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 1996-2004
| |
1996 |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
2003 |
2004 |
| Population (average) thousand |
3601,6 |
3575,1 |
3549,3 |
3524,2 |
3499,5 |
3481,3 |
3469,1 |
3454,2 |
3435,7 |
| Unemployment (according to research data), % |
... |
14,1 |
13,2 |
14,6 |
16,4 |
17,4 |
13,8 |
12,4 |
11,4 |
| Inflation (in December 2004 compared to the data of December 2003) |
13,1 |
8,4 |
2,4 |
0,3 |
1,4 |
2,0 |
-1,0 |
-1,3 |
2,9 |
| Average monthly gross earnings by economic sector, LTL |
618,2 |
778,1 |
929,8 |
987,4 |
970,8 |
982,3 |
1013,9 |
1072,6 |
1157,8 |
| Average monthly net earnings by economic sector, LTL |
618,2 |
576,6 |
683,7 |
722,4 |
692,2 |
699,4 |
728,4 |
786,4 |
840,9 |
| Indices of the average monthly real earnings by economic sector, % |
103,3 |
113,4 |
112,8 |
104,9 |
94,9 |
99,7 |
103,8 |
109,3 |
105,6 |
| Average old-age pension, LTL |
192,43 |
242,62 |
287,82 |
310,16 |
312,54 |
317,61 |
323,05 |
340,50 |
371,55 |
| Price indices for total agricultural production at comparative prices, % |
112,6 |
108,6 |
94,8 |
85,5 |
105,4 |
94,6 |
108,0 |
108,9 |
102,01 |
| Price indices (excl. VAT and excise) for total industrial production at comparative prices, % |
... |
103,3 |
108,2 |
88,8 |
102,2 |
116,0 |
103,1 |
116,1 |
110,8 |
| Construction input price indices at comparative prices, % |
... |
117,2 |
115,9 |
89,5 |
82,2 |
107,5 |
121,8 |
126,8 |
104,9 |
| Indices of the turnover by retail trade incl. motor vehicles and motorcycles trade, repairs and maintenance, motor cars fuel trade, at comparative prices, % |
... |
... |
109,7 |
90,3 |
112,9 |
107,2 |
112,4 |
114,3 |
109,3 |
| Export, LTL, million |
10622 |
12801 |
12941 |
11015 |
14193 |
17117 |
19117 |
21263 |
25728 |
| Import, LTL, million |
15532 |
20098 |
21456 |
18508 |
20877 |
24241 |
27479 |
29438 |
34096 |
| Balance, LTL, million |
-4910 |
-7297 |
-8515 |
-7493 |
-6684 |
-7124 |
-8362 |
-8175 |
-8368 |
| Foreign direct investments in the beginning of the year, LTL, million |
1406,4 |
2801,2 |
4162,5 |
6501,2 |
8252,1 |
9337,3 |
10661,9 |
13183,8 |
13699,4 |
| GDP at current prices, LTL, million |
32290 |
39378 |
44377 |
43359 |
45526 |
48379 |
51643 |
56179 |
61897,7 |
| Changes of GDP at constant prices 2000, % |
4,7 |
7,0 |
7,3 |
-1,7 |
3,9 |
6,4 |
6,8 |
9,7 |
6,7 |
| GDP per capita at current prices, LTL t |
8965 |
11014 |
12503 |
12303 |
13009 |
13897 |
14887 |
16264 |
18016 | |
