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In 2015 the growth of the Lithuanian economy is suppressed by the slump in external demand both from the CIS countries and for oil products. Only part of the shortfall can be counterbalanced by exports to EU and Asian markets and also by growth in other product categories. Consumer demand develops at good pace and investment activity is alive. For 2015 we forecast a GDP growth rate of 2.5% and for 2016 and 2017 an upswing to 2.9% and 3.2%, respectively.
|Main Economic Indicators||2012||2013||2014||2015||2016||2017|
|Population, 1000 persons.||2988||2958||2928||.||.||.|
|GDP, real change in %||3.8||3.3||2.9||2.5||2.9||3.2|
|GDP per capita (EUR at PPP)||18500||19300||20300||.||.||.|
|Gross industrial production, real change in %||3.7||3.3||-0.1||.||.||.|
|Unemployment rate - LFS, in %, average||13.4||11.8||10.7||10.0||9.5||9.0|
|Average gross monthly wages, EUR||615||646||676||.||.||.|
|Consumer prices, % p.a.||3.2||1.2||0.2||0.3||1.2||1.8|
|Fiscal balance in % of GDP||-3.2||-2.6||-0.7||.||.||.|
|Public debt in % of GDP||39.8||38.8||40.8||.||.||.|
|Current account in % of GDP||-1.2||1.6||0.1||-0.8||-0.9||-1.0|
|FDI inflow, EUR mn||454||532||300||.||.||.|
|Gross external debt in % of GDP||77.8||69.8||69.9||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Monthly Report No. 7-8/2015
Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2015
25 pages including 1 Table and 2 Figures
LITHUANIA: Weathering the Russian slump
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 69-71 Details and Buy