Economy of Lithuania

Venituri suplimentare la vilnius

Lithuanian long silver currency, 12th—15th centuries Various types of trade ships in Nemunas near Kaunas, 19th century The first Lithuanians formed a branch of an ancient ethno-linguistic group known as the Balts. Lithuanian tribes maintained close trade contacts with the Roman Empire. Consolidation of the Lithuanian lands began in the late 12th century.

The expansion of the Grand Duchy of Lithuania reached its height in the middle of the 14th century under the Grand Duke Gediminas reigned —who established a strong central government which later came to dominate the territories from the Baltic Sea to the Black Sea. Grand Duke Gediminas issued letters to the Hanseatic leagueoffering free access to his domains for men of every order and profession from nobles and knights to tillers of the soil.

Economy of Lithuania

Economic immigrants and immigrants, seeking religious freedom improved the level of handicrafts. During the reign of Duke Kęstutis —the first cash taxes were introduced, although most taxes were still paid in goods e. The economy of the Commonwealth was dominated by feudal agriculture based on the exploitation of the agricultural workforce serfs.

Poland—Lithuania played a significant role in supplying 16th-century Western Europe with exports of three sorts of goods: grain ryecattle oxen and fur. Statutes of Lithuania were the main collections of law statements and rules in Lithuania. The Commonwealth was famous for Europe's first and venituri suplimentare la vilnius world's second modern codified national constitution, the so-called Constitution of 3 Maydeclared on 3 May after the ratification of the United States Constitution.

Economic and commercial reforms, previously shunned as unimportant by the Szlachtawere introduced, and the development of industries was encouraged.

During the administration of the Lithuanian lands by the Russian Empire from toone of the venituri suplimentare la vilnius important events venituri suplimentare la vilnius affected economic relations was the emancipation reform of in Russia.

The reform amounted to the liquidation of serf dependence previously suffered by peasants; it boosted the development of capitalism. Lithuania in the 20th century[ edit ] On 16 Februarythe Council of Lithuania passed a resolution for the re-establishment of the Independent State of Lithuania.

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Soon, many economic reforms for sustainable economic growth were implemented. A national currency, called the Lithuanian litaswas introduced in It proved to become one of the strongest and most stable currencies in Europe during the inter-war period. Litas remained stable even in the period of Great Depression. During the time of its independence, —, Lithuania made substantial progress. For example, Lithuania was the third-ranking flax producer and exporter in the world market export of flax constituted about 30 percent of all export share [41]being surpassed only by Soviet Russia and Poland; [42] Lithuanian farm products such as meat, dairy products, many kinds of grain, potatoes, etc.

Lithuanian farmers were joining into cooperative companies — e. Lietūkis, Pienocentras, Linas, which helped farmers to process and sell their products more efficiently and profitably. Having taken advantage of favorable international developments, and driven by its foreign policy aims directed against Lithuanian statehood, the Union of Soviet Socialist Republics USSR occupied Lithuania in Just after one year of occupation, poverty level, unemployment increased dramatically, lack of food products appeared.

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Later, many inefficient factories and industry companies, highly dependent on other regions of USSR, were established in Lithuania. Venituri suplimentare la vilnius Soviet era brought Lithuania intensive industrialization and economic integration into the USSR, although the level of technology and state concern for environmental, health, and labor issues lagged far behind Western standards.

From to the Soviets abolished private ownership in agriculture, establishing collective and state farms.

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Production declined and did not reach pre-war levels until the early s. The intensification of agricultural production through intense chemical use and mechanization eventually doubled production but created additional ecological problems. This changed after independence, when farm production dropped due to difficulties in restructuring the agricultural sector. Open to global trade and investment, Lithuania now enjoys high degrees of business, fiscal, and financial freedom.

Economia Lituaniei

Lithuania is a member of the EU and the WTOso regulation is relatively transparent and efficient, with foreign and domestic capital subject to the same rules. The financial sector is advanced, regionally integrated, and subject to few intrusive regulations.

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The first venituri suplimentare la vilnius of privatization was being implemented between and Lithuania chose a currency board system controlled by the Bank of Lithuania independent of any government institution.

On venituri suplimentare la vilnius Junethe Lithuanian litas was introduced as a freely convertible currency, but on 1 April it was pegged to the United States dollar at a rate of 4 to 1. The mechanism of the currency board system enabled Lithuania to stabilize inflation rates to single digits.

The stable currency rate helped to establish foreign economic relations, therefore leading[ citation needed ] to a constant growth of foreign trade. However, the collapse of the Russian ruble in August shocked the economy into negative growth venituri suplimentare la vilnius forced the reorientation of trade from Russia towards the West. On 2 February the litas was pegged to the euro at a rate of 3.

Lithuania was very close to introducing the euro inbut the inflation level exceeded the Maastricht requirements. The biggest changes were recorded in the agricultural sector as the share of total employment decreased from The service sector plays an increasingly important role.

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The share of total employment in the financial sector in has doubled compared with On the other hand, rapid growth caused some imbalances in inflation and balance of payments. The current account deficit to GDP ratio in — was in the double digits venituri suplimentare la vilnius reached its peak in the first quarter of at a threatening This led to high inflation of goods and services, as well as trade deficit.

A housing bubble was formed. The global credit crunch which started in affected the real estate and retail sectors. The construction sector shrank by In the third quarter ofcompared to the previous quarter, GDP again grew by 6. Sectors related to domestic consumption and real estate still suffer from the economic crisis, but exporters have started making profits even with lower levels of revenue.

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The catalysts of growing profit margins are lower raw material prices and staff expense. At the end ofinvestment of Lithuania's enterprises venituri suplimentare la vilnius amounted to EUR 2. The largest investment was made in Netherlands It is below the average in income and wealth, venituri suplimentare la vilnius and earnings, housing, health status, social connections, civic engagement, environmental quality, personal security, and subjective well-being.

Joining the euro would relieve the Bank of Lithuania of defending the value of the litas, and "it would give Lithuania a say in the decision-making of the European Central Bank ECBas well as access to the ECB single-resolution fund and cheaper borrowing costs". Sweden, The Netherlands and Germany have remained the largest investors. To reach this goal, it is putting its efforts into attracting FDI to added-value sectors, especially IT services, software development, consulting, finance, and logistics.

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Lithuanian FEZs Free economic zone offer developed infrastructure, service support, and tax incentives. A company set up in an FEZ is exempt from corporate taxation for its first six years, as well as a tax on dividends and real estate tax.

There are nine industrial sites in Lithuania, which can also provide additional advantages by having a well-developed infrastructure, offering consultancy service and tax incentives.

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Municipalities may tie designation criteria to additional factors, such as the number of jobs created or environmental benefits. Strategic investors' benefits could include favorable tax incentives for up to ten years. Municipalities may grant special incentives to induce investments in municipal infrastructure, manufacturing, and services.

Please help improve this section by adding citations to reliable sources. Unsourced material may be challenged and removed. May Learn how and when to venituri suplimentare la vilnius this template message Lithuania traditionally has strong agricultural, furniture, logistics, textilebiotechnology and laser industries. Maxima is a retail chain operating in Lithuania, Latvia, Estonia, Poland and Bulgaria and it is the largest Lithuanian capital company and the largest employer in the Baltic states.

Girteka Logistics is a largest Europe's transport company.

  • The predominant languages of the city were Polish and to a lesser extent, Yiddish.
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Biotechpharma is a biopharmaceutical research and development company with a focus on recombinant protein technology development. The BIOK Laboratory is a startup founded by biochemistry scientists which is the biggest producer of Lithuanian natural cosmetic products.

In the "Baltic Top venituri suplimentare la vilnius, venituri suplimentare la vilnius biggest Baltic states companies rating created tipuri de opțiuni pe piața mondială Cofacemore than half — 29 — companies are from Lithuania.

OECD Unemployment in Lithuania has been volatile. Firstly, during the time of rapid economic expansion, numerous work places were established. This caused a decrease in the unemployment rate and a rise in staff expenses.

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Secondly, emigration has also reduced unemployment problems since accession to the EU. However, the economic crisis of year has lowered the need for workers, so the unemployment rate increased to Unemployment rate retragerea câștigurilor pe platformele de internet I quarter of was 6.

Around 37, employees work for more than 2, ICT companies. ICT received 9. Lithuania hosts 13 of the 20 largest IT companies in the Baltic States.