Lithuania’s GDP grows 2.9% in Q3 y-o-y

Statistics Lithuania informs that based on more comprehensive business, tax and price statistics, in III quarter 2018, country’s gross domestic product (GDP) at current prices amounted to EUR 12.0 bn. Compared to II quarter 2018, the real GDP change1 was negative and stood at -0.3%, while compared to the respective quarter 2017, GDP increased by 2.9%. Seasonally and calendar unadjusted, GDP growth stood at 8.1 and 2.4% respectively.

As for GDP estimated by production approach, in III quarter 2018, the largest influence on the negative change1 was made by a decrease in value added generated in agriculture, forestry and fishing. The decreased value added in this activity was determined by the worse harvest of agricultural crops (estimated by the forecast of the Lithuanian Institute of Agrarian Economics). The largest positive influence on the change was made by an increase in value added generated in wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities and construction.

As for GDP estimated by expenditure approach, in III quarter 2018, seasonally and calendar adjusted, final household consumption expenditure increased by 2.7%, general government expenditure did not significantly change. Gross fixed capital formation increased by 1.1%, exports of goods and services decreased by 0.3%, while imports – 0.7%.

In three quarters 2018, GDP amounted to EUR 33.1 bn at current prices. Against three quarters 2017, real GDP change, seasonally and calendar adjusted, stood at 3.4% (unadjusted – 3.3%).

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