In 2015, Lithuania's currency became the euro

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In 1999, Lithuania embarked on the path to joining the European Union, and in 2004, it became a member. Prior to accession, the EU provided Lithuania with financial and reform assistance. The country has pegged the litas to the euro since 2002. It also became a member of NATO in 2004. Reforms in the 1990s and membership in the European Union laid the foundation for Lithuania's rapid economic growth.


The economy grew by an average of 8% per year taiyuan mobile database between 2001 and 2007. In 1998, Russia's share of Lithuania's trade was 45%, which had decreased to 21% by 2006, while the EU's share had increased to 63%. Lithuania was also affected by the global economic crisis of 2008-2009. However, since 2010, the economy has started to grow again, and by 2019 its economy grew by 50%.


The Covid pandemic and the Ukraine-Russia war have hit Lithuania hard, but in 2021-2024 the economy grew by 10%. Lithuania currently has seven free economic zones, where investors enjoy tax breaks. A significant portion of the country's economy is based on services, including a large and rapidly developing information and communication technology (ICT) sector, which is home to large Western companies.