Lithuania GDP Q1 2021

Lithuania

Lithuania: GDP rebounds in Q1, despite tighter lockdown measures

April 30, 2021

GDP rose 1.0% year-on-year in the first quarter of 2021, according to preliminary data. The result contrasted the 1.2% drop logged in Q4 2020 and marked the best reading in a year. Meanwhile, in seasonally-adjusted quarter-on-quarter terms, GDP growth rebounded to 1.8% in Q1, following the 0.3% contraction recorded in the previous quarter.



The first quarter’s increase in activity came despite the lingering impact of tighter restrictions imposed in late December to combat rising infections. The upturn was mainly driven by a strong performance in the industrial and retail sectors.



More detailed national accounts data for Q1 will be released on 1 June.

FocusEconomics analysts see the economy expanding 2.8% in 2021, which is down 0.1 percentage points from last month’s projection. In 2022, the economy is expected to grow 3.8%.


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Lithuania GDP Q1  2021

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


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