Flag description:
three equal horizontal bands of yellow (top), green, and red
Economy Lithuania
Economy - overview:
Lithuania, the Baltic state that has conducted the most trade with
Russia, has slowly rebounded from the 1998 Russian financial crisis.
Unemployment remains high, still 10.7% in 2003, but is improving.
Growing domestic consumption and increased investment have furthered
recovery. Trade has been increasingly oriented toward the West.
Lithuania has gained membership in the World Trade Organization and
has moved ahead with plans to join the EU. Privatization of the
large, state-owned utilities, particularly in the energy sector, is
nearing completion. Overall, more than 80% of enterprises have been
privatized. Foreign government and business support have helped in
the transition from the old command economy to a market economy.
GDP:
purchasing power parity - $40.88 billion (2003 est.)
GDP - real growth rate:
9% (2003 est.)
GDP - per capita:
purchasing power parity - $11,400 (2003 est.)
GDP - composition by sector: agriculture: 6.1% industry: 31.3% services: 62.6% (2003 est.)
Investment (gross fixed):
20.8% of GDP (2003)
Population below poverty line:
NA
Household income or consumption by percentage share: lowest 10%: 3.1% highest 10%: 25.6% (1996)