Lithuanian economy shrank 5.5 percent on quarter in the three months to June 2020, worse than an earlier estimate of a 5.1 percent contraction and compared to a 0.3 percent growth in the previous period. This was the second straight quarter of contraction in GDP and the steepest fall since the first quarter 2009. Decreases were reported in manufacturing (-4.4% vs -2.3% in Q1); wholesale and retail trade transport, accommodation and food service activities (-7.6% vs -11.4%); information and communication (-0.1% vs 2.4%), construction (-9.5% vs 4.7%), real-estate activities (-3.2% vs 0.2%), financial and insurance activities (-1.8% vs 1.8%), agriculture, forestry and fishing (-0.9% vs -8.7%). On a yearly basis, the GDP contracted by 4.2 percent, the first contraction since the first quarter 2010, reversing a 2.4 percent expansion in the previous period.
GDP Annual Growth Rate in Lithuania averaged 4.20 percent from 1996 until 2020, 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 September of 2020.
GDP Annual Growth Rate in Lithuania is expected to be -9.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Lithuania to stand at 3.70 in 12 months time. In the long-term, the Lithuania GDP Annual Growth Rate is projected to trend around 5.50 percent in 2021 and 2.80 percent in 2022, according to our econometric models.