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2012 shows: Lithuania Provides Businesses Both Cost-Competitive and Productive Investment Environment

While its European neighbors are mired in economic stagnation, Lithuania’s competitive and stable investment environment and surging exports buoy a resilient economy.

Lithuania is once again one of European Union’s fastest growing economies.  Last year, the country’s GDP grew at 3.6% – following near 6% growth in 2011.  The economy is poised to expand by 3% in 2013. 

Milda Dargužaitė, Managing Director of Invest Lithuania notes, “Foreign investors came to Lithuania for our central location and cost-efficient, skilled work force, but have expanded here because of the country’s growth potential.” 

Lithuania provides businesses both cost- competitive and productive investment environment.  Despite worker productivity soaring by 7% in 2010 and 4% in 2011, the latest recorded statistics, real wages stagnated.  Nominal wage growth in 2011 and 2012 lagged inflation leaving real wages below pre-crisis levels.

The Lithuanian labour force is not only skilled but educated – over half of the population speaks three languages.   On the back of this increasingly productive workforce, the country’s exports jumped on average by more than 20% over the past three years (33% in 2010, 29% in 2011 and 15% in 2012). 

Ahead of its admission into the Eurozone in 2015, Lithuania remains committed to consolidating its fiscal position and ensuring macroeconomic stability, consequently providing a stable investment climate. 

This year, the government estimates the budget deficit will continue to narrow to 2.5% of GDP from 3% in 2012.  Authorities have also tamed inflation – now at 3.2%, down from 4.1% in 2011 – by adopting measures to comply with the Maastricht criteria. 

Lithuania’s expanding economy and low wage, dynamic workforce combined with a commitment to fiscal discipline and monetary stability, present investors with growth opportunities in the centre of Europe.
 

While its European neighbors are mired in economic stagnation, Lithuania’s competitive and stable investment environment and surging exports buoy a resilient economy.

Lithuania is once again one of European Union’s fastest growing economies.  Last year, the country’s GDP grew at 3.6% – following near 6% growth in 2011.  The economy is poised to expand by 3% in 2013. 

Milda Dargužaitė, Managing Director of Invest Lithuania notes, “Foreign investors came to Lithuania for our central location and cost-efficient, skilled work force, but have expanded here because of the country’s growth potential.” 

Lithuania provides businesses both cost- competitive and productive investment environment.  Despite worker productivity soaring by 7% in 2010 and 4% in 2011, the latest recorded statistics, real wages stagnated.  Nominal wage growth in 2011 and 2012 lagged inflation leaving real wages below pre-crisis levels.

The Lithuanian labour force is not only skilled but educated – over half of the population speaks three languages.   On the back of this increasingly productive workforce, the country’s exports jumped on average by more than 20% over the past three years (33% in 2010, 29% in 2011 and 15% in 2012). 

Ahead of its admission into the Eurozone in 2015, Lithuania remains committed to consolidating its fiscal position and ensuring macroeconomic stability, consequently providing a stable investment climate. 

This year, the government estimates the budget deficit will continue to narrow to 2.5% of GDP from 3% in 2012.  Authorities have also tamed inflation – now at 3.2%, down from 4.1% in 2011 – by adopting measures to comply with the Maastricht criteria. 

Lithuania’s expanding economy and low wage, dynamic workforce combined with a commitment to fiscal discipline and monetary stability, present investors with growth opportunities in the centre of Europe.