Lithuanian economy shrank 0.2 percent on quarter in the three months to December 2020, reversing from an earlier estimate of 1.2 percent expansion and after a 3.8 percent growth in the previous period. Decreases were reported in agriculture, forestry and fishing (-1.8% vs 1.4% in Q3), real estate activities (-0.7% vs 0%), public administration and defense; education, human health and social work activities (-0.4% vs 1.7%), arts, entertainment and recreation activities, repair of household goods and other services (-12.4% vs 8.6%). By contrast, output expanded for information and communication (2.3% vs 4.4%) ), construction (1.9% vs 3.0%), and professional, scientific and technical activities, administrative and support service activities (3.5% vs 4.0%). On a yearly basis, the GDP shrank by 1.0 percent, reversing from a 0.1 percent expansion in the third quarter 2020. In 2020 as a whole, the economy shrank by 0.8 percent. source: Statistics Lithuania
GDP Growth Rate in Lithuania averaged 0.99 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 March of 2021.
GDP Growth Rate in Lithuania is expected to be -0.60 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 0.60 in 12 months time. In the long-term, the Lithuania GDP Growth Rate is projected to trend around 0.50 percent in 2022 and 1.00 percent in 2023, according to our econometric models.