Economy of Lithuania

Common card · No. 239417

Lithuania is the largest and most diversified economy among the three Baltic states and as of 2026 with the economy slightly larger than that of Latvia and Estonia combined (both nominal and PPP). It is a member of the European Union and belongs to the group of very high human development countries and is a member of the WTO and OECD. In the 1990s, Lithuania rapidly moved from a centrally planned economy to a market economy, implementing numerous liberal reforms. It enjoyed high growth rates after joining the European Union along with the other Baltic states, leading to the notion of a Baltic Tiger. Lithuania's economy (GDP) grew more than 500 percent since regaining independence in 1990. The Baltic states have a combined workforce of 3.3 million people, with 1.5 million of these working people living in Lithuania. The country is one of the fastest growing economies in the EU. GDP growth reached its peak in 2008, and was approaching the same levels again in 2018. Similar to the other Baltic...

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