Lithuanian economy shrank 0.2 percent on quarter in the three months to December 2020, reversing from an earlier estimate of 1.2 percent expansion and after a 3.8 percent growth in the previous period. Decreases were reported in agriculture, forestry and fishing (-1.8% vs 1.4% in Q3), real estate activities (-0.7% vs 0%), public administration and defense; education, human health and social work activities (-0.4% vs 1.7%), arts, entertainment and recreation activities, repair of household goods and other services (-12.4% vs 8.6%). By contrast, output expanded for information and communication (2.3% vs 4.4%) ), construction (1.9% vs 3.0%), and professional, scientific and technical activities, administrative and support service activities (3.5% vs 4.0%). On a yearly basis, the GDP shrank by 1.0 percent, reversing from a 0.1 percent expansion in the third quarter 2020. In 2020 as a whole, the economy shrank by 0.8 percent. source: Statistics Lithuania

GDP Growth Rate in Lithuania averaged 0.99 percent from 1995 until 2020, reaching an all time high of 4.80 percent in the first quarter of 2003 and a record low of -12.70 percent in the first quarter of 2009. This page provides - Lithuania GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Lithuania GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.

GDP Growth Rate in Lithuania is expected to be -0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Lithuania to stand at 0.60 in 12 months time. In the long-term, the Lithuania GDP Growth Rate is projected to trend around 0.50 percent in 2022 and 1.00 percent in 2023, according to our econometric models.

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Lithuania GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.20 3.80 4.80 -12.70 1995 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-10-30 07:00 AM QoQ Flash Q3 3.7% -5.9% 3.5%
2020-12-01 07:00 AM QoQ 2nd Est Q3 3.8% -5.9% 3.7%
2021-01-29 07:00 AM QoQ Flash Q4 1.2% 3.8% -2.5%
2021-03-01 07:00 AM QoQ 2nd Est Q4 -0.2% 3.8% 1.2%
2021-04-30 06:00 AM QoQ Flash Q1 -0.2% -0.6%
2021-06-01 06:00 AM QoQ 2nd Est Q1
2021-07-30 06:00 AM QoQ Flash Q2 0.5%
2021-08-31 06:00 AM QoQ 2nd Est Q2
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Lithuania Economy Shrinks 0.2% in Q4
Lithuanian economy shrank 0.2 percent on quarter in the three months to December 2020, reversing from an earlier estimate of 1.2 percent expansion and after a 3.8 percent growth in the previous period. Decreases were reported in agriculture, forestry and fishing (-1.8% vs 1.4% in Q3), real estate activities (-0.7% vs 0%), public administration and defense; education, human health and social work activities (-0.4% vs 1.7%), arts, entertainment and recreation activities, repair of household goods and other services (-12.4% vs 8.6%). By contrast, output expanded for information and communication (2.3% vs 4.4%) ), construction (1.9% vs 3.0%), and professional, scientific and technical activities, administrative and support service activities (3.5% vs 4.0%). On a yearly basis, the GDP shrank by 1.0 percent, reversing from a 0.1 percent expansion in the third quarter 2020. In 2020 as a whole, the economy shrank by 0.8 percent.
2021-03-01
Lithuania GDP Growth Eases to 1.2% in Q4
Lithuanian economy expanded 1.2 percent on quarter in the three months to December 2020, slowing from a 3.8 percent growth in the previous period, the preliminary estimate showed. Positive contributions came from wholesale and retail trade, industry and professional, scientific and technical. On a yearly basis, the GDP shrank 1.2 percent, reversing from a 0.1 percent expansion in the third quarter 2020.
2021-01-29
Lithuania Q3 GDP Growth Rate Revised Up to 3.8%
Lithuanian economy advanced 3.8 percent on quarter in the three months to September 2020, faster than an earlier estimate of 3 7 percent expansion and after a 5.9 percent contraction in the previous period. Increases were reported in manufacturing (4.6% vs -2.0% in Q2); wholesale and retail trade transport, accommodation and food service activities (7.2% vs -9.5%); information and professional, scientific and technical activities, administrative and service activities (4.0% vs -14.5%) ),communication (4.1% vs -5.4%), construction (2.2% vs -11.3%), agriculture, forestry and fishing (1.0% vs 3.9%). On a yearly basis, the GDP grew by 0.1 percent, after a 4.6 percent contraction in the second quarter 2020.
2020-12-01
Lithuania Economy Grows 3.7% QoQ in Q3
Lithuanian economy grew 3.7 percent on quarter in the three months to September 2020, after an upwardly revised 5.9 percent contraction in the previous period, the preliminary estimate showed. Positive contributions came from wholesale and retail trade, industry and construction. On a yearly basis, the GDP shrank by 0.1 percent, the second straight quarter of contraction, after an upwardly revised 4.6 percent contraction in the second quarter 2020.
2020-10-30

Lithuania GDP Growth Rate
In 2015, Lithuania became the 19th member of Euro Area. Lithuania’s service sector constitutes the largest share of GDP with information and communication technologies being the fastest growing. Also, in recent years Lithuania has shifted towards a knowledge-based economy: several companies produce sophisticated biotech products like pharmaceutical substances, components for molecular diagnostics and laser equipment. On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by gross fixed capital formation (19 percent) and government expenditure (17 percent). Exports of goods and services account for 81 percent while imports account for 79 percent, adding 2 percent of total GDP. On a production side, the wholesale and retail trade, transport, accommodation and food service activities sector is the most important and accounts for around 32 percent to total GDP. It follows by industry (23 percent of total GDP); manufacturing (19 percent); public administration, defence, education, human health and social work activities (14 percent); construction (7 percent); real estate activities (6 percent); professional, scientific and technical activities and administrative and support services (6 percent); information and communication (3 percent); agriculture (4 percent); financial and insurance (2 percent); and arts, entertainment and recreation, repair of household goods and other services (2 percent).