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Economy ::Lithuania
Economy - overview:
Lithuania's economy grew on average 8% per year for the four years prior to 2008, driven by exports and domestic consumer demand. Unemployment stood at 4.8% in 2008, while wages grew at double digit rates. The current account deficit rose to roughly 15% of GDP in 2007-08. Lithuania has gained membership in the World Trade Organization and joined the EU in May 2004. Despite Lithuania's EU accession, Lithuania's trade with its Central and Eastern European neighbors, and Russia in particular, accounts for a growing percentage of total trade. 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.
GDP (purchasing power parity):
$63.37 billion (2008 est.) country comparison to the world: 83 $61.52 billion (2007 est.)
$56.49 billion (2006 est.)
note: data are in 2008 US dollars
GDP (official exchange rate):