Lithuania Q2 GDP Revised Lower

The economy of Lithuania advanced by 0.7% quarter-on-quarter in the three months to June 2024, below preliminary estimates and an upwardly revised 0.9% in the previous quarter.

From the production approach, the largest positive contributions came from construction (3.2% vs -5.8% in Q1) and information & communication (0.8% vs -0.2%).

On the expenditure side, government spending increased (0.8% vs -0.1%), while gross fixed capital formation declined less (-5.3% vs -6.5%).

Meanwhile, net external demand also made a negative impact to the GDP, as exports (-1.8% vs 3.3%)) and imports (-2% vs 0.3%) dropped.

Additionally, household consumption decreased further (-1.8% vs 2.8%).

On a yearly basis, the GDP grew by 1.8% in the second quarter, falling short of initial estimates of 1.9% and down from a 3% rise in the preceding quarter.