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The Lithuanian economy is based on the propriatory rights, on the freedom of personal economic activities and initiative. The state supports the economic activities and initiatives that are of public interests. The state regulates the economic activities insomuch as to subserve to the social welfare. The Law prohibits the monopoly of manufacture and market and protects the freedom ofthe honest competion (The Constitution of the Republic of Lithuania, Clause 46).
The aim of the Lithuanian economic policies is the steady macroeconomic enviroment – the low level of unemployment, steady prices, fast economic growth.

Currency
The national currency was reintroduced on June 25th 1993. EUR 1 is equal to LTL 3,4528.

Basic indicators of economical and social development in 2004-2009

  2004 2005 2006 2007 2008 2009
Population, end of period, thous. 3425,3 3403,3 3384,9 3366,4 3349,9 3329,0*
Unemployment rate, Labour force survey data, thous. 11,4 8,3 5,6 4,3 5,8 13,7
Average gross monthly earnings of employees in the whole economy, LTL 1149,3 1276,2 1495,7 1802,4 2151,7 2052,4*
Real earnings of employees in the whole economy as compared to corresponding period of previous year, % 104,9 106,8 114,9 117,0 110,1 92,7*
Infliation, % 2,9 3,0 4,5 8,1 8,5 1,3
Consumer price index compared to corresponding period of previous year 101,2 102,7 103,7 105,7 110,9 104,5
Index of agricultural production as compared to corresponding period of previous year, % 99,6 102,9 87,1 116,7 105,2 101,8**
Industrial production VAT and excise excluded at current prices, LTL mill. 34463 40883 46442 50907 62859 46554**
  as compared to corresponding period of previous year, %  111,3 107,0 106,5 102,4 105,5 85,4
Manufacturing production VAT and excise excluded at current prices, LTL mill. 28474 34718 39754 43231 53660 37763
  as compared to corresponding period of previous year, % 112,7 108,6 107,6 102,4 106,6 84,4
Manufacturing production, excluding refined petroleum products, VAT and excise excluded, at current prices, LTL mill. 21044 23771 28010 34584 36634 27221
  as compared to corresponding period of previous year, % 108,0 110,7 115,2 113,2 94,9 82,7
Electricity, gas, steam and air conditioning supply, VAT and excise excluded, at current prices, LTL mill. 5354 5481 5946 6878 8351 8235
  as compared to corresponding period of previous year, %  106,8 99,9 100,1 102,3 99,6 94,3**
Own-account work carried out at current prices, LTL mill. 5088,1 5989,3 7990,6 11136,6 12643,3 5942,1
  as compared to corresponding period of previous year, % 107,3 109,4 121,6 122,7 103,7 52,1
Turnover (VAT excluded) of retail trade enterprises, except those trading in motor vehicles and motorcycles at current prices, LTL mill. 15562 17994 20060 23929 27588 22118
  as compared to corresponding period of previous year, % 109,6 111,3 107,1 113,7 104,1 78,4
Turnover (VAT excluded) of enterprises engaging in wholesale and retail trade and repair of motor vehicles and motorcycles, LTL mill. 4051 4930 5956 7645 8200 4248
  as compared to corresponding period of previous year, % 106,4 126,6 123,5 125,6 103,5 54,7
Turnover (VAT excluded) of food and beverage service enterprises, LTL mill. 587 758 823 886 1055 898
  as compared to corresponding period of previous year, % 113,9 124,7 104,2 98,8 102,3 79,5
Exports of goods, LTL mill. 25819 32767 38888 43192 55511 40725
Imports of goods, LTL mill. 34384 43152 53275 61504 73006 45138
Balance, LTL mill. -8565 -10385 -14387 -18312 -17495 -4413
Gross domestic product at current prices, LTL mill. 62698 72060 82793 98669 111190 92353

* Provisional data
** Revised data
Information source: Department of Statistics to the Government of the Republic of Lithuania and Bloomberg.
AB bankas SNORAS
7 A.Vivulskio Str. LT-03221 Vilnius
Phone: + 370 5  232 7193
Fax: + 370 5  232 7300
E-mail: info@snoras.com
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