Lithuania

In 2017, economic growth in Lithuania is being driven by a resurgence in external demand, particularly from the CIS, and also for oil products. Moreover, strong growth in investment is underpinned by fresh funds from the EU and by private housing construction. The ongoing decline in unemployment and rapid wage increases have resulted in steady, strong growth in consumer demand. For 2017, we forecast a greater upswing in the GDP growth rate to 3.8%, followed by 3.4% in 2018 and 2.8% in 2019.

map Lithuania
        FORECAST*
Main Economic Indicators201420152016201720182019
Population, 1000 persons293229052868...
GDP, real change in %3.52.02.33.83.52.8
GDP per capita (EUR at PPP)207002160021900...
Gross industrial production, real change in %0.14.92.8...
Unemployment rate - LFS, in %, average10.79.17.97.26.56.0
Average gross monthly wages, EUR677714774...
Consumer prices, % p.a.0.2-0.70.73.53.02.7
Fiscal balance in % of GDP-0.6-0.20.3...
Public debt in % of GDP40.542.640.1...
Current account in % of GDP3.2-2.8-1.1-1.4-2.0-2.4
FDI inflow, EUR mn387873870...
Gross external debt in % of GDP69.975.785.6...


Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.

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LITHUANIA: Upswing in the investment cycle and foreign demand

Sebastian Leitner
in: CESEE Back on Track to Convergence
wiiw Forecast Report No. Autumn 2017, November 2017 , pp. 89-92
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Monthly Report No. 7-8/2017

Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Richard Grieveson, Doris Hanzl-Weiss, Peter Havlik, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2017
27 pages including 1 Table and 2 Figures

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