Lithuania

Wealth and National Well-Being

Country Comparisons: chart

World Factbook:

Lithuania 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 significant share of total trade. Foreign investment and business support have helped in the transition from the old command economy to a market economy. Lithuania's economy grew on average 8% per year for the four years prior to 2008 driven by exports and domestic demand. However, GDP plunged nearly 15% in 2009 - the three former Soviet Baltic republics were among the hardest hit by the 2008-09 financial crisis. In 2009, the government launched a high-profile campaign, led by Prime Minister KUBILIUS, to attract foreign investment and to develop export markets, and the government's steadfast commitment to broad economic reforms has been vital in Lithuania's quick recovery from a deep recession - GDP grew 1.3% in 2010 and jumped 5.8% in 2011, making Lithuania one of the fastest growing economies in the EU. However, unemployment - at 15.6% in 2011 - remains stubbornly high. Lithuania in 2011 also began to unbundle its energy networks in order to reduce its dependence on Russian energy.

Economic growth
2011: 5.8%
2010: 1.3%

Labor force in agriculture
2005: 14%

Unemployment rate
2011: 15.6%
2010: 17.8%

Export/import ratio
2011: 89.1% – negative balance

Exports
Mineral products 22%, machinery and equipment 10%, chemicals 9%, textiles 7%, foodstuffs 7%, plastics 7%

Public debt
2011: 37.7% of GDP
2010: 36.7% of GDP

Healthcare expenditures
2009: 7.8%

People

Living in urban area
2010: 67%

Migrations:
2012: A net loss of 0.73 persons per 1,000 population

Ethnic groups
2009: Lithuanian 84%, Polish 6.1%, Russian 4.9%, Belarusian 1.1%, other or unspecified 3.9%

Religion:
2001 census: Roman Catholic 79%, Russian Orthodox 4.1%, Protestant (including Lutheran and Evangelical Christian Baptist) 1.9%, other or unspecified 5.5%, none 9.5%

Geography

Eastern Europe, south of Latvia, west and north of Belarus, and north of Poland. 99 kilometers of coastline on the Baltic Sea.

Government

Chief of state: Dalia Grybauskait? (president) since 12 July 2009. Head of government: Andrius Kubilius (prime minister) since 9 December 2008, Homeland Union (center-right),

The Republic of Lithuania is a parliamentary democracy. The president is popularly elected for a five-year term and eligible for a second term. Parliament is unicameral, its members elected by popular vote for four year terms.

Capital: Vilnius.

Recent History.

Lithuania is the first of the Soviet republics to declare independence, on March 11, 1990.

1993 Russian troops finally withdraw.

2004: Lithuania joins the European Union and NATO.

April, 2010: To remedy its economic crisis, Lithuania has launched an austerity program that includes cutting public spending by 30 percent. And it has raised taxes. Unemployment has jumped to 14 percent, more retired people are going to soup kitchens, and suicides have increased to 35 for every 100,000 persons.

SOURCES:
http://www.cia.gov/cia/publications/factbook/