GDP in Lithuania
Lithuania - GDP
GDP grows at a slower, albeit healthy pace in Q3
According to a second national accounts estimate, GDP rose 4.8% year-on-year in the third quarter of 2021, softening from the 8.3% increase tallied in Q2 and matching the preliminary estimate. Meanwhile, in seasonally-adjusted quarter-on-quarter terms, growth flatlined in Q3 (Q2: +2.0% s.a. qoq).
The third quarter’s annual result was led by a broad-based slowdown, partly as the favorable base effect subsided. Private consumption (Q3: +6.3% yoy; Q2: +13.9% yoy), government spending (Q3: +0.8% yoy; Q2: +1.5% yoy) and fixed investment (Q3: +3.5% yoy; Q2: +22.4% yoy) all grew at softer, albeit still-healthy paces.
On the external front, although exports of goods and services also lost some momentum in Q3, they still registered double digit growth of 12.1% (Q2: +28.0% yoy). Similarly, import growth moderated to 16.0% annually in Q3, following a 35.1% surge in the previous quarter. Thus, the external sector subtracted 1.7 percentage points from the overall reading, easing from the prior quarter’s 3.0 percentage-point deduction
Looking ahead, GDP growth is expected to ease further in the final quarter of the year as the favorable base effect continues to subside and economic activity normalizes. A healthy inflow of EU funds should provide some support, although an ongoing surge in new Covid-19 cases, coupled with one of the lowest vaccination rates in Europe, threatens to inhibit the recovery.
FocusEconomics analysts see the economy growing 3.6% in 2022, which is down 0.2 percentage points from last month’s projection. In 2023, the economy is expected to grow 3.2%.
Lithuania - GDP Data
|Economic Growth (GDP, annual variation in %)||2.0||2.6||4.2||3.6||3.9|
5 years of economic forecasts for more than 30 economic indicators.
Lithuania GDP Chart
Source: Statistics Lithuania and FocusEconomics calculations.
|Bond Yield||0.43||0.0 %||Dec 30|
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December 1, 2021
According to a second national accounts estimate, GDP rose 4.8% year-on-year in the third quarter of 2021, softening from the 8.3% increase tallied in Q2 and matching the preliminary estimate.
November 23, 2021
Industrial output grew 20.5% in year-on-year terms in October, which was above September's 19.4% increase.
November 9, 2021
Consumer prices increased 1.66% over the previous month in October, picking up from the 1.41% increase seen in September and marking the highest result since January 2009.
October 29, 2021
GDP rose 4.8% year-on-year in the third quarter of 2021, according to preliminary data.
October 8, 2021
Consumer prices rose 1.41% over the previous month in September, accelerating from the 0.40% increase recorded in August.