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Economy and Banking Sector of Lithuania

Lithuania
Location
Northern Europe
EU Status
member since 2004

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

Currency
EUR (Euro)
Population  (2017)
2 847 904  (-0.01%)
Nominal GDP (2017)
41.9 bln EUR  (+0.08%)
Credit Ratings (as of May 2018)
A-/A3

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

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).

Number of Banks
86
Consolidated Banking Assets (2017)
27 323.84 mln EUR  (+6.10%)
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.

See Also