Lithuanian economy shrank 0.3 percent on quarter in the three months to September 2018, less than an earlier estimate of a 0.4 percent decline and compared to a 0.9 percent rise in the previous period, the second estimate showed. It is the first contraction since Q3 2010. Negative contributions came mostly from agriculture, forestry & fisheries (-7.8% vs -0.3% in Q2); arts, entertainment & recreation activities (-1.0% vs -0.1%) and professional, scientific and technical activities, administrative & support activities (-0.6% vs 2.5%). Conversely, growth was seen in wholesale and retail trade; repair of motor vehicles & motorcycles, transport and storage, accommodation & food services (1.7% vs 1.5%); construction (3.1% vs 1.3%) and financial and insurance activities (1.1% vs 0.4%). Year-on-year, the GDP advanced 2.4 percent, above a first reading of 2.2 percent, but slower than a 3.8 percent expansion in the second quarter. It is the slowest quarterly growth rate since Q3 2016. GDP Growth Rate in Lithuania averaged 1.04 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 0.70 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 0.60 percent in 2020, according to our econometric models.

Lithuania GDP Growth Rate
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2018-07-30 08:00 AM GDP Growth Rate QoQ Flash 0.9% 0.9% 0.7%
2018-08-31 08:00 AM GDP Growth Rate QoQ 2nd Est 0.9% 0.9% 0.9%
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%
2019-01-29 09:00 AM GDP Growth Rate QoQ Flash -0.3% 0.70%
2019-03-01 09:00 AM GDP Growth Rate QoQ 2nd Est 0.70%
2019-04-30 09:00 AM GDP Growth Rate QoQ Flash 0.80%

Lithuania GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.30 0.90 4.80 -13.10 percent [+]
GDP Annual Growth Rate 2.40 3.80 12.30 -15.70 percent [+]
GDP 47.17 42.77 48.52 7.00 USD Billion [+]
GDP Constant Prices 9264.00 9292.70 9292.70 6412.40 EUR Million [+]
Gross National Product 40334.10 37143.30 40334.10 3366.50 EUR Million [+]
Gross Fixed Capital Formation 2069.40 1952.90 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 [+]

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). 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-0.30 0.90 4.80 -13.10 1995 - 2018 percent Quarterly

Country Last Previous
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
Singapore 3.00 Sep/18
South Africa 2.20 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Russia 0.90 Jun/18
Brazil 0.80 Sep/18
Mexico 0.80 Sep/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
Canada 0.50 Sep/18
France 0.40 Sep/18
Australia 0.30 Sep/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Saudi Arabia -0.05 Mar/18
Italy -0.10 Sep/18
Germany -0.20 Sep/18
Switzerland -0.20 Sep/18
Japan -0.60 Sep/18
Turkey -1.10 Sep/18
Argentina -4.00 Jun/18