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International Internet Magazine. Baltic States news & analytics Monday, 11.12.2023, 04:32

Lithuania's GDP grows 3.8% in Q3 vs Q2

BC, Vilnius, 01.12.2020.Print version
Lithuania's economy expanded by a seasonally and calendar-adjusted 3.8% in the third quarter of 2020 compared to the second quarter to reach 13.2 billion euros, according to the second estimate of GDP released by the country's statistics office on December 1st, cites LETA/BNS.

GDP for January-September 2020 contracted by a seasonally and calendar-adjusted 1.3% year-on-year, Statistics Lithuania said. 

The preliminary estimate released in late October showed that the third-quarter GDP grew by a quarterly 3.7%. The annual rate of GDP contraction in the nine months was estimated at 1.4%.   

The quarterly GDP growth was mostly driven by growth in wholesale and retail trade, and manufacturing. 

Household final consumption expenditure increased by a quarterly 6.5%. Gross fixed capital formation (investment) grew by 8.2%. Exports of goods and services jumped by 1.4% and 16.7%, respectively.

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