The introduction of the euro and the management of the difficult geo-economic situation were arguably the major features of the Lithuanian economy in 2015. The successful reorientation of trade towards the West softened the negative demand shocks emanating from Russia. As household consumption increases, it will put the economy on a growth path leading from a GDP growth rate of 1.6% in 2015 to one of 3% over the years to come.
|Main Economic Indicators||2013||2014||2015||2016||2017||2018|
|Population, 1000 persons.||2958||2932||2905||.||.||.|
|GDP, real change in %||3.5||3.0||1.6||3.0||3.4||3.5|
|GDP per capita (EUR at PPP)||19600||20600||21700||.||.||.|
|Gross industrial production, real change in %||3.3||-0.1||4.9||.||.||.|
|Unemployment rate - LFS, in %, average||11.8||10.7||9.1||8.5||8.0||7.5|
|Average gross monthly wages, EUR||646||677||714||.||.||.|
|Consumer prices, % p.a.||1.2||0.2||-0.7||0.1||2.1||2.3|
|Fiscal balance in % of GDP||-2.6||-0.7||-0.2||.||.||.|
|Public debt in % of GDP||38.8||40.7||42.8||.||.||.|
|Current account in % of GDP||1.5||3.6||-1.7||-2.6||-3.0||-3.3|
|FDI inflow, EUR mn||531||270||562||.||.||.|
|Gross external debt in % of GDP||70.4||70.6||75.4||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
LITHUANIA: Successful reorientation
in: Growth Stabilises: Investment a Major Driver, Except in Countries Plagued by Recession
wiiw Forecast Report No. Spring 2016, March 2016 , pp. 94-97 Details and Buy
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