Analytics, Economics, GDP, Lithuania

International Internet Magazine. Baltic States news & analytics Thursday, 02.05.2024, 13:45

GDP of Lithuania decreased by 13.6% in Q1 y-o-y

Vilija Lapėnienė, Statistics Lithuania, 28.05.2009.Print version
Having received more detailed statistics on construction, transport, services, labour and prices, Statistics Lithuania has estimated gross domestic products (GDP) components for I quarter 2009 by production, expenditure and income approaches and revised the previously published first GDP estimate. Based on the revised data, in I quarter 2009, GDP at current prices made LTL 20652.5 million, and, against I quarter 2008, decreased by 13.6%. (The previously published first GDP estimate made LTL 20981.0 million, its decrease – 12.6%).

In I quarter 2009, negative results were recorded for all market activities. The most rapid decrease was observed for the value added of construction (by 37.3%), trade, transport and communication (by 20.9%) and industry and energy (by 13.5%) activities. A slower decrease was observed for the value added of financial intermediation, real estate and business (by 7.5%) and agriculture and fishing (by 1.3%) activities. 

 

An increase in the value added was recorded only for non-market services. The value added of public administration and defence, education, health and social work, and other community, social and personal service activities grew by 2.2%. 

 

In January–March 2009, against the same period in 2008, consumption expenditure considerably decreased. Final consumption expenditure of households and non-profit organisations decreased by, respectively, 15.1 and 14.2%. Final consumption expenditure of the general government was higher than in I quarter 2008; therefore, their real growth rate made up 2.2%. However, a significant decrease was observed for expenditure on capital formation: gross fixed capital formation dropped by 37.1%.  

 

A sharp decrease in consumption and capital formation conditioned a significant decrease in imports of goods and services (by 32.9%). Although exports also decreased (by 14.8%), the current account of the balance of payments for January–March 2009 was balanced.

 

Fig. 1. GDP growth rates, as compared to the corresponding period of the previous year


Changes in Gross domestic product

 

At current prices

Chain-linked volume

LTL million

EUR million

LTL million

Changes,%

Changes of seasonally and working day adjusted data,%

As compared to the previous period

As compared to the corresponding period of previous year

As compared to the previous period

As compared to the corresponding period of previous year

2006

82792.8

23978.5

71779.9

7.8

7.8

7.8

7.8

I

17335.3

5020.6

15969.6

-9.9

8.0

1.9

8.6

II

20250.7

5865.0

17625.9

10.4

8.7

1.7

8.3

III

22205.9

6431.3

19124.8

8.5

7.3

1.3

6.9

IV

23000.9

6661.5

19059.6

-0.3

7.5

2.5

7.7

2007◘

98138.7

28422.9

78186.0

8.9

8.9

8.9

8.9

I

20222.9

5857.0

17084.5

-10.4

7.0

2.2

8.0

II

24384.8

7062.3

19214.6

12.5

9.0

2.5

8.8

III

26195.1

7586.6

21141.5

10.0

10.5

2.3

9.8

IV

27335.9

7917.0

20745.4

-1.9

8.8

2.0

9.2

2008*

111498.7

32292.2

80544.6

3.0

3.0

3.0

3.0

I

24461.0

7084.4

18287.9

-11.8

7.0

0.2

7.0

II

28604.2

8284.4

20211.7

10.5

5.2

0.2

4.6

III

29854.6

8646.5

21765.0

7.7

2.9

-0.3

2.0

IV

28578.8

8277.0

20279.9

-6.8

-2.2

-1.4

-1.3

2009*

 

 

 

 

 

 

 

I¨

20652.5

5981.4

15796.6

-22.1

-13.6

-10.5

-11.8

 

Fig. 2. Changes in Gross domestic product

¨  Second estimate. * Provisional data. ◘ Non-final data.





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