Friday, August 13, 2010

Lithuania, Vilnius - Cost of Living

The economy of Lithuania changed radically after the country established its independence from the Soviet Union in 1990. It then made a transition towards capitalist free market principles, enjoying high growth rates after entering the European Union along with other Baltic states.

Vilnius is the largest city and the capital of Lithuania. Vilnius is the major economic centre of Lithuania and one of the largest financial centres of the Baltic states. Even though it is home to only 15% of Lithuania's population, it generates approximately 25% of Lithuania's GDP.

Vilnius has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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