Lithuania Business, Taxation and Offshore Information
Lithuania is the largest of the Baltic states, with an area of 65,200 sq km and 99 km of coastline on the Baltic Sea between Latvia to the north and Russia's Kaliningrad outpost to the south. The population is about 3.5m and is mostly of Lithuanian descent. Lithuanian is the official language, and 80% of the population are Roman Catholics.
The President is elected for a five-year term and appoints the ministerial team. Dalia Grybauskaite has been the President since May 2009.
Like most of the ex-USSR countries, Lithuania has had to cope with privatisation of most of its economy. The country joined the WTO at the same time as joining the EU in 2004. More than 60% of the economy is composed of services, with the remainder being industrial. GDP per head was USD15,500 (2009). Growth was -15% in 2009 (est), 2.8% in 2008 and 9.7% in 2007. The currency is the Litas (LTL), but the country is expected to adopt the Euro in or after 2013. More »