Lithuania GDP Q1 2021


Lithuania: Economic growth moderates at the outset of the year

April 29, 2022

GDP rose 4.4% year-on-year in the first quarter of 2021, according to preliminary data. The result followed the 5.2% increase logged in the prior quarter. Meanwhile, in seasonally-adjusted quarter-on-quarter terms, GDP lost some momentum in Q1, rising 0.9% versus the 1.7% rise logged in Q4.

The first quarter’s year-on-year slowdown was mainly driven by weak performances in the industrial, wholesale and retail trade sectors.

More detailed national accounts data for Q4 will be released on 31 May.

FocusEconomics analysts see the economy expanding 3.4% in 2022, which is down 0.1 percentage points from last month’s projection. In 2023, the economy is expected to grow 3.2%.

Author:, Junior Economist

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