popular vote, 70 are elected by proportional representation; to serve four-year terms)
elections: last held 10 and 24 October 2004 (next to be held in October 2008) election results: percent of vote by party - Labor 28.6%, Working for Lithuania (Social Democrats and Social Liberals) 20.7%, TS 14.6%, For Order and Justice (Liberal Democrats and Lithuanian People's Union) 11.4%, Liberal and Center Union 9.1%, Farmers and New Democracy Union 6.6%, other 9%; seats by faction - Social Democrats 32, TS 25, Labor 23, Farmers National Union 20 (combined with Civil Democracy), Liberal Democrats/Order and Justice 11, New Union Social Liberals 10, Liberal and Center Union 9, Liberal Movement 9 (as of December 2007) |
unicameral Parliament or Seimas (141 seats; 71 members are elected by popular vote, 70 are elected by proportional representation; to serve four-year terms)
elections: last held 10 and 24 October 2004 (next to be held in October 2008) election results: percent of vote by party - Labor 28.6%, Working for Lithuania (Social Democrats and Social Liberals) 20.7%, TS 14.6%, For Order and Justice (Liberal Democrats and Lithuanian People's Union) 11.4%, Liberal and Center Union 9.1%, Farmers and New Democracy Union 6.6%, other 9%; seats by faction - Labor 29, Homeland Union 26, Social Democrats 23, Civil Democracy (split from Labor) 11, Liberal Movement (formerly Liberal Political Group) 11, National Farmer's Union (formerly Farmers and New Democracy Union) 11, Social Liberal 10, Liberal Democrats 9, Liberal and Center Union 8, independents 3 (as of late-July 2006) |
Pipelines | gas 1,695 km; oil 228 km; refined products 121 km (2007) | gas 1,696 km; oil 228 km; refined products 121 km (2006) |
Political parties and leaders | Civil Democracy Party or PDP [Viktor MUNTIANAS]; Electoral Action of Lithuanian Poles [Valdemar TOMASZEVSKI]; National Farmer's Union or VLS [Kazimiera PRUNSKIENE]; Homeland Union/Conservative Party or TS [Andrius KUBILIUS]; Labor Party or DP [Viktor USPASKICH]; Liberal and Center Union [Arturas ZUOKAS]; Liberal Democrats/Order and Justice Party or TT [Rolandas PAKSAS]; Liberal Movement or LLS [Petras AUSTREVICIUS]; Social Democratic Party or LSDP [Gediminas KIRKILAS]; Social Liberal/New Union [Arturas PAULAUSKAS]; Young Lithuania and New Nationalists [Stanislovas BUSKEVICIUS] | Civil Democracy Party [Viktor MUNTIANAS]; Electoral Action of Lithuanian Poles [Valdemar TOMASZEVSKI]; National Farmer's Union [Kazimiera PRUNSKIENE]; Homeland Union/Conservative Party or TS [Andrius KUBILIUS]; Labor Party [Kestutis DAUKSYS]; Liberal and Center Union [Arturas ZUOKAS]; Liberal Democratic Party [Rolandas PAKSAS]; Liberal Movement [Petras AUSTREVICIUS]; Lithuanian Christian Democrats or LKD [Valentinas STUNDYS]; Lithuanian People's Union for a Fair Lithuania [Julius VESELKA]; Lithuanian Social Democratic Party [Algirdas BRAZAUSKAS]; Social Liberal/New Union [Arturas PAULAUSKAS]; Social Union of Christian Conservatives [Gediminas VAGNORIUS]; Young Lithuania and New Nationalists [Stanislovas BUSKEVICIUS] |
Telephone system | general assessment: adequate; being modernized to provide improved international capability and better residential access
domestic: rapid expansion of mobile-cellular services has resulted in a steady decline in the number of main line subscriptions; mobile-cellular teledensity has increased to about 135 per 100 persons while fixed-line teledensity has dropped to 22 per 100 persons international: country code - 370; major international connections to Denmark, Sweden, and Norway by submarine cable for further transmission by satellite; landline connections to Latvia and Poland |
general assessment: inadequate, but is being modernized to provide an improved international capability and better residential access
domestic: a national, fiber-optic cable, interurban, trunk system is nearing completion; rural exchanges are being improved and expanded; mobile cellular systems are being installed; access to the Internet is available; still many unsatisfied telephone subscriber applications international: country code - 370; landline connections to Latvia and Poland; major international connections to Denmark, Sweden, and Norway by submarine cable for further transmission by satellite |
Unemployment rate | 3.2%
note: based on survey data, official registered unemployment of 5.7% (2007 est.) |
3.7%
note: based on survey data, official registered unemployment of 5.7% (2006 est.) |