Analytics, GDP, Lithuania, Statistics

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 09:07

Lithuania's GDP grows 2.7%in Q3 y-o-y

Gailutė Juškienė, Head, National Accounts Division, 31.10.2018.Print version
Statistics Lithuania informs that in III quarter 2018, country’s gross domestic product (GDP), estimated based on available statistical data and econometric models, amounted to EUR 12.0 bln at current prices. Compared to II quarter 2018, the real GDP change, seasonally and calendar adjusted, stood at –0.4%.

In III quarter 2018, the negative GDP change was influenced 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 forecast1). The 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.


In three quarters 2018, GDP amounted to EUR 33.1 bln at current prices. Against three quarters 2017, real GDP, seasonally and calendar adjusted, stood at 3.4% (unadjusted – 3.2%).


Fig.1. Real changes in gross domestic product2
Compared to the previous period



Fig. 2. Real changes in gross domestic product



Statistics Lithuania, based on more detailed data and having estimated the value added by a more detailed list of economic activities, revised GDP estimate for II quarter 2018. In II quarter 2018, GDP stood at EUR 11.2 bln at current prices. 


According to the revised data, compared to I quarter 2018, the II quarter real GDP change, seasonally and calendar adjusted, stood at 0.9 % (previously published – 0.9%). Compared to the respective quarter 2017, real GDP change, seasonally and calendar adjusted, stood at 3.8 % (previously published – 3.8%).


Gross domestic product and its changes

 

At current prices, EUR million

GDP changes, price change adjusted, per cent

against the previous period

against the respective period of the previous year

seasonally and calendar adjusted

against the previous period

against the respective period of the previous year

2014

36 568.3

3.5

3.5

3.5

3.5

I

8 186.4

–8.7

4.5

1.2

4.4

II

9 206.2

8.4

4.2

0.7

4.2

III

9 895.7

9.6

3.1

0.3

3.2

IV

9 279.9

–5.5

2.4

0.2

2.4

2015

37 433.9

2.0

2.0

2.0

2.0

I

8 232.2

–9.5

1.6

0.5

1.7

II

9 386.9

8.6

1.8

0.9

1.9

III

10 151.2

10.1

2.2

0.7

2.3

IV

9 663.7

–5.3

2.5

0.1

2.2

2016

38 849.4

2.4

2.4

2.4

2.4

I

8 559.9

–9.8

2.1

0.3

2.0

II

9 730.8

8.0

1.6

0.7

1.8

III

10 456.0

10.4

1.9

1.1

2.2

IV

10 102.7

–3.5

3.8

1.4

3.5

2017*

42 190.8

4.1

4.1

4.1

4.1

I*

9 357.6

–9.1

4.6

1.1

4.4

II*

10 470.4

7.9

4.5

0.8

4.5

III*

11 328.0

9.6

3.7

0.6

3.9

IV*

11 034.8

–3.4

3.8

1.3

3.8

2018♦

 

 

 

 

 

I*

9 929.9

–9.2

3.7

1.0

3.7

II*

11 203.8

8.0

3.8

0.9

3.8

III

11 987.7

7.9

2.2

–0.4

2.7

 First estimate.    * Provisional data.    ◘ Non-final data.


Real GDP changes have been estimated using a chain-linking method which enables the elimination of the influence of price changes.

 

Values of and changes in GDP and its components depend on the different seasons of the year; therefore, changes used for the comparison of GDP and its components for different periods are seasonally and calendar adjusted.

 

A news release on more detailed GDP estimate for III quarter 2018 is due on 30 November 2018.

 

 






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