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.
GDP Growth Rate in Lithuania averaged 0.98 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 August 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.