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.
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