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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 dropped from 11% in 2003 to 8% in 2004. 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 joined the EU in May 2004. 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. |
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| Economy Statistics |
| Exports: |
$8.88 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
mineral products 23%, textiles and clothing 16%, machinery and equipment 11%, chemicals 6%, wood and wood products 5%, foodstuffs 5% (2001) [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
Germany 10.2%, Latvia 10.2%, Russia 9.3%, France 6.3%, UK 5.3%, Sweden 5.1%, Estonia 5%, Poland 4.8%, Netherlands 4.8%, Denmark 4.8%, US 4.7%, Switzerland 4.6% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$11.02 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
mineral products 21%, machinery and equipment 17%, transport equipment 11%, chemicals 9%, textiles and clothing 9%, metals 5% (2001) [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Russia 23.1%, Germany 16.7%, Poland 7.7%, Netherlands 4% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Lithuanian Chamber of Commerce |
| Address: |
J.Tumo-Vaižganto g.9/1-63a, Vilnius, Lithuania |
| Phone: |
+370 (5) 2612102 |
| Fax: |
+370 (5) 2612102 |
| Website: |
http://www.chambers.lt/ |
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