Flag description: three equal horizontal bands of yellow (top), green, and red
Economy
Economy—overview: Lithuania has benefited from its disciplined approach to market reform and its adherence to strict fiscal and monetary policies imposed by the IMF, measures that have helped constrain the growth of the money supply, reduce inflation to 5.1%, and support GDP growth of 6% in 1997 and 4.5% in 1998. Foreign direct investment and the privatization program maintained their momentum in 1998. However, the current account deficit has hovered around 8% to 10% of GDP annually since 1995—the result of greater demand for consumer goods and falling growth in exports. Reducing this deficit is the immediate economic challenge for 1999.
GDP: purchasing power parity—$17.6 billion (1998 est.)
GDP—real growth rate: 4.5% (1998 est.)
GDP—per capita: purchasing power parity?$4,900 (1998 est.)
GDP—composition by sector: agriculture: 13% industry: 32% services: 55% (1997 est.)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%: 3.4% highest 10%: 28% (1993)
Inflation rate (consumer prices): 5.1% (1998 est.)