Lithuania's GDP grew by 0.7% in the second quarter of this year.
In the second quarter of the year, the country's gross domestic product (GDP) reached €18.8 billion at current prices. Compared to the same period last year, real GDP changed positively by 0.7%, according to the State Data Agency.
Compared to the first quarter of the year, GDP in the expenditure-based approach showed a 0.3% increase in government final consumption expenditure in the second quarter of the year, while household final consumption expenditure and gross fixed capital formation declined by 1.8% and 5.3%, respectively. Foreign trade also contracted & exports and imports of goods and services fell by 1.8% and 2%, respectively.
In terms of manufacturing GDP, the performance of construction and industrial enterprises had the largest positive impact on the change in the second quarter of 2024.
The change in real GDP in the second quarter of this year compared to the first quarter (excluding seasonal and working day effects) was positive at 5.3%.
The change in real GDP in the second quarter of this year compared with the corresponding quarter of 2023, excluding the impact of the season and working days, was positive at 1.8%, while excluding the impact of the season and working days, the change was also positive at 1.3%.In the first half of 2024, GDP amounted to €35.9 billion at current prices. Compared to the first half of 2023, real GDP growth was positive at 2.1% after removing the seasonal and working day effects (2.4% without).
The previously announced 0.9% change in real GDP in the second quarter of 2024 compared with the first quarter of 2024, net of seasonal and working day effects, was positive.
