IMD World Competitiveness Booklet 2023

Competitiveness Country Profiles

Lithuania Competitiveness Trends – Overall

OVERALL PERFORMANCE (64 countries)

BASIC FACTS

Rank

2019

2020

2021

2022

2023

Capital Land area (square km '000)

Vilnius

65 2022

29

29

30

0,950 2022

Exchange rate (per $)

31

32

2,83 2022 56 70,5 2022 55 46.172 2022 35 1,9 2022 58 18,86 2022 59 5,90 2022 42 1,51 2022 55 -4,48 2022 51 29,4 2021 56 4,43 2021 18

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2023

GDP (PPP) per capita (US$)

• Dealing with the uncertainty created by the war in Ukraine. • Ensuring energy independence. • Accelerating the transformation towards high-tech sectors and products. • Maintaining competitiveness despite rapid increase in labor costs. • Taking advantage of shortening supply chains in Europe.

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: Innovation Agency Lithuania

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices Attitudes & Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health & Environment Education

16

25

25 28 24

27 24

28 28

33 30 30 34 32 32

33

41

42

50

53

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (41 countries)

POPULATIONS < 20 MILLION (37 countries)

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

18

18

19

19

19

20

20

21

21

21

91