he former Soviet Union to Western markets. Nevertheless,
the process has been painful with industrial output in 1993 less than
half the 1991 level. Inflation, while lower than in most ex-Soviet
states, has exceeded rates in the other Baltic states. Full monetary
stability and economic recovery are likely to be impeded by periodic
government backtracking on key elements of its reform and
stabilization program as it seeks to ease the economic pain of
restructuring. Recovery will build on Lithuanian's strategic location
with its ice-free port at Klaipeda and its rail and highway hub in
Vilnius connecting it with Eastern Europe, Belarus, Russia, and
Ukraine, and on its agriculture potential, highly skilled labor force,
and diversified industrial sector. Lacking important natural
resources, it will remain dependent on imports of fuels and raw
materials.
National product:
GDP - purchasing power equivalent - $12.4 billion (1993 estimate from
the UN International Comparison Program, as extended to 1991 and
published in the World Bank's World Development Report 1993; and as
extrapolated to 1993 using official Lithuanian statistics, which are
very uncertain because of major economic changes since 1990)
National product real growth rate:
-10% (1993 est.)
National product per capita:
$3,240 (1993 est.)
Inflation rate (consumer prices):
188% (1993)
Unemployment rate:
1.8% (July 1993)
Budget:
revenues:
$258.5 million
expenditures:
$270.2 million, including capital expenditures of $NA (1992 est.)
Exports:
$NA
commodities:
electronics 18%, petroleum products 5%, food 10%, chemicals 6% (1989)
partners:
Russia 40%, Ukraine 16%, other FSU countries 32%, West 12%
Imports:
$NA
commodities:
oil 24%, machinery 14%, chemicals 8%, grain NA% (1989)
partners:
Russia 62%, Belarus 18%, other FSU countries 10%, West 10%
External debt:
$NA
Industrial production:
growth rate -52% (1992)
Electricity:
capacity:
5,925,000 kW
production:
25 billion kWh
consumption per capita:
6,600 kWh (1992)
Industries:
employs 42% of the labor force; accounts for 23% of GOP shares in the
total production of the former USSR are: metal-cutting machine tools
6.6%; electric motors 4.6%; television sets 6.2%; refrigerators and
freezers 5.4%; other branches: petroleum refining, shipbuilding (small
ships), furniture making, textiles, food processing, fertilizers,
agricult