The economy of Lithuania is the largest economy among the three Baltic states. Lithuania is a member of the European Union.Lithuania belongs to the group of very high human development countries and is a member of WTO and OECD.. In the 1990s, Lithuania rapidly moved from a centrally planned economy to a market economy, implementing numerous liberal reforms.

The first known record of the name of Lithuania (Lithuanian: Lietuva) is in a 9 March 1009 story of Saint Bruno recorded in the Quedlinburg Chronicle (Latin: Annales Quedlinburgenses). The Chronicle recorded a Latinized form of the Old Church Slavonic word for Lithuania— Литва (Litva)—Latinized as Litva (pronounced [litua]).Although it is clear the name originated from a …