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International Internet Magazine. Baltic States news & analytics Friday, 14.08.2020, 14:17

GDP in Lithuania declined by 5.1% in Q1

Inga Masiulaitytė-Šukevič, Statistics Lithuania, Vilnius, 30.07.2020.Print version
In II quarter 2020, country’s gross domestic product (GDP) amounted to EUR 11.5 billion at current prices. Compared to I quarter 2020, the real GDP change, seasonally and calendar adjusted, was negative and stood at −5.1 per cent.

As for GDP estimated by production approach, in II quarter 2020, the largest influence on the negative change in GDP was made by the results of enterprises engaged in wholesale and retail trade, transport and storage, accommodation and food service (−2.00 per cent), manufacturing (−1.01 per cent), professional, scientific, technical, administrative and support service (−0.95 per cent) activities.


  • In I quarter 2020, GDP amounted to EUR 22.5 billion at current prices. Compared to I quarter 2019, the real GDP change, seasonally and calendar adjusted, was negative and stood at −0.6 per cent (unadjusted −0.8 per cent).



 

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 the second GDP estimate for II quarter 2020 is due on 31 August 2020.

 

For more information, see the Predefined TablesDatabase of Indicators and description of preparation of quarterly national accounts.

 

Statistical information is produced and disseminated pursuant to the European Statistics Code of Practice.

 

For more terms, please see the Dictionary of Statistical Terms.


Definitions

Gross domestic product — gross value added generated by resident producers plus taxes minus subsidies on products and imports.

Real GDP — gDP value, price change adjusted.






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