Lithuania Economy

Economic growth

The economy recorded average annual growth of 3.4% in the decade to 2022. To read more about GDP growth in Lithuania, go to our dedicated page.

Fiscal policy

Lithuania's fiscal deficit averaged 1.2% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment

The unemployment rate averaged 8.6% in the decade to 2022. For more information on Lithuania's unemployment click here.

Inflation

Inflation averaged 3.4% in the decade to 2022. Go to our Lithuania inflation page for extra insight.

Monetary Policy

Euro Area monetary policy rate ended 2022 at 2.50%, up from 0.75% a decade earlier. See our Lithuania monetary policy page for additional details.

Exchange Rate

From end-2012 to end-2022 the euro weakened by 18.2% vs the U.S. dollar. For more info on the euro, click here.

Slower rises in private spending plus declines in fixed investment and exports saw annual GDP growth halve between Q1 and Q2. Available data suggests the Baltic giant pressed on the gas in Q3. In July–August, a rise in manufacturing drove a jump in industrial output growth from Q2. Moreover, low inflation and healthier consumer confidence drove a faster increase in retail sales in the same two-month period, hinting at more upbeat private spending. On the external front, goods exports bounced back sharply in July–August from Q2, suggesting firmer external demand. In politics, parliamentary elections on 13 October resulted in the center-right Homeland Union, the far-right Nemunas Dawn and the Social Democrats all securing around 15–20% of the vote; the latter is likely to form a government, though much depends on the outcome of the district-level runoff vote on 27 October.

Projections out to 2034.

46 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 17 expert analysts.

Want to get insight on the economic outlook for Lithuania in the coming years? FocusEconomics collects projections out to 2034 on 46 economic indicators for Lithuania from a panel of 17 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Lithuania economy. To download a sample report on the Lithuania's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.