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Economy and Banking Sector of Lithuania

National Currency

Euro (EUR)

Lithuania joined the Euro Area on 1 January 2015. The preceding national currency, Lithuanian litas (LTL), was replaced by Euro.

GDP

Nominal GDP (2018)
45.1 bln EUR  (+0.07%)
Nominal GDP per Capita (2018)
16,100 EUR  (+0.08%)
Real GDP Growth (2018)
3.5 %  (2017: 3.8 %)

According to Eurostat, nominal GDP of Lithuania in 2018 was 45.1 bln EUR.

Lithuania outperforms the European Union in terms of real GDP growth with the average annual differential coming to 0.7% over the past 10 years (2008 - 2018). In 2018 real GDP growth was 3.5% which was above the Euro Area average (1.9%) and above the European Union average (2.0%). Real GDP growth in 2019 - 2024 are IMF's estimates.

Real GDP Growth in Lithuania.

Chart 1. Real GDP Growth in Lithuania. Source: Eurostat, International Monetary Fund.

In 2018, nominal GDP per capita in Lithuania was 16,100 EUR.

Lithuania has a below-average level of wealth in terms of per-capita GDP at purchasing power parity (PPP); this economic welfare indicator has, on average, fell behind that of the European Union by -14.8% over the past 10 years (2007 - 2017). GDP per capita at PPP in 2018 - 2024 are IMF's estimates.

GDP Per Capita at Purchasing Power Parity in  Lithuania; European Union = 100.

Chart 2. GDP Per Capita at Purchasing Power Parity in Lithuania; European Union = 100.

Inflation Rate

CPI, MoM (Apr 2019)
0.9 % (unchanged)
CPI, YoY (Apr 2019)
2.7 %  (Mar 2019: 2.6 %)
CPI, Year Average (2018)
2.5 %  (2017: 3.7 %)

According to Eurostat, inflation rate in Lithuania in 2018 expressed as annual percentages of average consumer prices was 2.5% which was above the Euro Area average (1.8%) and above the European Union average (1.9%). Inflation rates in 2019 - 2024 are IMF's estimates.

Inflation Rate in Lithuania.

Chart 3. Inflation Rate in Lithuania. Source: Eurostat, International Monetary Fund.

Unemployment Rate

Unemployment Rate (2018)
6.2 %  (2017: 7.1 %)

According to Eurostat, unemployment rate in Lithuania in 2018 was 6.2% which was below the Euro Area average (8.2%) and below the European Union average (6.8%). Unemployment rates in 2019 - 2024 are IMF's estimates.

Unemployment Rate in Lithuania.

Chart 4. Unemployment Rate in Lithuania. Source: Eurostat, International Monetary Fund.

Government Bond Yield

Government Bond Yield (Mar 2019)
0.31 % (unchanged)

According to Eurostat, government bond yield in Lithuania in March 2019 was 0.31%, compared to 0.31% in February 2019.

Government bond yield of Lithuania.

Chart 5. Government bond yield of Lithuania. Source: Eurostat.

Credit Ratings (as of May 2018)

Fitch
A- (high credit quality), outlook stable
Moody's
A3 (upper medium grade), outlook stable

Lithuania has sovereign credit ratings assigned by Fitch and Moody's: the rating set by Fitch is A- (high credit quality), outlook stable; the rating set by Moody's is A3 (upper medium grade), outlook stable.