Economic Growth in Lithuania
The Lithuanian economy recorded average real GDP growth of 3.3% in the decade to 2022, above the Euro Area's 1.4% average. In 2022, real GDP growth was 2.5%. For more GDP information, visit our dedicated page.
Lithuania GDP Chart
Lithuania GDP Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Economic Growth (GDP, ann. var. %) | 4.0 | 4.6 | 0.1 | 6.2 | 2.4 |
GDP (USD bn) | 53.7 | 54.8 | 56.9 | 66.8 | 70.8 |
GDP (EUR bn) | 45.5 | 49.0 | 49.9 | 56.5 | 67.4 |
Economic Growth (Nominal GDP, ann. var. %) | 7.8 | 7.5 | 1.7 | 13.4 | 19.4 |
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.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Lithuanian GDP projections for the next ten years from a panel of 15 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 GDP forecast available for Lithuanian GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Lithuanian GDP projections.
Want to get access to the full dataset of Lithuanian GDP forecasts? Send an email to info@focus-economics.com.
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