Middle class incomes have grown substantially in all Baltic countries, tripling from 2005 to 2017 with Estonian and Latvian middle classes becoming relatively even better-off than their Lithuanian counterparts.
"In Lithuania the rich have enjoyed relatively larger income gains," Swedbank says.
Indeed, despite many positive developments, income inequality remains a pressing issue with wealthiest sectors of society gaining ground faster than the poor.
"Addressing income inequality is far from simple and requires a complex approach," Swedbank concludes.
You can read the research in full at the Swedbank website.