Lithuania GDP Q3 2022

Lithuania

Lithuania: Economy edges up in Q3

October 31, 2022

According to a preliminary estimate, GDP growth ticked up to 1.8% year on year in the third quarter, from 1.7% in the second quarter. On a seasonally adjusted quarter-on-quarter basis, economic growth accelerated marginally in Q3, to 0.4%, following the previous period's 0.3% increase. A comprehensive Q3 GDP data breakdown will be released on 30 November.

Looking ahead, GDP growth is forecast to wane in the coming quarters. Elevated energy prices are set to crunch household budgets, while tighter monetary conditions will be likely hampering growth in private-sector activity. In addition, an EU-wide slowdown is likely to further weigh on trade, exacerbating the losses logged from the sanctions against Russia and Belarus.

FocusEconomics panelists see GDP expanding 0.7% in 2023, which is down 0.6 percentage points from last month’s forecast, and 2.8% in 2024.


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Lithuania GDP Q3  2022 0

Note: Year-on year and quarter-on-quarter changes of GDP in %.
Source: Statistics Lithuania and FocusEconomics Consensus Forecast.


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