LITHUANIA

The EU economy most resilient against Covid-19

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LOW RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD54bn (World ranking 83, World Bank 2019)
Population 2.8mn (World ranking 139, World Bank 2019)
Form of state Parliamentary Democracy 
Head of government Ingrida SIMONYTE (Prime Minister)
Next elections 2024, presidential and legislative
  • Low systemic political risk
  • Good international relations, EU and NATO membership
  • Eurozone membership provides for low transfer and convertibility risk
  • Sound public finances and access to international capital markets
  • Strong business environment
  • High external debt burden
  • The industry is dominated by one large refinery complex, Orlen Lietuva, which accounts for around 20% of total industrial output and a significant share in total exports
  • High export and import dependence on Emerging Markets, notably Russia (here especially on crude oil imports)

Trade structure by destination/origin

(% of total)

Exports Rank Imports
Russia 14%
1
18% Russia
Latvia 10%
2
11% Germany
Poland 10%
3
10% Poland
Germany 7%
4
9% Latvia
Estonia 6%
5
5% China

Trade structure by product

(% of total)

Exports Rank Imports
Refined Petroleum Products 16%
1
11% Crude Oil
Furniture 6%
2
6% Refined Petroleum Products
Plastic articles 5%
3
4% Plastic Articles
Fertilizers 4%
4
4% Pharmaceuticals
Other Edible Agricultural Prod 3%
5
3% Meat
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