The economy of Lithuania dropped by 0.4 percent year-on-year in the fourth quarter of 2022, pointing to the first contraction since the second quarter of 2020 and following a 1.8 percent expansion in the previous quarter. source: Statistics Lithuania

GDP Annual Growth Rate in Lithuania averaged 4.16 percent from 1996 until 2022, reaching an all time high of 12.30 percent in the third quarter of 2007 and a record low of -15.70 percent in the second quarter of 2009. This page provides - Lithuania GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Lithuania GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.

GDP Annual Growth Rate in Lithuania is expected to be -0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Lithuania GDP Annual Growth Rate is projected to trend around 2.40 percent in 2024 and 2.70 percent in 2025, according to our econometric models.

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Lithuania GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2022-11-30 07:00 AM YoY 2nd Est Q3 2% 1.7% 1.8%
2023-01-31 07:00 AM YoY Flash Q4 -0.4% 1.8% 0.5%
2023-03-01 07:00 AM YoY 2nd Est Q4 1.8% -0.4%

Related Last Previous Unit Reference
GDP Growth Rate -1.70 1.60 percent Dec 2022
GDP Annual Growth Rate -0.40 1.80 percent Dec 2022
GDP Constant Prices 11640.50 11844.60 EUR Million Dec 2022
Gross National Product 53392.60 48075.60 EUR Million Dec 2021
Gross Fixed Capital Formation 2826.00 2674.40 EUR Million Sep 2022

Lithuania GDP Annual Growth Rate
Lithuania joined the Euro Area in January 2015. The country was among the hardest hit by the global financial crisis in 2008, with the GDP contracting by 14.8 percent in 2009. Since 2010, however, Lithuania has been ranked among the fastest growing economies in the European Union. 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, defense, 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).
Actual Previous Highest Lowest Dates Unit Frequency
-0.40 1.80 12.30 -15.70 1996 - 2022 percent Quarterly