Imports in Lithuania
Over the past decade until 2022, Lithuania registered an average growth rate of imports at 6.9%, which is above the Euro Area's average of 4.0%. In 2022, Lithuania's imports growth was 12.4%. For more imports information, visit our dedicated page.
Lithuania Imports Chart
Lithuania Imports Data
|Imports (G&S, ann. var. %)||6.1||6.3||-4.5||20.0||12.4|
Economy flatlines in the third quarter
According to a preliminary reading, GDP was flat on a seasonally adjusted year-on-year basis in the third quarter, below the 0.7% expansion logged in the second quarter. On a seasonally adjusted quarter-on-quarter basis, economic activity dropped 0.1% in Q3, contrasting the previous period's 2.4% increase. The quarterly moderation was driven by the manufacturing, wholesale and retail trade, and real estate sectors. A detailed breakdown will be released on 30 November.
Analysts at SEB commented on the outlook: “Due to a weaker economic outlook among major export partners, we have lowered our 2024 growth forecast […]. Household consumption will recover a bit next year and will be the main economic growth factor. [...] Inflation has fallen below average wage growth, and old-age pension increases should start to have a positive impact on consumption. The recovery will not be strong in the next few quarters, since the savings ratio will rise and high interest rates will squeeze consumption.”
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Lithuanian imports 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 imports forecast available for Lithuanian imports.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Lithuanian imports projections.
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