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.

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Lithuania GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-5.50 -0.30 4.80 -12.70 1995 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-30 06:00 AM QoQ Flash Q1 -0.2% 1.1% -0.5%
2020-06-01 06:00 AM QoQ 2nd Est Q1 -0.3% 1.1% -0.2%
2020-07-30 06:00 AM QoQ Flash Q2 -5.1% -0.3% -13.5%
2020-08-31 06:00 AM QoQ 2nd Est Q2 -5.5% -0.3% -5.1%
2020-10-30 07:00 AM QoQ Flash Q3 -5.5% 6.5%
2020-12-01 07:00 AM QoQ 2nd Est Q3 6.5%


News Stream
Lithuania Enters Recession in Q2
Lithuania's economy shrank 5.1 percent on quarter in the three months to June 2020, entering a technical recession due to the coronavirus crisis, a preliminary estimate showed. Negative contributions came from wholesale and retail trade, transport and storage, accommodation and food service; manufacturing; professional, scientific, technical, administrative and support service activities. On a yearly basis, the GDP contracted by 3.7 percent, the first contraction since the first quarter 2010, reversing a 2.4 percent expansion in the previous period.
2020-07-30
Lithuanian Economy Shrinks 0.3% QoQ in Q1
Lithuanian economy shrank 0.3 percent on quarter in the three months to March 2020, worse than an earlier estimate of a 0.2 percent contraction and compared to a 1.1 percent growth in the previous period. This was the first contraction in GDP since the third quarter 2010. Decreases were reported in manufacturing (-1.3 percent vs 1.5 percent in Q4); wholesale and retail trade transport, accommodation and food service activities (-0.5 percent vs 1.0 percent); information and communication (-0.8 percent vs 1.7 percent), and real-estate activities (-2.4 percent vs 1.4 percent). On a yearly basis, GDP rose by 2.4 percent, slower than a 3.8 percent expansion in the fourth quarter 2019.
2020-06-01
Lithuanian Economy Shrinks for 1st Time in 9-1/2 Years
Lithuanian economy shrank 0.2 percent on quarter in the three months to March 2020, compared to an upwardly revised 1.1 percent growth in the previous period, the preliminary estimate showed. This was the first contraction in GDP since the third quarter 2010. Decreases were reported in industry; real estate; wholesale and retail trade; transport and storage; accommodation; and catering. On a yearly basis, GDP rose by 2.6 percent, slower than a 3.8 percent expansion in the fourth quarter 2019.
2020-04-30
Lithuania Q4 GDP Growth Revised Lower to 1%
Lithuanian economy grew 1.0 percent on quarter in the three months to December 2019, less than an earlier estimate of a 1.3 percent growth and compared to an upwardly revised 0.8 percent rise in the previous period. This was the strongest GDP growth since the first quarter. Positive contributions came mostly from wholesale and retail trade; repair of motor vehicles & motorcycles, transport and storage, accommodation & food services (1.5% vs 1.5%); agriculture, forestry & fisheries (1.3% vs 3.5%); construction (1.9% vs 1.2%); manufacturing (1.4% vs 0.5%), information and communication (2.1% vs 1.1%), and financial and insurance activities (0.9% vs 0.2%). Year-on-year, the GDP advanced 3.8 percent, unchanged from a first reading, and the same pace as in the third quarter.
2020-03-02

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).