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Economy of Lithuania vs Russia compared: GDP & Debt

Updated on by Georank team

Lithuania has a GDP of $84.9B compared to $2.17T for Russia, ranking 79/197 and 11/197 by economy size, respectively.

Lithuania has $32.4B in government debt (38.2% of GDP), compared to $440B (20.3% of GDP) in Russia.

Lithuania vs Russia GDP by year

Lithuania
Russia
1x
Year GDP, current $
Lithuania Russia
2024 $84,869,215,513 $2,173,835,806,672
2023 $79,789,877,416 $2,071,505,725,031
2022 $71,033,884,500 $2,291,612,121,335
2021 $67,037,321,009 $1,829,186,719,575
2020 $57,412,038,533 $1,493,075,894,362
2019 $55,122,066,226 $1,693,115,002,708
2018 $54,261,795,149 $1,657,328,773,461
2017 $47,756,764,508 $1,574,199,360,089
2016 $42,970,749,245 $1,276,786,350,881
2015 $41,540,954,817 $1,363,482,182,198
2014 $48,306,546,657 $2,059,241,589,895
2013 $46,303,660,422 $2,292,470,078,346
2012 $42,709,372,067 $2,208,293,553,878
2011 $43,186,501,863 $2,045,922,753,398
2010 $36,638,128,534 $1,524,916,715,224
2009 $37,494,380,039 $1,222,645,900,056
2008 $47,831,254,208 $1,660,848,058,303
2007 $39,729,151,615 $1,299,703,478,482
2006 $30,116,192,747 $989,932,071,353
2005 $26,105,207,115 $764,015,973,481
2004 $22,743,164,431 $591,016,690,732
2003 $18,809,197,970 $430,347,420,185
2002 $14,282,292,665 $345,470,494,418
2001 $12,260,761,329 $306,602,070,621
2000 $11,550,695,727 $259,710,142,197
1999 $11,022,095,814 $195,907,128,351
1998 $11,289,161,847 $270,955,486,862
1997 $10,168,271,903 $404,928,954,192
1996 $8,430,207,164 $391,724,890,744
1995 $7,921,210,340 $395,537,185,735
1994 - $395,077,301,248
1993 - $435,083,713,851
1992 - $460,290,556,901
1991 - $517,962,962,963
1990 - $517,014,446,228
1989 - $506,631,299,735
1988 - $554,828,660,436

Data sources: World Bank | Economy & Growth (1988–2024, retrieved 2026-04-06).

GeoRank.org/economy/lithuania/russia | CC BY

GDP per capita in Lithuania vs Russia by year

Lithuania
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lithuania Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $29,384 $55,286 $15,145 $47,405
2023 $27,786 $52,348 $14,403 $44,269
2022 $25,086 $50,936 $15,888 $40,939
2021 $23,870 $45,874 $12,637 $38,638
2020 $20,429 $41,263 $10,280 $31,491
2019 $19,609 $40,564 $11,640 $30,964
2018 $19,247 $36,492 $11,399 $28,629
2017 $16,800 $31,305 $10,835 $25,778
2016 $14,934 $28,699 $8,804 $24,012
2015 $14,270 $26,949 $9,427 $23,994
2014 $16,446 $26,275 $14,277 $25,688
2013 $15,637 $24,890 $15,941 $26,020
2012 $14,288 $23,275 $15,402 $24,274
2011 $14,262 $21,558 $14,305 $22,790
2010 $11,829 $18,719 $10,675 $20,490
2009 $11,854 $17,055 $8,563 $19,390
2008 $14,956 $19,410 $11,635 $20,164
2007 $12,295 $17,969 $9,101 $16,648
2006 $9,210 $15,522 $6,920 $14,912
2005 $7,857 $13,951 $5,323 $11,822
2004 $6,735 $12,605 $4,102 $10,227
2003 $5,507 $11,660 $2,975 $9,255
2002 $4,148 $10,296 $2,378 $8,037
2001 $3,533 $9,399 $2,100 $7,361
2000 $3,301 $8,475 $1,772 $6,825
1999 $3,128 $7,918 $1,331 $5,914
1998 $3,181 $7,846 $1,835 $5,465
1997 $2,844 $7,167 $2,738 $5,700
1996 $2,341 $6,479 $2,644 $5,518
1995 $2,183 $6,023 $2,666 $5,613
1994 - $5,667 $2,662 $5,734
1993 - $6,107 $2,931 $6,420
1992 - $7,087 $3,099 $6,862
1991 - $8,790 $3,490 $7,858
1990 - $9,030 $3,494 $8,028
1989 - - $3,430 -
1988 - - $3,778 -

Data sources: World Bank | Economy & Growth (1988–2024, retrieved 2026-04-06).

GeoRank.org/economy/lithuania/russia | CC BY

Lithuania's GDP per capita is $29,384, ranking 43/197, compared to $15,145 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Lithuania ranks 39th at $55,286, while Russia ranks 50th at $47,405.

Economic indicators

Lithuania Russia
Gross domestic product
$84.9B
2024
$2.17T
2024
GDP rank
79/197
2024
11/197
2024
GDP growth
2.77%
2023-2024
4.34%
2023-2024
GDP per capita
$29,384
2024
$15,145
2024
GDP per capita rank
43/197
2024
68/197
2024
GDP per capita, PPP
$55,286
2024
$47,405
2024
GDP per capita PPP rank
39/197
2024
50/197
2024
Government debt
$32.4B
2024
$440B
2024
Debt-to-GDP ratio
38.2%
2024
20.3%
2024
Government debt per person
$11,232
2024
$3,067
2024
Government debt per person rank
49/185
2024
98/185
2024
Average annual personal income after taxes
$19,946
2026
$10,464
2026
Market capitalization of domestic companies n/a
$650B
2023
Number of millionaires n/a
426,000
2025
Number of billionaires n/a
140
2025
Income share by richest 10%
27.3%
2023
25.1%
2023
Income share by poorest 10%
2.2%
2023
3.1%
2023
Government expenditure, % of GDP
39.5%
2024
36.9%
2024
Consumer prices inflation
0.72%
2023-2024
8.4%
2023-2024
Central bank interest rate n/a
16%
2025
Unemployment rate
7.1%
2024
2.43%
2024
Population
2829914
141906741

Spending and national debt comparison by year

Lithuania
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Lithuania Russia
Government spending Government debt Government spending Government debt
2024 39.5% 38.2% 36.9% 20.3%
2023 37.4% 37.3% 35.7% 19.5%
2022 36.3% 38.1% 35.2% 18.5%
2021 37.3% 43.3% 34.9% 16.5%
2020 42.4% 45.9% 39.2% 19.2%
2019 34.6% 35.6% 33.8% 13.7%
2018 33.8% 33.3% 32.6% 13.6%
2017 33.4% 39.3% 34.8% 14.3%
2016 34.5% 40% 36.6% 14.8%
2015 35.2% 42.6% 35.3% 15.3%
2014 35% 40.7% 34.9% 15.1%
2013 35.7% 38.9% 34.7% 12.3%
2012 36.6% 39.9% 34% 11.2%
2011 40.1% 37.5% 33.3% 10.3%
2010 43% 36.7% 35.5% 10.1%
2009 44.8% 27.9% 38.6% 9.92%
2008 38.2% 14.6% 32% 7.45%
2007 35.3% 15.9% 31.9% 8.03%
2006 34.4% 17.3% 29% 9.8%
2005 34.1% 17.6% 29.5% 14.9%
2004 33.9% 18.6% 29.6% 20.8%
2003 32.8% 20.4% 32.6% 28.3%
2002 34.4% 22.1% 33.8% 37.6%
2001 36.5% 22.9% 31.5% 44.4%
2000 38.7% 23.5% 30.7% 55.9%
1999 42.4% 28% 34.3% 92.4%
1998 39.6% 21.7% 39.7% 135.2%
1997 35% - - 51.5%
1996 34.4% - - 51.9%
1995 35.5% - - 53.7%
1994 - - - 63.5%
1993 - - - 92.4%
1992 - - - 116%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1992–1996, retrieved 2026-02-20).

GeoRank.org/economy/lithuania/russia | CC BY

In 2024, Lithuania's government spending was $33.5B, accounting for 39.5% of its GDP, while Russia spent $802B, or 36.9% of GDP.

Debt-to-GDP ratio is 38.2% in Lithuania and 20.3% in Russia, ranking 139/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Lithuania

Russia
1x
Year Deficit/surplus, % of GDP
Lithuania Russia
2024 -1.28% -1.6%
2023 -0.69% -2.22%
2022 -0.72% -1.34%
2021 -1.15% 0.78%
2020 -6.42% -3.99%
2019 0.41% 1.93%
2018 0.52% 2.92%
2017 0.36% -1.47%
2016 0.03% -3.67%
2015 -0.77% -3.39%
2014 -1.79% -1.07%
2013 -2.69% -1.16%
2012 -3.15% 0.38%
2011 -5.92% 1.43%
2010 -6.95% -3.19%
2009 -9.09% -5.89%
2008 -3.09% 4.55%
2007 -0.82% 5.59%
2006 -0.27% 7.8%
2005 -0.34% 7.6%
2004 -1.39% 4.57%
2003 -1.26% 1.35%
2002 -1.85% 0.67%
2001 -3.52% 2.99%
2000 -3.18% 3.11%
1999 -7.82% -3.59%
1998 -4.93% -7.42%
1997 -0.76% -
1996 -3.59% -
1995 -3.31% -
1994 - -
1993 - -
1992 - -
1991 - -
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - 0.15%
1939 - 0.12%
1938 - 0.16%
1937 - 0.12%
1936 - 0.1%
1935 - 0.07%
1934 - 0.25%
1933 - 0.58%
1932 - 0.06%
1931 - -1.12%
1930 - -1.62%
1929 - -0.4%
1928 - -0.4%
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 - 0.69%
1911 - 1.26%
1910 - 1.52%
1909 - -0.15%
1908 - -0.83%
1907 - -0.86%
1906 - -3.19%
1905 - -7.72%
1904 - -5.13%
1903 - 1.04%
1902 - -1.57%
1901 - 0.14%
1900 - -0.36%
1899 - 0.66%
1898 - 0.03%
1897 - 0.34%
1896 - 1.3%
1895 - 0.7%
1894 - 1.43%
1893 - 0.63%
1892 - -1.16%
1891 - -0.97%
1890 - 0.01%
1889 - 1.34%
1888 - 0.88%
1887 - 0.14%
1886 - -0.84%
1885 - -0.75%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1940, retrieved 2026-02-20).

GeoRank.org/economy/lithuania/russia | CC BY

In 2024, Lithuania's government deficit, the difference between spending and revenue, was $1.09B, equivalent to 1.28% of GDP. This compares to Russia's deficit of $34.9B, or 1.6% of GDP.

Over the past 27 years, Lithuania recorded a fiscal deficit in 23 of those years, while Russia ran a deficit in 13 years. On average, Lithuania posted an annual deficit equal to 2.51% of GDP, compared to surplus of 0.21% of GDP for Russia.

Inflation comparison by year

Inflation
Lithuania

Russia
1x
Year Consumer prices inflation
Lithuania Russia
2024 0.72% 8.4%
2023 9.12% 5.9%
2022 19.7% 13.7%
2021 4.68% 6.7%
2020 1.2% 3.4%
2019 2.33% 4.5%
2018 2.7% 2.9%
2017 3.72% 3.7%
2016 0.91% 7%
2015 -0.88% 15.5%
2014 0.1% 7.8%
2013 1.05% 6.8%
2012 3.09% 5.1%
2011 4.13% 8.4%
2010 1.32% 6.8%
2009 4.45% 11.6%
2008 10.9% 14.1%
2007 5.74% 9%
2006 3.74% 9.7%
2005 2.66% 12.7%
2004 1.16% 10.9%
2003 -1.13% 13.7%
2002 0.28% 15.8%
2001 1.37% 21.5%
2000 0.98% 20.8%
1999 0.73% 85.7%
1998 5.07% 27.7%
1997 8.88% 14.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/lithuania/russia | CC BY

Over the past 28 years, Lithuania has recorded an average annual inflation rate of 3.53%, compared with 13.4% in Russia. In 2024, inflation was 0.72% in Lithuania and 8.4% in Russia.

Top exports between countries

Lithuania
Export category Export value
Transport & tourism services $583M
Processed food, beverages & tobacco $163M
Machinery & equipment $149M
Textiles & consumer goods $127M
Chemicals & pharma $107M
Raw materials & minerals $58.5M
Raw agricultural goods $39.4M
Metals $27.4M
Wood & paper products $16.6M
Manufacturing & construction services $15.7M
Russia
Export category Export value
Raw materials & minerals $2.43B
Machinery & equipment $540M
Miscellaneous $445M
Metals $356M
Chemicals & pharma $275M
Transport & tourism services $234M
Wood & paper products $230M
Processed food, beverages & tobacco $136M
Raw agricultural goods $79M
Textiles & consumer goods $51.4M

Balance of trade

Lithuania Russia
Current account balance
$2.77B
2024
$63.4B
2024
Current account balance ranking
41/190
2024
12/190
2024
Current account balance, % of GDP
+3.27%
2024
+2.91%
2024
Goods imports
$43.8B
2024
$302B
2024
Goods exports
$38.9B
2024
$434B
2024
Service imports
$14.7B
2024
$81.5B
2024
Service exports
$24.3B
2024
$43.1B
2024
Imports of goods and services, % of GDP
68.9%
2024
17.6%
2024
Exports of goods and services, % of GDP
74.1%
2024
21.9%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Lithuania Russia
Economic freedom 75.3 50.3
Economic freedom ranking 18/197 161/197
Property rights 91.8 18.6
Government integrity 71.4 22.8
Judicial effectiveness 73.2 22.8
Tax burden 76.2 81.9
Government spending 57.3 61.3
Fiscal health 95.8 94.4
Business freedom 84.2 51.4
Labor freedom 58.1 59.1
Monetary freedom 76.7 61.8
Trade freedom 79.4 69.4
Investment freedom 70 30
Financial freedom 70 30

Economic freedom comparison by year

Lithuania
Russia
1x
Year Economic freedom index
Lithuania Russia
2026 75.3 50.3
2025 74.6 51.6
2024 72.9 52
2023 72.2 53.8
2022 75.8 56.1
2021 76.9 61.5
2020 76.7 61
2019 74.2 58.9
2018 75.3 58.2
2017 75.8 57.1
2016 75.2 50.6
2015 74.7 52.1
2014 73 51.9
2013 72.1 51.1
2012 71.5 50.5
2011 71.3 50.5
2010 70.3 50.3
2009 70 50.8
2008 70.9 49.8
2007 71.5 52.2
2006 71.8 52.4
2005 70.5 51.3
2004 72.4 52.8
2003 69.7 50.8
2002 66.1 48.7
2001 65.5 49.8
2000 61.9 51.8
1999 61.5 54.5
1998 59.4 52.8
1997 57.3 48.6
1996 49.7 51.6
1995 - 51.1

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/lithuania/russia | CC BY

The Economic Freedom Index for Lithuania is 75.3, ranking 18/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lithuania Russia
Services, % of GDP
63.6%
2024
57.5%
2024
Industry, % of GDP
23.4%
2024
30.7%
2024
Agriculture, forestry, and fishing, % of GDP
2.57%
2024
2.74%
2024
GNI, Atlas method
$78.4B
2024
$2.24T
2024
GNI per capita, PPP
$53,920
2024
$46,780
2024
Total reserves including gold
$7.41B
2024
$597B
2023
Total reserves ranking
86/177
2024
6/177
2023
Net foreign direct investment
-$3.91B
2024
$9.37B
2024
Net inflows of foreign direct investment
$4.7B
2024
-$9.35B
2024
Net outflows of foreign direct investment
$795M
2024
-$170M
2024
Servicing debt to the IMF, % of GNI n/a
2.65%
2024
Poverty at national poverty lines
20.9%
2021
12.1%
2020
Gross capital formation, % of GDP
20.4%
2024
26.3%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/lithuania/russia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1996, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.