Lithuanian economy shrank 5.5 percent on quarter in the three months to June 2020, worse than an earlier estimate of a 5.1 percent contraction and compared to a 0.3 percent contraction in the previous period. This was the second straight quarter of contraction in GDP and the steepest fall since the first quarter 2009. Decreases were reported in manufacturing (-4.4% vs -2.3% in Q1); wholesale and retail trade transport, accommodation and food service activities (-7.6% vs -11.4%); information and communication (-0.1% vs 2.4%), construction (-9.5% vs 4.7%), real-estate activities (-3.2% vs 0.2%), financial and insurance activities (-1.8% vs 1.8%), agriculture, forestry and fishing (-0.9% vs -8.7%). On a yearly basis, the GDP contracted by 4.2 percent, the first contraction since the first quarter 2010, reversing a 2.4 percent expansion in the previous period.
GDP Growth Rate in Lithuania averaged 0.97 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 September of 2020.
GDP Growth Rate in Lithuania is expected to be 6.50 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 1.30 in 12 months time. In the long-term, the Lithuania GDP Growth Rate is projected to trend around 0.70 percent in 2021 and 1.00 percent in 2022, according to our econometric models.