Lithuania’s gross domestic product (GDP) grew by 5.2% YoY in January-September, slightly exceeding earlier expectations of the country’s central bank.
According to data released by Statistics Lithuania, the country’s economic activity over the first three quarters of 2021 totaled 40.5 billion euros, up by 5.2%.
The economy got a positive boost from industrial production, wholesale and retail sectors, as well as good results in IT and communications industries, according to Statistics Lithuania.
Meanwhile, agricultural production has contracted in the third quarter of 2021.
The Bank of Lithuania expects the country’s economic growth to be 4.9% this year. Meanwhile, commercial banks have released more cautious estimates: SEB expects the GDP to grow 4.3%, Swedbank’s forecast is 4.2% and Luminor’s – 4.5%.
In 2020, Lithuania’s GDP contracted by 0.8%, according to Statistics Lithuania. (LRT/Business World Magazine)
