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Lithuania Private consumption

Lithuania Private consumption

Private Consumption in Lithuania

The Lithuanian economy recorded an average growth rate of 3.3% in private consumption in the decade up to 2022, well above the Euro Area average of 1.0%. In 2022, private consumption growth was 2.0%. For more private consumption information, visit our dedicated page.

Lithuania Private consumption Chart

Note: This chart displays Private Consumption (annual variation in %) for Lithuania from 2014 to 2023.
Source: Statistics Lithuania.

Lithuania Private consumption Data

2018 2019 2020 2021 2022
Private Consumption (ann. var. %) 3.8 2.7 -3.1 7.9 2.0

Economic growth ticks up in Q4

Economic growth picked up slightly in the fourth quarter, with GDP expanding 0.3% on an annual basis (Q3: +0.1% year on year). On a seasonally adjusted quarter-on-quarter basis, economic activity shrank by 0.3%, weakening from Q3’s flat reading.

Absent a detailed breakdown, Q4’s improvement was likely supported by private spending: Inflation cooled sharply in the quarter and consumer confidence rebounded in Q4 compared to Q3, underpinning stable retail sales in October–November. That said, still-elevated interest rates likely restrained investment, while goods exports data up to November points to persistent headwinds to external demand in the quarter.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Lithuanian private consumption projections for the next ten years from a panel of 11 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. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable private consumption forecast available for Lithuanian private consumption.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Lithuanian private consumption projections.

Want to get access to the full dataset of Lithuanian private consumption forecasts? Send an email to info@focus-economics.com.

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