The Gross Domestic Product (GDP) in Lithuania expanded 7.80 percent in the second quarter of 2021 over the same quarter of the previous year. source: Statistics Lithuania

GDP Annual Growth Rate in Lithuania averaged 4.14 percent from 1996 until 2021, 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 October of 2021.

GDP Annual Growth Rate in Lithuania is expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Lithuania GDP Annual Growth Rate is projected to trend around 4.50 percent in 2022 and 3.90 percent in 2023, according to our econometric models.

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Lithuania GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2021-07-30 06:00 AM YoY Flash Q2 6.9% 1.2% 6.9%
2021-08-31 06:00 AM YoY 2nd Est Q2 7.8% 1.5% 6.9%
2021-10-29 06:00 AM YoY Flash Q3 7.8% 2.1%

Related Last Previous Unit Reference
GDP Growth Rate 1.00 2.20 percent Jun/21
GDP Annual Growth Rate 7.80 1.50 percent Jun/21
GDP Constant Prices 11138.40 11091.40 EUR Million Jun/21
Gross National Product 47412.40 47109.90 EUR Million Dec/20
Gross Fixed Capital Formation 2699.00 2145.30 EUR Million Jun/21
Lithuania GDP Annual Growth Rate
Lithuania joined the Euro Area in January 2015. The country was among the hardest hit by the global financial crisis in 2008, the GDP contracted by 14.8 percent in 2009. Since 2010, however, Lithuania has been ranked among the fastest growing economies in the European Union. 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).