In the fourth quarter, GDP grew 4.1% over the same period the year before. The result was below the 4.4% expansion recorded in the third quarter but slightly overshot the 4.0% increase reported in the 30 January flash estimate. In the full year 2012, the economy expanded 3.6%, below the solid 5.9% growth rate tallied in 2011. The deceleration in Q4 was the result of weaker domestic demand. Private consumption grew 3.2% over the same period the year before (Q3 2012: +3.3% year-on-year), while government consumption rose 0.9% (Q3: +0.8% yoy). Gross fixed investment, on the other hand, fell 7.7% (Q3: -3.9% yoy). Exports of goods and services accelerated from a 13.9% expansion in the third quarter to a 19.3% rise in the fourth. Simultaneously, imports rose 10.1% (Q3: +9.9% yoy). As a result, the external sector's net contribution to overall economic growth increased from 3.2 percentage points in the third quarter to 7.3 percentage points in the fourth. A quarter-on-quarter analysis corroborates the deceleration suggested by annual figures, as GDP expanded a seasonally and working-day adjusted 0.7% over the previous quarter, which was down from the 1.2% increase registered in the third quarter. According to its macroeconomic forecasts from February, the Central Bank expects GDP to grow 3.1% in 2013 and 3.8% in 2014. FocusEconomics Consensus Forecast panellists see the economy growing 3.1% this year, which is up 0.1 percentage points from last month's estimate. In 2014, the panel expects GDP to expand 3.4%.
GDP growth slows in the last quarter of 2012
February 28, 2013
Looking for forecasts related to GDP in Lithuania? Download a sample report now.
Lithuania GDP Chart
Note: Year-on-year changes of GDP in %.
Source: Statistics Lithuania and FocusEconomics Consensus Forecast.
Lithuania Economic News
October 10, 2016
Consumer prices in Lithuania rose 0.6% in September from the previous month, which contrasted the 0.5% drop in August.
September 21, 2016
In August, Lithuania’s industrial production rose 1.6% over the same month last year.
September 8, 2016
Consumer prices fell 0.5% over the previous month in August, which was slightly above July’s 0.7% drop.
August 30, 2016
GDP rose 1.9% in annual terms in Q2, according to detailed data released by the National Statistics Office on 30 August.
August 22, 2016
In July, Lithuania’s industrial production decreased 3.8% over the same month last year.