The economy of Lithuania expanded by 1.2% quarter-on-quarter in the third quarter of 2024, slightly above preliminary estimates of 1.1% gain and notably accelerating from a 0.3% rise in the previous three-month period. From the production approach, the largest positive contributions came from manufacturing (3.2% vs 1.5% in Q2) and wholesale and retail trade (2.1% vs 0.5%). On the expenditure side, household consumptions rebounded (1.3% vs -0.9%), as well as gross fixed capital formation (2.6% vs -1.8%). However, government spending tumbled (-0.2% vs 0.4%). On net external demand, both exports of goods and services (-3.9% vs 1.5%) and imports of goods and services (-4% vs 0.9%) slipped. On a yearly basis, the GDP climbed by 2.4% in the third quarter from a 1.7% rise in the previous three-month period, and compared to preliminary estimates of 2.3% gain. source: Statistics Lithuania

The Gross Domestic Product (GDP) in Lithuania expanded 1.20 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Lithuania averaged 0.97 percent from 1995 until 2024, reaching an all time high of 6.10 percent in the third quarter of 2020 and a record low of -12.90 percent in the first quarter of 2009. This page provides - Lithuania GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Lithuania GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.

The Gross Domestic Product (GDP) in Lithuania expanded 1.20 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Lithuania is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Lithuania GDP Growth Rate is projected to trend around 0.70 percent in 2025 and 0.80 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-30 07:00 AM QoQ Flash Q3 1.1% 0.3% 0.5%
2024-12-02 07:00 AM QoQ 2nd Est Q3 1.2% 0.3% 1.1% 1.1%
2025-01-30 07:00 AM QoQ Flash Q4 1.2% 0.8%


Related Last Previous Unit Reference
Full Year GDP Growth -0.30 4.80 percent Dec 2023
GDP Growth Rate YoY 2.40 1.70 percent Sep 2024
GDP Constant Prices 16200.20 14839.90 EUR Million Sep 2024
GDP Growth Rate 1.20 0.30 percent Sep 2024
Gross Fixed Capital Formation 3819.40 3409.90 EUR Million Sep 2024
Gross National Product 70213.30 65045.90 EUR Million Dec 2023

Lithuania GDP Growth Rate
In 2015, Lithuania became the 19th member of Euro Area. Lithuania’s service sector constitutes the largest share of GDP with information and communication technologies being the fastest growing. Also, in recent years Lithuania has shifted towards a knowledge-based economy: several companies produce sophisticated biotech products like pharmaceutical substances, components for molecular diagnostics and laser equipment. On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by gross fixed capital formation (19 percent) and government expenditure (17 percent). Exports of goods and services account for 81 percent while imports account for 79 percent, adding 2 percent of total GDP. On a production side, the wholesale and retail trade, transport, accommodation and food service activities sector is the most important and accounts for around 32 percent to total GDP. It follows by industry (23 percent of total GDP); manufacturing (19 percent); public administration, defence, education, human health and social work activities (14 percent); construction (7 percent); real estate activities (6 percent); professional, scientific and technical activities and administrative and support services (6 percent); information and communication (3 percent); agriculture (4 percent); financial and insurance (2 percent); and arts, entertainment and recreation, repair of household goods and other services (2 percent).
Actual Previous Highest Lowest Dates Unit Frequency
1.20 0.30 6.10 -12.90 1995 - 2024 percent Quarterly
SA


News Stream
Lithuania Q3 GDP Revised Slightly Higher
The economy of Lithuania expanded by 1.2% quarter-on-quarter in the third quarter of 2024, slightly above preliminary estimates of 1.1% gain and notably accelerating from a 0.3% rise in the previous three-month period. From the production approach, the largest positive contributions came from manufacturing (3.2% vs 1.5% in Q2) and wholesale and retail trade (2.1% vs 0.5%). On the expenditure side, household consumptions rebounded (1.3% vs -0.9%), as well as gross fixed capital formation (2.6% vs -1.8%). However, government spending tumbled (-0.2% vs 0.4%). On net external demand, both exports of goods and services (-3.9% vs 1.5%) and imports of goods and services (-4% vs 0.9%) slipped. On a yearly basis, the GDP climbed by 2.4% in the third quarter from a 1.7% rise in the previous three-month period, and compared to preliminary estimates of 2.3% gain.
2024-12-02
Lithuania GDP Grows 1.1% QoQ in Q3
The economy of Lithuania expanded by 1.1% quarter-on-quarter in the third quarter of 2024, accelerating from a downwardly revised 0.3% gain in the previous three-month period, preliminary estimates showed. This marked third consecutive quarter of growth and the strongest in the sequence, mainly driven by the positive performance of enterprises engaged in manufacturing, wholesale and retail trade and information and communication activities. On a year basis, the country's GDP climbed 2.3% in Q3 of 2024, from a downwardly revised 1.7% rise in the previous month.
2024-10-30
Lithuania Q2 GDP Revised Lower
The economy of Lithuania advanced by 0.7% quarter-on-quarter in the three months to June 2024, below preliminary estimates and an upwardly revised 0.9% in the previous quarter. From the production approach, the largest positive contributions came from construction (3.2% vs -5.8% in Q1) and information & communication (0.8% vs -0.2%). On the expenditure side, government spending increased (0.8% vs -0.1%), while gross fixed capital formation declined less (-5.3% vs -6.5%). Meanwhile, net external demand also made a negative impact to the GDP, as exports (-1.8% vs 3.3%)) and imports (-2% vs 0.3%) dropped. Additionally, household consumption decreased further (-1.8% vs 2.8%). On a yearly basis, the GDP grew by 1.8% in the second quarter, falling short of initial estimates of 1.9% and down from a 3% rise in the preceding quarter.
2024-08-30