DRP opens Lithuania at Kristiana Vilnius !

Our local Researcher has just posted the retail prices collected at KRISTIANA chain store in Vilnius. Prices are set in LTL (1 Litas is 0,29 Euro). Most of the brands belonging to the DRP fragrance and skincare lists are included in the survey. Our Researcher in Vilnius keeps in touch with local Distributers in order be able to add the E. Lauder companies brands soon. All data are available on mydrp in the ExcelSearch portfolio.

The Lithuania has the fastest growing economy among all three Baltic States.It achieved a GDP growth of 7.9% in the first half of this year exceeding all forecasts.The growth rate are expected to remain at 6-6.5% in the coming years. The present government has maintained a tough fiscal policy and it has renewed its stand-by agreement with the IMF in August.

Standard of living : Lithuania's labour costs are among lowest in Europe. The minimum monthly salary is 450 litas (130 EUR). The average gross monthly salary is 1.125 litas (326 EUR) (1st quarter 2003). Inflation is steadily low: 0% in 2002 and 1st quarter of 2003.

Lithuania will become a member of EU in May 2004 and NATO membership is expected in the first half of 2004.The next Parliamentary elections are due in 2004

Key economic indicators:
GDP growth for 2000: 3.9%*
GDP growth for 2001: 5.7%*
GDP growth for 2002: 6.7%*
GDP first quarter 2003: 9.4%*
Inflation rate: 0% (2002)
Unemployment: 11.3% (2002)

Source * Lithuanian Stastistic Department