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Lithuania - short facts

• Lithuania is a Baltic nation with 55 miles of coast with the Baltic Sea. On land, it has 4 neighboring countries: Latvia, Poland, Belarus, and the Russian exclave of Kaliningrad.
• Land area: 25,174 sq miles (65,200 km2)
• Population (2012): 2.986 million (growth rate: /0.28%)
• Capital: Vilnius, 539,939
• Monetary unit:Lithuanian litas
• Languages: Lithuanian

Economic summary:

• GDP/PPP (2012 est.): $42.25 billion; per capita $14,150.
• Real growth rate (2012): 3.7%
• Inflation (2013): 1%
• Unemployment (2014): 11.5%
• Labor force (2012):1.587 million
• Major trading partners: Germany, Latvia, Estonia, Russia, Netherlands, Poland, United Kingdom (2012).

Economic environment

Lithuania is a modern, dynamic North European country of high technologies and innovations. It's a country of unique cultural riches, smart and well-educated people, excellent strategic location and comparatively low labor costs.

Lithuanians are among the best educated EU citizens - more than 90 percent having secondary or higher education, over 30% - high education. Moreover, Lithuanians are among EU's most multilingual people - 90 percent speak at least one foreign language. Lithuanians are flexible, hard-working and creative people, known as innovators and authors of world-scale inventions, for example, in the fields of biotechnology, lasers and information technologies and communications.

Labor costs in Lithuania are attractive. The average hourly labor costs of industrial workers is 5.8 EUR:

If you have questions about Lithuania, do not hesitate to contact us.