Lithuania - Statistics & Facts

Published by H. Plecher, Jul 13, 2018
Lithuania is a small country located in Eastern Europe, bordering a total of four countries. It has a population of around 2.8 million people, and its capital, Vilnius, its home to roughly half a million of them. Although Lithuania was among the most fertile countries in Europe in 2015 with an average of 1.7 children per woman, the country's population growth has been on a decline since 2005. In addition to the negative population growth, Lithuania was among the European countries that had the highest death rates in 2015, experiencing 14.4 deaths per 1,000 people.

The Republic of Lithuania was annexed by the USSR in 1940, and it was part of the Soviet Union until 1990, when it gained its independence. Lithuania was the first Soviet state to declare their independence, an act that was recognized by Moscow only a year and a half later. It joined the NATO and the EU in 2004, and adopted the euro as its national currency in January 2015. Besides Lithuanian, which is the official language, Russian and Polish are spoken in the country as well.

Changing from a planned economy while being in the USSR to a free market economy right after it became an independent state, Lithuania struggled to gain financial stability during this transitional period. Another financial slump occurred during the 2008-2009 economic crisis, when Lithuania’s economy took a severe hit, but quickly rebounded; today, real GDP growth has slumped after soaring in 2017, but is expected to recover again soon. The services sector accounts for the lion's share generation of GDP, whereas the industry sector account for almost a third, and agriculture's share is more or less negligible. The textiles industry and the beer industry are amid the most productive industries, financially speaking. In 2016, Lithuania exported textiles worldwide worth 567 U.S. million dollars.

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Lithuania

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Economy

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