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Economy of Lithuania


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Generale, UniCredit, Thermo Fisher Scientific, Phillip Morris, Kraft Foods, Mars, Marks & Spencer, GlaxoSmithKline, United Colors of Benetton, Deichmann, Statoil, Neste Oil, Lukoil, Tele2, Hesburger and Modern Times Group. TeliaSonera, ICA and Carslberg respectively own local telecommunications company Omnitel, retailer Rimi and beer breweries (Švyturys, Kalnapilis and Utenos Alus).

•    Lithuanian banking sector is dominated by the Scandinavian banks: Swedbank, SEB, Nordea, Danske Bank, DNB ASA.

•    Among the biggest Lithuanian companies are: Maxima Group, ORLEN Lietuva, Achema, Lifosa, Apranga.

•    Corporate tax rate in Lithuania is 15% and 5% for small businesses. The government offers special incentives for investments into the high-technology sectors and high value-added products.

•    Most of the trade Lithuania conducts is within the European Union.

•    The litas, the national currency, has been pegged to the euro since 2 February 2002 at the rate of EUR 1.00 = LTL 3.4528, and Lithuania is expecting to switch to the euro on 1 January 2014
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