Lithuania, the Baltic state that has conducted the
most trade with Russia, faced its own economic and financial crisis in
1999 as a result of the government's wrongfooted economic policies and
its inadequate response to the August 1998 Russian financial crisis.
Preliminary figures indicate 3% negative GDP growth, 10% unemployment
- the highest level since independence in 1991 - and a budget deficit
estimated at between 8 and 9% of GDP. The policies that Prime Minister
KUBILIUS implemented upon taking the helm in November 1999 underscore
a commitment to fiscal restraint, economic stabilization, and
accelerated reforms. The austere 2000 budget in based on a 2% GDP
growth forecast, 3% inflation, and a 2.8% budget deficit. Lithuania
was invited at the Helsinki EU summit in December 1999 to begin EU
accession talks in early 2000. Privatization of the large state-owned
utilities, particularly in the energy sector, and reducing the high
current account deficit remain challenges for the coming year.

purchasing power parity - $17.3 billion (1999 est.)

-3% (1999 est.)

purchasing power parity - $4,800 (1999 est.)

agriculture: 10%
industry: 32%
services: 58% (1998 est.)

NA%

lowest 10%: 3.4%
highest 10%: 28% (1993)

0.3% (1999 est.)

1.8 million

industry 30%, agriculture 20%, services
50% (1997 est.)

10% (1999)

revenues: $1.5 billion
expenditures: $1.7 billion, including capital expenditures of $NA
(1997 est.)

metal-cutting machine tools, electric motors, television
sets, refrigerators and freezers, petroleum refining, shipbuilding
(small ships), furniture making, textiles, food processing,
fertilizers, agricultural machinery, optical equipment, electronic
components, computers, amber

-14% (1999 est.)

15.58 billion kWh (1998)

fossil fuel: 13.09%
hydro: 4.3%
nuclear: 82.61%
other: 0% (1998)

7.829 billion kWh (1998)

7 billion kWh (1998)

340 million kWh (1998)

grain, potatoes, sugar beets, flax,
vegetables; beef, milk, eggs; fish

$3.3 billion (f.o.b., 1999)

machinery and equipment 19%, mineral products
19%, textiles and clothing 19%, chemicals 10%, foodstuffs (1998)

Russia 17.4%, Germany 15.8%, Latvia 12.7%, Denmark
5.9%, Belarus 5.2% (1999)

$4.5 billion (f.o.b., 1999)

machinery and equipment 30%, mineral products
16%, chemicals 9%, textiles and clothing 9%, foodstuffs (1998)

Russia 20.4%, Germany 16.5%, Denmark 3.8%, Belarus
2.2%, Latvia 2% (1999)

$NA

$228.5 million (1995)

1 Lithuanian litas = 100 centas

litai per US$1 - 4.000 (fixed rate since 1 May 1994)

calendar year