Lithuania GDP Growth Rate

Lithuanian economy grew 1.3% on quarter in the three months to December 2018, less than an earlier estimate of a 1.6% growth and compared to an upwardly revised 0.4% rise in the previous period, the second estimate showed. It is the strongest growth since the fourth quarter 2016. Gross fixed capital formation jumped 11.7%, after showing no growth in Q3, led by a rebound in other machinery, equipment and weapon systems (5.6% from -11.2%) and faster rises in other buildings and structures (1.7% from 0.9%) and intellectual property products (6.5% from 0.6%). On the other hand, households’ consumption fell 0.1% (from 1.3% in Q3) and government spending showed no growth (from 0.3%). Meanwhile, net trade contributed negatively to growth, as exports went up 0.4% (from 1.2% in Q3) while imports climbed at a faster 1.5% (from 1.7% in Q3). Year-on-year, the GDP advanced 3.7%, below a first reading of 3.9%, and compared to a 2.6% rise in the third quarter. GDP Growth Rate in Lithuania averaged 1.05 percent from 1995 until 2018, reaching an all time high of 4.80 percent in the first quarter of 2003 and a record low of -13.10 percent in the first quarter of 2009.

GDP Growth Rate in Lithuania is expected to be 0.90 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 0.50 in 12 months time. In the long-term, the Lithuania GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.

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Calendar	GMT		Actual	Previous	TEForecast
2018-10-30	09:00 AM	GDP Growth Rate QoQ Flash	-0.4%	0.9%	0.6%
2018-11-30	09:00 AM	GDP Growth Rate QoQ 2nd Est	-0.3%	0.9%	-0.4%
2019-01-30	07:00 AM	GDP Growth Rate QoQ Flash	1.6%	0.1%	0.7%
2019-03-01	07:00 AM	GDP Growth Rate QoQ 2nd Est	1.3%	0.4%	1.6%
2019-04-30	06:00 AM	GDP Growth Rate QoQ Flash		1.3%	0.9%
2019-05-31	06:00 AM	GDP Growth Rate QoQ 2nd Est		1.3%	0.9%
2019-07-30	06:00 AM	GDP Growth Rate QoQ Flash			0.8%

Lithuania GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	1.30	0.40	4.80	-13.10	percent	[+]
GDP Annual Growth Rate	3.70	2.60	12.30	-15.70	percent	[+]
GDP	47.17	42.77	48.52	7.00	USD Billion	[+]
GDP Constant Prices	9429.40	9307.10	9429.40	6412.40	EUR Million	[+]
Gross National Product	40334.10	37143.30	40334.10	3366.50	EUR Million	[+]
Gross Fixed Capital Formation	2075.50	2069.40	2193.50	694.80	EUR Million	[+]
GDP per capita	16793.25	15945.52	16793.25	5322.42	USD	[+]
GDP per capita PPP	29524.26	28033.87	29524.26	8862.00	USD	[+]

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). This page provides - Lithuania GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Lithuania GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	1.30	0.40	4.80	-13.10	1995 - 2018	percent	Quarterly	SA

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Country	Last		Previous	Range
United States	2.60	Dec/18	3.4	16.7 : -10	%
Saudi Arabia	1.60	Sep/18	0.6	8.8 : -2.3	%
China	1.50	Dec/18	1.6	2.4 : 1.4	%
India	1.50	Sep/18	1.8	5.8 : -1.8	%
Singapore	1.40	Dec/18	1.4	36.1 : -13.4	%
South Africa	1.40	Dec/18	2.6	7.6 : -6.1	%
South Korea	1.00	Dec/18	0.6	7.8 : -7	%
Spain	0.70	Dec/18	0.6	1.6 : -1.6	%
Japan	0.50	Dec/18	-0.6	3.2 : -4.8	%
Netherlands	0.50	Dec/18	0.1	1.7 : -3.6	%
France	0.30	Dec/18	0.3	8 : -5.3	%
Russia	0.30	Sep/18	0.5	4.1 : -5.4	%
Australia	0.20	Dec/18	0.3	4.4 : -2	%
Euro Area	0.20	Dec/18	0.1	1.3 : -3	%
Mexico	0.20	Dec/18	0.6	3.2 : -5.7	%
Switzerland	0.20	Dec/18	-0.3	2.4 : -1.9	%
United Kingdom	0.20	Dec/18	0.6	5 : -2.7	%
Brazil	0.10	Dec/18	0.5	4 : -3.9	%
Canada	0.10	Dec/18	0.5	3.1 : -2.3	%
Germany	0.00	Dec/18	-0.2	4 : -4.5	%
Italy	-0.10	Dec/18	-0.1	6 : -2.7	%
Argentina	-0.70	Sep/18	-4.1	5 : -5.7	%
Indonesia	-1.69	Dec/18	3.09	4.21 : -3.57	%
Turkey	-2.40	Dec/18	-1.6	5.6 : -5.2	%