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Economy and Banking Sector of Lithuania

Northern Europe
EU Status
member since 2004

Located in Northern Europe, Lithuania is one of the Baltic States and a member of the European Union since 2004.


EUR (Euro)
Population  (2019)
2,794,184  (-0.01%)
Nominal GDP (2019)
48.4 bln EUR  (+0.07%)
Credit Ratings (as of Nov 2020)

Lithuania is a developed country with high-income economy. Main industries of Lithuanian economy are electronics, machinery, food processing, production of furniture and textiles.


Withholding tax rates in Lithuania are 0.0-15.0 %. Lithuania signed 55 double taxation agreements.
Lithuania signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2017.
Lithuania has FATCA agreement with the U.S. in effect since 26 August 2014 (Intergovernmental Agreement Model 1).

Banking Sector

Number of Banks
Consolidated Banking Assets (2019)
30,684.92 mln EUR  (+7.21%)
Deposit Guarantee
100,000 EUR

Lithuanian banking sector is relatively small, highly concentrated, with high share of foreign capital and is dominated by Scandinavian banks.

Major Banks

See Also

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