Business in Lithuania (edition 2021)

Introduction

 

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

In 2020, there were 278.6 thousand enterprises in operation in the country – one enterprise per 10 residents. Over a year, the number of enterprises increased by almost 3 per cent, in the decade – twice. Most enterprises are engaged in trade activity. 185.5 thousand persons are self-employed. 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.

In 2020, the turnover of enterprises amounted to EUR 99.9 billion and, compared to 2019, decreased by EUR 1.4 billion (1.4 per cent). The value added (at factor cost) generated by enterprises amounted to EUR 25.5 billion, which is by EUR 1.4 billion (5.9 per cent) more than in 2019.

COVID‑19 had different impact on enterprises. Agriculture, forestry and fishing as well as information and communication activities can be characterised as generating a robustly booming share in the total value-added, while the service sector has suffered the biggest decline.

Not only Lithuanian, but also foreign companies create the value-added: investment accumulated by them over 2020 increased by 15.7 per cent and totalled EUR 23.9 billion.

For the analysis of business environment, the fact that over a ten-year period (2020, against 2011) prices for consumer goods and services increased by 15.1 per cent should also be taken into consideration. The biggest (4.1 per cent) annual average inflation was recorded in 2011, while deflation – (minus 0.9 per cent) only in 2015.

The publication also provides an overview of agricultural companies, their income and profit.

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 Email: info@stat.gov.lt.


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