Lietuva






Economy

 

 

(right) The Vilnius - Kaunas Thruway. In the middle, stands an oak preserved by conservationists.

 

According to the structure of surplus commodities, first place is held by the traditional Lithuanian trade of processing raw materials where about 23% surplus is created. Second place, 15.4%, is held by the export of processed raw materials and by utilities. Third place, 12.3%, is in transportation and storage services. Fourth place, 8.1 %, is in real estate and rent. Fifth place, 7.0%, is in farm produce.


So far, imports are 1.3 times that of exports, but exports are definitely on the rise. It should be noted that exports to countries of the former USSR, have notably decreased. They make up about 20% of the export business while exports to the EU, comprise about 50% of the total export trade.

On the world market, Lithuania occupies fourth place in cheese exports to the USA; 7-8% of imported USA cheese comes from Lithuania. Ahead of us is France, Italy and New Zealand. Most of the cheese is "Rokiskio" brand cheese. "Svyturys," a beer brewed in Klaipeda, has garnered prizes in US beer contests.
The electronics holding company, "Vilniaus Vingis", manufactures about 25% or every fourth deflection yoke in Europe's market." The world's largest producers of television sets use picture tubes manufactured in Panevezys' IIEkrone" company.

In the field of information technology, Vilnius' 11 Alna" is being sold in the West. Lithuanian scientists are also making a showing in the West with biotechnology and laser innovations.
Lithuania is improving its conditions for foreign investment yearly. Foreign investment is now 1.5 times greater than local investment.

In spite 01 the rising economy, the average per capita income is still very low. The average yearly income in Lithuania is $7,600, $8,520 in Estonia, $25,900 in Ireland, $33,720 jg:ihl! _ EU overage is $_3,200.