Lithuania, a dynamic EU member, offers compelling B2B opportunities. This briefing provides a concise overview of key economic indicators for strategic decision-making.
Welcome to Lithuania: Business Numbers You Should Know
01
Section
The Big Picture
- Population (2023 Est.): 2.86 Million
- GDP (2023 Est.): €71.8 Billion
- GDP Per Capita (2023 Est.): €25,100
- Annual GDP Growth (2023 Est.): 2.2%
- Inflation Rate (CPI, 2023 Annual Avg.): 8.8%
- Currency: Euro (EUR)
- Key Economic Drivers: Information & Communication Technologies (ICT), Manufacturing, Financial Services
02
Section
Trade & Exports
- Total Exports (2023): €43.5 Billion
- Major Export Categories: Mineral Products, Machinery & Mechanical Appliances, Electrical Equipment, Chemical Products, Wood & Wood Articles, Foodstuffs
- Primary Export Partners: Latvia, Germany, Poland, United States, Estonia
- Total Imports (2023): €47.1 Billion
- Primary Import Partners: Germany, Poland, Latvia, Netherlands, Sweden
- Trade Balance (2023): -€3.6 Billion
- Port of Klaipėda Throughput (2023): 36.7 Million Tonnes
03
Section
Business Climate
- Corporate Income Tax Rate: 15% (standard); 0-5% for micro-companies
- VAT Rate: 21% (standard); reduced rates apply
- Ease of Doing Business Rank (2020, World Bank): 11th globally (Note: WB report discontinued, but indicative of strong framework)
- Foreign Direct Investment (FDI) Inflow (2023): €1.8 Billion
- Labour Force (2023): 1.45 Million
- Average Gross Monthly Salary (2023 Q4): €2,060
- R&D Expenditure (% of GDP, 2022): 1.1%
04
Section
Vilnius Specifics
- Vilnius City Population (2023 Est.): 580,000
- Vilnius Region GDP Share: Approximately 40% of national GDP
- Key Industries in Vilnius: ICT, Fintech, Business Services, Life Sciences, Tourism
- FDI Attractiveness (Vilnius): Consistently ranked high for greenfield FDI projects in Northern Europe
- Vilnius International Airport (VNO) Passenger Traffic (2023): 6.2 Million
- Start-up Ecosystem: Over 800 active start-ups, attracting significant venture capital
- Office Space Availability (Class A, Vilnius): Healthy supply with competitive rental yields globally
- Talent Pool: High concentration of skilled, multilingual professionals, particularly in tech and finance sectors located in or near Vilnius.