Business in Lithuania (edition 2020)

Business generated GDP in the national economy

 

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The chapter presents the aggregates on gross domestic product (GDP) and components thereof as well as provisional information for 2019.

Each year, the time series of the GDP aggregates are revised based on information of the latest or revised data sources, and the provisional indicators of national accounts of the previous year are estimated.

In 2019, GDP at current prices amounted to EUR 48.8 billion. Compared to 2018, the real GDP change stood at 4.3 per cent. The revised 2018 GDP amounted to EUR 45.5 billion; compared to the previous period, it grew by 3.9 per cent.

As for GDP estimated by production approach, a rapid growth was observed in value added generated by enterprises engaged in construction (9.8 per cent in 2018 and 7.5 per cent in 2019), transport and storage (6.9 and 9.8 per cent respectively), information and communication (7.9 and 7.8 per cent respectively), and administrative and support service activities (9.9 and 7.5 per cent respectively). A steady growth was also recorded in manufacturing (3.9 per cent in 2018 and 4 per cent in 2019) as well as wholesale and retail trade (4.2 per cent in 2018 and 2.9 per cent in 2019) sectors having the highest relative weight in terms of generation of value added.

As for GDP estimated by expenditure approach, the fastest growth in 2018–2019 was observed for gross fixed capital formation (10 and 6.2 per cent respectively), exports (6.8 and 9.5 per cent respectively) and imports (6 and 6.3 per cent respectively) of goods and services, while moderate growth was recorded for household final consumption expenditure (3.8 and 3.3 per cent respectively).

As estimated by income approach, the fastest growth was recorded for compensation of employees: in 2018–2019, it grew by 9.8 per cent and 10.8 per cent (at current prices). Taxes on production and products increased by 6.8 and 7.5 per cent respectively.


GDP in the whole economy, 2010–2019
At constant prices (chain-linking method) 

EUR million

The latest and detailed data are available in the Database of Indicators

 

Real GDP change, 2010–2019
Compare to the previous period

Per cent

The latest and detailed data are available in the Database of Indicators

 

GDP per capita, 2010–2019
At current prices

EUR

The latest and detailed data are available in the Database of Indicators

For further terms, see the Dictionary of Statistical Terms.