Economy & Business Environment

Lithuania has shown one of the most successful rates of economic growth after joining EU in 2004. Lithuania’s Government took action to reform economic environment making it more business friendly and resistant to economic impacts. Therefore Lithuania’s economy managed to recover from global economic recession and it started to grow in the 3rd quarter of 2009. The GDP increased by 5.9 % in 2011. The Bank of Lithuania forecasts the economy will grow by 3.4 % in 2013.

In accordance with data in fDi Markets which tracks umber of greenfield Foreign Direct Investment (FDI) projects in a global arena, in 2012 Lithuania in FDI attraction took 5th place globally and 3rd place in Europe, while being an absolute leader among the Baltic countries. It is reported that during the first decade of 2012 Lithuania's FDI projects amounted to EUR 927 million.

According to the Bloomberg Rankings “Best Counties for Business in 2013” which presents an exclusive analysis of countries around the world based on how attractive they are to business, Lithuania moved up to 37th place from the 40th place last year leaving its Baltic neighbour Estonia behind in 43rd place.

Sources: Bloomberg Rankings “Best Counties for Business in 2013” http://media.bloomberg.com/bb/avfile/rHkBnrDEsoaw

fDi Markets, http://www.fdimarkets.com/index.cfm?page_name=markets

Ministry of Economy, www.ukmin.lt