Entrance into the European Union in 2004 made Lithuania part of one of the world’s largest markets, with approximately 447 million consumers, and increased Lithuania’s appeal as a destination for U.S. goods and services. Lithuania’s proximity to markets of the Community of Independent States (CIS), the country’s improving infrastructure, competitive living and operating costs, and skilled workforce offer opportunities for U.S. producers and suppliers to expand into EU and global markets.
Lithuania has been a member of the WTO since 2002 and joined the EU and NATO in 2004. Lithuania adopted the Euro currency on January 1, 2015. Lithuania’s determination to join the EU and NATO accelerated improvements in Lithuania’s legal and banking systems and tax and customs regimes; the fiscal restraints the government imposed in order to meet EU accession commitments spurred dramatic economic growth and business development.
Lithuania has demonstrated remarkable resilience to regional and global economic slowdowns. The COVID-19 pandemic had a negative impact on the global economy and Russia’s war against Ukraine, and the resulting uncertainty has affected the economy of Lithuania, as well as the entire European Union. Despite these challenges, the country’s economy continues to demonstrate resilience, and experts estimate that it will grow 2.8 percent in 2025.
In 2023 Lithuanian exports totaled $43 billion and imports reached $46.5 billion. Compared to 2022, exports and imports reduced by 9.8% and 10.6%, respectively.
In 2024, Lithuania’s largest export partners were Poland (10.2%), Germany (9.7%), and the Netherlands (7.7%). Its largest import partners were Germany (13.8%), Poland (13.2%), and Latvia (8.1). In 2024, the United States was Lithuania’s sixth largest export partner and tenth largest import partner.
A wide range of economic and demographic statistics is available on the website of State Data Agency