12 pct of Lithuanians skip Christmas gifts due to financial shortages: survey

Nearly one out of 10 Lithuanians can't buy Christmas gifts due to their personal financial difficulties, a new survey showed on Friday.

The opinion poll, commissioned by Lithuanian leasing company SB Lizingas, showed that 12 percent of Lithuanians whose monthly salary does not exceed 200 euros (217 U.S. dollars) aren't able to buy gifts for their relatives.

However, those earning more than 1,000 euros monthly said they were putting aside a certain portion of their income for Christmas gifts.

Based on the findings of the survey, 38 percent of respondents said they spend from 30 to 99 euros for the gifts. As many as 39 percent buy gifts worth more than 100 euros, while 14 percent pay more than 200 euros for the purpose.

In a separate survey conducted by Lithuania's DNB bank, respondents said they spend around 75 euros for their Christmas meals and drinks. The survey also showed that the average spending on festive meals increased slower than wage increases in Lithuania, which is good news for consumers, the bank pointed out.

Based on the findings of DNB survey, Lithuanians will spend approximately 67 euros on average for gifts this year.

Toys, household appliances and computer selling companies, as well as confectionery manufacturers are among those increasing their sales the most during the Christmas period in Lithuania, DNB stated.

The average price of a traditional Christmas goods basket increased gradually over the last six years, which somewhat reflects the changing lifestyle in the Baltic country, Jekaterina Rojaka, DNB chief economist for the Baltic States said in her comment released on Friday.

"Time is becoming the most appreciated value, therefore, people tend to buy pre-prepared meals, which are more expensive," she explains.

According to Statistics Lithuania, average wages in Lithuania increased to 735.10 euros in the third quarter of 2015, up from 713.90 euros in the previous quarter. Endit