Robust fundamentals ensure low country risk

A1

LOW RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in February 2022.

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GDP USD55.89bn (World ranking 81, World Bank 2020)
Population 2.80mn (World ranking 139, World Bank 2020)
Form of state Parliamentary Democracy 
Head of government Ingrida SIMONYTE (Prime Minister)
Next elections 2024, presidential and legislative
  • Low systemic political risk
  • Good international relations, EU and NATO membership
  • Eurozone membership provides for low transfer and convertibility risk
  • Sound public finances and access to international capital markets
  • Strong business environment
  • High external debt burden
  • The industry is dominated by one large refinery complex, Orlen Lietuva, which accounts for around 20% of total industrial output and a significant share in total exports
  • High export and import dependence on Emerging Markets, notably Russia (here especially on crude oil imports)

Trade structure by destination/origin

(% of total, 2020)

Exports Rank Imports
Russia 13.4%
1
13.1% Poland
Latvia 9.3%
2
12.8% Germany
Germany 8.0%
3
9.1% Russia
Poland 6.3%
4
7.8% Latvia
Netherlands 5.2%
5
5.5% Netherlands

Trade structure by product

(% of total, 2020)

Exports Rank Imports
Furniture and parts thereof 6.9%
1
8.8% Petroleum, petroleum products and related materials
Petroleum, petroleum products and related materials 6.0%
2
7.4% Road vehicles
Chemical materials and products, n.e.s. 5.0%
3
5.0% Electrical machinery, apparatus and appliances, n.e.s.
Road vehicles 4.7%
4
4.5% Other industrial machinery and parts
Cereals and cereal preparations 4.3%
5
4.4% Medicinal and pharmaceutical products
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