top of page

PROFILE: Lithuania



Practical Tips for doing Business in Lithuania

  • Lithuanians are very proud people, and they are especially proud of their country.

  • Companies to be hierarchical and major decisions are made from the top down.

  • Lithuanians are generally polite, have respect for others and expect the same behavior in return.

  • 30 percent of the entire population and 80 percent of the youth speak English.

  • First contacts are best made by email, followed by a phone call.

  • Lithuanians prefer to discuss business matters with someone of equal status.

  • Punctuality is highly valued.

  • Handshakes are the normal greeting.

  • Basketball is almost their second religion. Many NBA players come from there.

Brief History

  • 1236 - Lithuanian lands were united by King Mindaugas.

  • End of 14th century - Lithuania was the largest state in Europe.

  • 1386 - Lithuania and Poland merged - Polish-Lithuanian Commonwealth.

  • 1795 - Commonwealth ended - land was partitioned off to several countries.

  • End of World War I - Lithuania regained independence.

  • 1940 - Annexed by the USSR.

  • 1990 - Declared independence from USSR but was not recognized by USSR.

  • 1993 - Last of the Russian troops left.

  • 2004 - Joined EU and NATO.

  • 2015 - Joined the Eurozone.

General Information

  • Government Type - Semi Presidential Republic

  • Capital City - Vilnius

  • Literacy Rate - 99.97%

  • Size - Slightly larger than West Virginia

  • Population: 2.7M

  • Population Growth Rate - 1.04% (2023 est.)

  • Unemployment Rate - 7.9% (2021)

  • GDP - $54.6B (2019 est.)

  • GDP Growth Rate - 5.98% (2021)

  • Labor Force - 1.476M (2021 est.)

  • Labor Force Breakdown – Agriculture - 9.1%, Industry - 25.2%, Services - 65.84% (2019)

  • Major Industries - Very diverse economy, e.g., machine tools, motors, appliances, petroleum refining, shipbuilding, furniture etc.


International Trade


Total Product Exports (2021) - $54B


Major Product Exports (2021)

  • Mineral fuels, including oil - $4.2B

  • Furniture, bedding, lighting, signs, prefab buildings - $3.3B

  • Machinery, including computers - $2.9B

  • Electrical machinery, equipment - $2.7B

  • Plastic articles - $2.5B


Major Export Partners (2021)

  • Russia - 10.8%

  • Latvia - 9.4%

  • Germany - 8.2%

  • Poland - 7.9%

  • US - 6.3%

  • Netherlands - 5.1%

  • Estonia - 4.9%

  • Sweden - 4.4%

  • UK - 3.9%

  • Belarus - 3%


Total Product Imports (2021) - $44.6B


Major Product Imports (2021)

  • Mineral fuels, including oil - $7.5B

  • Machinery, including computers - $4.4B

  • Vehicles - $4B

  • Electric machinery, equipment - 3.6B

  • Plastics, plastic articles - 2.4B

Major Import Partners (2021)

  • Poland - $5.2B

  • Germany - $5.08B

  • Russia - $4.56B

  • Latvia - $3.35B

  • Netherlands - $2.2B

English Language Online News sites

Sampling of Lithuanian Companies

National Holidays

  • January 1 - New Year’s Day

  • February 16 - Restoration of the State Day

  • March 11 - Restoration of Independence Day

  • March 31, 2024 - Easter Sunday

  • April 1, 2024 - Easter Monday

  • May 1 - Labor Day

  • May 7, 2023 - Mother’s Day

  • June 4, 2023 - Father’s Day

  • June 24 - St. John's Day

  • July 6 - Anniversary of Coronation of King Mindaugas

  • August 15 - Assumption Day

  • November 1 - All Saints Day

  • November 2 - All Souls Day

  • December 24 - Christmas Eve

  • December 25 - Christmas Day

  • December 26 - Second Day of Christmas


By Paul Mastilak

InterMark3, Inc.

コメント


bottom of page