LITHUANIAN ECONOMY GREW BY 5.8 PERCENT IN 2011
The national economy expanded by 5.8 percent last year, the highest growth rate in three years, driven by construction, industry, and financial services, the Statistics Lithuania said in its preliminary annual overview. The average annual inflation level, measured by the adjusted consumer price index, stood at 4.1 percent, up from 1.2 percent in 2010. The overall industrial output went up by 7.4 percent as 19 out of 24 industrial sectors reported an increase in the aggregate value of production. Last year, Lithuania enjoyed an almost one-third growth in foreign trade, one of the best results in the European Union. Exports soared by almost 29 percent, while imports went up by 28 percent, compared to the respective levels in 2010. The domestic market also showed signs of revival as the overall sales of trade companies increased by almost 21 percent. The unemployment shrank by 2.4 percentage points to 15.4 percent at the end of 2011.
Source: Invest Lithuania
