Exports in Lithuania
Lithuania's economy recorded an average growth rate of 2.1% in exports over the decade leading to 2024, above the Euro Area's average of 1.0%. In 2024, Lithuania's exports growth was 2.1%. For more exports information, visit our dedicated page.
Lithuania Exports Chart
Note: This chart displays Exports (G&S, ann. var. %) for Lithuania from 2014 to 2024.
Source: Macrobond.
Lithuania Exports Data
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Exports (G&S, ann. var. %) | 0.0 | 16.6 | 12.4 | -3.4 | 2.1 |
Economic growth remains resilient in Q2
GDP growth slows but remains among Euro area’s fastest: The economy grew 3.1% year on year in the second quarter, down marginally from the first quarter’s 3.2% rise. Still, the expansion was among the fastest in the Euro area and the strongest among the Baltic states. On a seasonally and calendar-adjusted quarter-on-quarter basis, economic growth waned to 0.3% in Q2, compared to the previous period's 0.6% expansion.
Growth in public spending and exports cool: Domestically, government consumption—representing almost a fifth of GDP—expanded 1.0% year on year in Q2, marking a six-quarter low (Q1: +2.0% yoy). Meanwhile, household spending increased 3.1% annually in the second quarter, which was above the first quarter's 0.5% rise. Moreover, annual fixed investment growth was the highest since Q4 2023 at 9.1% in Q2 (Q1: +7.6% yoy). On the external front, exports of goods and services growth moderated to 2.2% year on year in Q2 (Q1: +4.1% yoy). In addition, imports of goods and services growth waned to 3.4% in Q2 (Q1: +10.3% yoy).
Panelist insight: EIU analysts said: “Real GDP growth is likely to remain strong for a second consecutive year in 2025 […]. There are several factors supporting private consumption, including ECB interest-rate cuts; continued strong real wage growth; and the integration of Ukrainian, Belarusian and Russian workers into the labour force. Household spending was weak in January-March, most likely because of the hit to sentiment from US trade policy, but we expect it to return to growth in the remainder of the year. Government consumption growth will continue as more funding is shifted to the defence sector to bolster the country's protections against Russia. ECB rate cuts and equipping the defence sector will help to underpin investment growth.”
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Lithuanian exports projections for the next ten years from a panel of 8 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 exports forecast available for Lithuanian exports.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Lithuanian exports projections.
Want to get access to the full dataset of Lithuanian exports forecasts? Send an email to info@focus-economics.com.
Latest Global GDP News
-
United Kingdom: Economy stagnates in July GDP reading: GDP flatlined on a seasonally adjusted month-on-month basis in July, following a 0.4% increase in the prior month... -
Ghana: Economic growth unchanged in Q2 GDP growth stable: GDP growth was unchanged year on year in the second quarter, matching Q1’s upwardly revised 6.3% figure... -
South Africa: Economic growth picks up in the second quarter GDP growth improves, as expected: As anticipated by our Consensus, the economy strengthened at a faster clip in the second... -
Brazil: Economic growth taps on the brakes in Q2 Near 20-year high interest rates take a toll on GDP growth: As projected by our Consensus, sequential GDP growth lost... -
Hungary: GDP ticks up in the second quarter Economy remains subdued: According to a second release, annual GDP growth edged up to 0.1% in the second quarter, above... -
Lithuania: Economic growth remains resilient in Q2 Growth slows but remains among Euro area’s fastest: The economy grew 3.1% year on year in the second quarter, down... -
Canada: Economy records sharpest contraction since Q2 2020 in Q2 GDP reading: GDP contracted 1.6% in seasonally adjusted annualized rate terms (SAAR) in the second quarter, contrasting the 2.0% expansion...