Diplomatic representation from the US: chief of mission: Ambassador
John F. TEFFT
embassy: Akmenu 6, 2600 Vilnius
mailing address: American Embassy, Vilnius, PSC 78, Box V, APO AE 09723
telephone: [370] (2) 223-031
FAX: [370] (2) 227-236
Flag description: three equal horizontal bands of yellow (top), green, and red
Lithuania Economy
Economy - overview: Lithuania, the Baltic state that has conducted the most trade with Russia, has been slowly rebounding from the 1998 Russian financial crisis. High unemployment and weak consumption have held back recovery. GDP growth for 2000 - estimated at 2.9% - fell behind that of Estonia and Latvia, and unemployment is estimated at 10.8%, the country's highest since regaining independence in 1990. For 2001, Lithuanians forecast 3.2% growth, 1.8% inflation, and a fiscal deficit of 3.3%. In early 2001, the Lithuanian Government announced that it will repeg its currency, the litas, to the euro (the litas is currently pegged to the dollar) some time in 2002. Lithuania must ratify 25 agreements along with other legal documents and obligations by 1 May 2001 before gaining World Trade Organization membership. Lithuania was invited to the Helsinki summit in December 1999 and began EU accession talks in early 2000. Privatization of the large, state-owned utilities, particularly in the energy sector, remains a key challenge for 2001.
GDP: purchasing power parity - $26.4 billion (2000 est.)
GDP - real growth rate: 2.9% (2000 est.)