Statistics Lithuania has published a summary of key economic indicators for the previous year. In 2021, wages in Lithuania increased, but most of the effect was cancelled out by inflation. Lithuania’s GDP in 2021 was 55.4 billion euros. It increased by 5.1% from the year before. Among sectors that grew the most last year were…
A batch of 1,200 bottles of Lithuanian rum sold out in less than an hour after hitting the shelves of the state-run Taiwan Tobacco and Liquor Corp. (TTL) on February 1. At the beginning of the year, Taiwan bought a shipment of 20,400 bottles of Lithuanian rum that was blocked by Chinese customs. In January,…
The cargo transit of Belaruskali, one of the world’s largest producers and exporters of potash fertilizers, from the Belarusian border to the Lithuanian port of Klaipeda end at midnight on January 31. It marks the end of the transportation of fertilizers, stopped by US sanctions, that has been growing for more than a decade to…
Lithuania reported inflation of 11% at the end of last year. However, the peak is yet to come, as prices are expected to increase further in February, according to the SEB bank economist Tadas Povilauskas. In 2021, the average annual inflation was 4.5%. This year, it should reach 7.2%, decreasing to 1.8% in 2023, SEB…
The Belarusian state-owned potash manufacturer Belaruskali says it intends to demand damage compensation from Lithuanian Railways (LTG), which is terminating transportation contract on February 1. The Lithuanian government has terminated the contract on transporting Belarusian fertilizers across the country, quoting national security. Belaruskali has been under US sanctions since December 2021. LTG has confirmed that…
A Lithuanian town is planning a development of wooden apartment buildings, saying it could serve as an example for the rest of the country. The government, meanwhile, wants to have all new public buildings include more natural materials. The town of Anyksciai, in northeast Lithuania, has set aside two plots of land for wooden developments…
Lithuania will hand over 24 thermal sights to Ukraine’s special forces, the country’s Defense Ministry reports. “Under the plan, these will be mobile thermovisual surveillance devices,” the ministry said, adding that the devices were valued at over 340,000 euros. The ministry also confirmed that Lithuania would soon start handing over weapons to Ukraine, but refrained…