Skyline in Lithuania

Lithuania GDP

Lithuania GDP

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

Note: This chart displays Economic Growth (GDP, annual variation in %) for Lithuania from 2014 to 2023.
Source: Statistics Lithuania.

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 70.9
GDP (EUR bn) 45.5 49.0 49.9 56.5 67.4
Economic Growth (Nominal GDP, ann. var. %) 7.7 7.6 1.8 13.4 19.5

GDP growth accelerates notably in Q1

A flash release showed that GDP grew by 2.9% year on year in Q1 in calendar- and seasonally adjusted terms, marking the highest reading since Q1 2022 and contrasting the 0.1% rise recorded in Q4 2023. On a seasonally adjusted quarter-on-quarter basis, economic activity rebounded to 0.8% in Q1, following the previous period's 0.2% decline.

Absent a full breakdown, early data points to improvements in the manufacturing, wholesale and retail trade, and transportation and storage sectors as the key drivers to growth. A second data release will be available on 31 May.

Analysts at the EIU commented on the outlook: “We forecast that real GDP will post moderate growth of 1.8% in 2024. Although consumer confidence is strengthening after wage growth turned positive, household spending will remain weak, weighing on headline growth in 2024. Accommodative fiscal policy, rising public-sector wages and improving external conditions will support growth later in 2024.”

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 GDP projections for the next ten years from a panel of 18 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.

Latest Global GDP News

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest