GDP reading: GDP growth ticked up to 3.1% year on year in the second quarter from 3.0% in the first...
Economic Growth in Lithuania
Lithuania's economy recorded an average growth rate of 3.2% in the decade to 2024, compared to the 0.8% average for Euro Area. In 2024, real GDP growth was 2.7%. For more GDP information, visit our dedicated page.
Lithuania GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Lithuania from 2024 to 2023.
Source: Macrobond.
Lithuania GDP Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Economic Growth (Real GDP, ann. var. %) | 0.0 | 6.4 | 2.5 | 0.4 | 2.7 |
| GDP (USD bn) | 57.3 | 67.0 | 70.9 | 79.8 | 84.8 |
| GDP (EUR bn) | 50.3 | 56.7 | 67.5 | 73.8 | 78.4 |
| Economic Growth (Nominal GDP, ann. var. %) | 2.1 | 12.8 | 19.0 | 9.4 | 6.2 |
GDP growth loses momentum in Q1
Slowing momentum confirmed: A second release confirmed that GDP growth slowed to 3.0% year on year in the first quarter of 2025 on a seasonally and calendar-adjusted basis, down from 3.9% in the fourth quarter of last year. Meanwhile, on a seasonally and calendar-adjusted quarter-on-quarter basis, the economy expanded 0.4% in Q1, falling short of the prior quarter’s 1.0% expansion.
Public and private spending decelerate: Domestically, household spending growth fell to 0.4% in Q1, marking the weakest expansion since Q3 2023 (Q4 2024: +4.7% yoy). Government consumption also lost steam and expanded 1.2% (Q4 2024: +1.4% yoy). Meanwhile, fixed investment growth improved to 6.9% in Q1, following the 0.7% increase logged in the prior quarter. On the external front, exports of goods and services growth fell to 0.3% in Q1, marking the worst reading since Q4 2023 (Q4 2024: +0.5% yoy). Moreover, imports of goods and services growth sped up to 7.0% in Q1 (Q4 2024: +4.3% yoy), marking the strongest reading since Q4 2022.
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 16 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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