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Panev
ėžys is the fifth largest city in Lithuania. It is a crossroad for the main national roads, the highway VIA BALTICA runs through it. Railway lines provide good transportation facilities, the narrow gauge railway is used for tourism.It is halfway between the two Baltic capitals- Vilnius and Riga. The distance to the ice-free sea port is 225 km. A favourable geographical position provided good possibilities for many companies to be established in the city.
In 2009 the GDP of Panevėžys County made 5,9 % of the total national GDP. Comparing with 2008 the GDP of Panevėžys County decreased 18 % and made 5,4 mlrd.Litas. In 2009 one inhabitant of the County received 19,3 thousand Litas (18 % less than in 2008) or 70,4 % comparing with the national average.
For January 1st, 2011 there were 3458 companies functioning in Panevėžys. The largest part is covered by wholesale and retail traders(911), real estate and rent sector (586), manufacturing industry(347), transport and storage (248) and construction sector (202).
Small and medium business ( companies with 1-9 employees) prevail in Panevėžys.
Functioning Companies in Accordance to the Number of Employees in the City of Panevėžys for January 1st, 2011
| Employees | 0-4 | 5-9 | 10-19 | 20-49 | 50-99 | 100-149 | 150-249 | 250-499 | 500-999 | 1000 and more |
| Functioning Companies | 2245 | 553 | 305 | 195 | 104 |
21 |
16 |
15 |
3 |
1 |
Comapanies of Panevėžys in Accordance to Legal Form in the beginning of 2011
Over 40 000 employees work in the comapnaies of Panevėžys (the average number of employees in 2009- 38 379). The average monthly salary including taxes in 2009- 1 892 Litas. The turnover of the companies functioning in Panevėžys reached 6140, 5 Mln. Litas in 2009.
The Turnover of Companies in Accordance to Kind of Economical Activities in 2008
|
Kind of Economical Activities |
Turnover, mln. Lt |
| Agriculture, hunting, forestry and fishery |
28,7 |
| Mining and Quarrying; Manufacturing Industry |
1892,6 |
| Supply of Electricity, Gas and Water |
367,5 |
| Construction |
1471,9 |
|
Wholesale and Retail Trade, Reapairing of Motor Transport Vehicles and Motocycles, Repairing of Personal Belongings and Household Things |
3901,1 |
| Hotel and Restaurants |
66,7 |
| Transport, Storage and Intercommunications |
531,1 |
| Real Estate, Lease and Other Business Activities |
250,8 |
| Education, Health Care, Other Communal and Social Service Activities |
158,4 |
| TOTAL |
8668,8 |
Export is mainly directed to Europe, Asia and NIS. In 2009 the General City Export equaled to 6 per cent of the total Lithuanian export. Norwegian Industry Park, the only such in Lithuania, is rather successful in Panevėžys.
In the beginning of 2010 the direct foreign investments in the City of Panevėžys made 408, 9 mln. Litas (in the beginning of 2009 - 506, 5 mln. Litas). In the beginning of 2010 one inhabitant of the city received 3653 Litas of foreign capital (in the beginning of 2009- 4489 Litas). 1,2 % of the total foreign capital invested in Lithuania was shared by the companies of Panevėžys.
Investments in Panevėžys by the End of the Year
|
Year |
Direct Foreign Investments in mln. Litas |
Direct Foreign Investments to one Inhabitant, Litas |
Material Investments, mln. Litas |
Material Investments to one Inhabitant, Litas |
|
2007 |
512,9 |
4513 |
704,4 |
6173 |
|
2008 |
505,6 |
4489 |
775,1 |
6851 |
|
2009 |
408,9 |
3653 |
221,5 |
1973 |
According to the investments of 01 01 2011, the biggest countries investors in Panevėžys County are Denmark (invested 118,8 mln. Litas), Germany (invested 87,3 mln. Litas), Poland (invested 74,7 mln. Litas), Norway (invested 58,9 mln. Litas), Estonia (invested 24,2 mln. Litas).
The biggest investments cover manufacturing industry, wholesale and retail trade, real estate, lease and other business activities.