Analytics, Baltic, Banks, Financial Services

The survey by Estonian research agency Kantar Emor in the Baltic states showed that Lithuanian plan to borrow more than Latvians or Estonians as the 39% of Latvian residents said they planned to get a loan or buy something on an installment basis, and 42% of Estonians planned to do so.

Aivar Voog, a research expert at Kantar Emor, says the central banks' figures show Lithuanians have the smallest financial burden per capita, compared to Latvia or Estonia, despite their increased interest in loans.

"The central banks' figures on people's financial burden show that financial burden for everyone – from a baby till old age – stands at 7,500 euros per resident in Estonia, amounts to 3,600 euros in Latvia and 3,400 people in Lithuania," Voog said.

34% of Lithuanian plan to spend the loan on buying real estate, the research shows. 31% pan to buy durable goods, 26% plan to acquire or repair a car, and 24% plan to spend the money on building a house.

Meanwhile in Estonia, the majority of people plan to borrow for a car (31%) and 33% in Latvia plan to spend the borrowed money on durable goods.

The Kantar Emor survey involved 1,000 people in each of the three Baltic states. The survey was carried out last spring in Estonia and last fall in Lithuania and Latvia.