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.
GDP Growth Rate in Lithuania averaged 1.04 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 -13.10 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 July 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.