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DEVELOPMENT OF LITHUANIA ECONOMY AND TENDENCIES OF POST-CRISIS PERIOD

Journal: University Economic Bulletin. Collection of scientific articles of scientists and post-graduate students (Vol.1, No. 21)

Publication Date:

Authors : ; ;

Page : 135-140

Keywords : Lithuanian economy; European Union; production; trade; external economic activities; social and economic indicators;

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Abstract

He aim of the article is review of general economic situation in Lithuania and generalization of economic tendencies of development. Structure of Lithuanian economy began to sufficiently change in 2001. From this year the agrarian sector began to lose its positions to the technological sector. Within the last five years the industry of Lithuania is the main leading force of economic growth of the country. Though Lithuania suffered from crisis the growth on 5.9% was one of the most impetuous in the EU. Export was the main engine of economic growth that is why problems of European and world economies influence the perspectives of Lithuania growth. In the short?term period perspectives of Lithuania economy will depend on the results of EU solving the problems connected with the influence of debt crisis. Lithuanian Development Agency considers that the following branches, such as transport and logistics, energy, external services, information and communication technologies, laser and biotechnologies, metal processing, food production and wood processing, are the most attractive for investors. There is the potential for successful business development in the spheres of tourism and real estate. Lithuania attracts perspective investors by the favorable tax system, which presupposes different preferences on separate territories. Lithuania set very ambitious aim to become technological and innovative center in the Baltic States and the Northern Europe by creating technological parks and business incubators. Lithuania is the world leader on producing highly energetic micro?second lasers and speedy parametric light generators.

Last modified: 2016-12-19 09:05:27