Business in Lithuania (edition 2020)

Introduction

 

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Business, indisputably, is an important engine for our entire economy. Its success depends on perfect planning and projections, sound market knowledge and understanding of various economic processes. In the period of active discussions on Lithuanians’ entrepreneurship capacities in the public domain, Statistics Lithuania advises to rely on statistics. Please find an exhaustive survey of business in Lithuania.

In 2019, there were 267.4 thousand enterprises in operation – one for 10 citizens. In the decade, the number of enterprises increased twice. 176.7 thousand persons were engaged in individual activities (8 per cent of all adults). The number of small partnerships is growing rapidly.

The majority of enterprises operating in Lithuania are small enterprises with up to 9 employees, and they employ 41 per cent of all persons engaged in business. The vast number of enterprises are involved in trade.

Business in our country, over 2019, generated 74 per cent of the total gross value-added. The manufacturing, wholesale and retail sectors can boast of the biggest contribution in this field. The construction, transportation and storage, information and communication, as well as administrative and support service activities can be characterised as generating a robustly booming share in the total value- added.

In fact, not only Lithuanian, but also foreign companies create the value-added: investment accumulated by them, over 2019, increased by 9.5 per cent, and totalled EUR 18.6 billion.

This publication presents “survival” indicators of our enterprises. Until 2019, only one out of ten enterprises, established a decade ago, operated on a stable and continuous basis.

For the analysis of business environment, the fact that over a ten-year period (2019, against 2009) prices for consumer goods and services increased by 18.4 per cent should also be taken into consideration. The biggest (4.5 per cent) annual average inflation was recorded in 2009, while deflation – (minus 0.9 per cent) only in 2015. In the private sector, average gross earnings, within the aforementioned period, increased by 82 per cent.

Publication “Business in Lithuania” will also provide an overview of statistics on manufacture, services, construction and trade companies. Agricultural companies have been included into the business survey for the first time.

Do not miss the opportunity to learn more about business situation in our country. If you have any questions or suggestions, please do not hesitate to contact the Statistics Dissemination and Communication Division of Statistics Lithuania by E‑mail: info@stat.gov.lt.


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