Lithuania GDP Q3 2021


Lithuania: GDP growth moderates in Q3

October 29, 2021

GDP rose 4.8% year-on-year in the third quarter of 2021, according to preliminary data. The result followed the revised 8.3% increase logged in Q2, which had marked the best reading since Q4 2007. Moreover, in seasonally-adjusted quarter-on-quarter terms, GDP remained stable in Q3, falling from the 2.0% expansion logged in the previous quarter.

The third quarter’s year-on-year slowdown in activity came despite more moderate restrictions throughout the period, and was mainly driven by a weak performance in the agricultural sector.

More detailed national accounts data for Q3 will be released on 1 December.

Looking ahead, GDP growth is expected to ease further in the coming quarter as the favorable base effect subsides and economic activity normalizes. A healthy inflow of EU funds should provide some support, although an ongoing surge in new Covid-19 cases threatens to inhibit the recovery.

FocusEconomics analysts see the economy expanding 3.8% in 2022, which is down 0.1 percentage points from last month’s projection. In 2023, the economy is expected to grow 3.3%.

Author:, Junior Economist

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Lithuania GDP Chart

Lithuania GDP Q3  2021

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

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