Let's get to know Lithuania better

2019 Key indicators:

GDP per capita  - 17.3 th.EUR
GDP Growth - 3.9%
Population - 2.8M
English proficiency level - 60.1
Higher education attainment - 45.8 (within 25-54 age group)

Member of NATO - since 2004
Members of EU - since 2004
Members of Eurozone - since 2015

Lithuania in rankings:

Ease of doing business 2019 -  11 (out of 19)
Corruption Perception index 2019 - 35 (out of 180)
Global Competitiveness report 2019 - 39 (out of 141)
NCSI National Cyber Security Index, 2020 - 4 (out of 152)
European Commission Digital and Society Index (DESI) 2017 - 13
Rank of countries with fastest internet in the world - 21 (out of 207)

Source: Statistics Lithuania; EF English proficiency index 2018; Eurostat 2017; The World Bank Economy Ranking; The Tax Foundation; Transparency International; World Economic Forum; Euromonitor International from national statistics.

Manufacturing sector

Many foreign companies have chosen Lithuania to establish production plants  or source production via local suppliers

Why is Lithuania attractive for production sector?
- A good level of English language and skills with high education level
- High quality IT infrastructure
- Good connectivity
- Attractive cost to productivity ratio
- High scores on global "Ease of doing business" rankings
Good quality of life for Expats
Main areas:
- Metal processing
- Wood processing
- Textile processing
- Food processing
- Construction services
- Furniture

Opportunities in Lithuania

The country has strong traditions within furniture, metal, machinery, plastics and electronics sectors.
Furniture is one of the most competitive and highly developed branches in Lithuania’s manufacturing industry, therefore Lithuania is a 5th biggest IKEA supplier in the world
The main export markets for Lithuanian manufacturers are Baltic neighbors, Nordic countries, Germany, Poland.
Lithuania coupled with its flexible, well-developed logistics networks, allows efficient delivery to the EU and the CIS markets. There are direct sea and air connections to Sweden which are important pre-requisites for ensuring trade strong and growing trade relations.
Free Economic Zone offer companies facilitated tax regimes; EU programs offer significant refunds for R&D activities HR training.

Financial sector

Lithuania - Europe's gateway for Fintech

 Vilnius is already home to a number of large U.S financial service companies, including Nasdaq, Western Union, and Moody‘s. Also, it has been the destination of choice for Scandinavian banking, with large service centres in operation for SEB, Swedbank and Danske Bank offering multifunctional services across a number of languages.
Lithuanian Central Bank, Ministries of Finance, Economy and Innovations are continuously improving regulatory and business environment to attract finance companies and position Lithuania as a new Fintech hub in Europe.
A proactive regulator and supportive legal environment in Lithuania have already attracted such world-known Fintech companies as Google, Revolut, TransferGo and InstaReM.

Interested in other sectors?