With a population of 2.9 million, Lithuania is a relatively small, but potentially attractive market for U.S. goods and services. Its geographic location, proximity to the EU and NIS markets, excellent infrastructure, very competitive living and operating costs, availability of high-skilled workforce make Lithuania a good place for U.S. companies to explore in their efforts to expand into global markets.
In 2004 Lithuania joined the EU and NATO. Lithuania’s strong commitment and effort to join the EU and NATO won broad recognition worldwide and helped the country improve its legal, tax and customs systems – all of which helped with development of the economy and commercial sector.
The Lithuanian economy is one of the fastest growing in the EU (2.9 percent GDP growth in 2014). The country joined the Eurozone in January 2015, and has applied to join the OECD. According to preliminary data from the Lithuanian Statistics Department, at the end of 2014, the United States was Lithuania’s 17th largest investor, with cumulative investments totaling USD 160.4 million (1.2 percent of total FDI).