Lithuania’s gross domestic product in the first quarter of this year at current prices reached 17.1 billion euros, 0.8 percent higher than in the last quarter of 2023.
Year-on-year, GDP grew by 2.9 percent in the first quarter of 2023, according to the first estimate published on Tuesday by the State Data Agency.
The performance of manufacturing, wholesale and retail trade, and transport and storage companies had the largest positive impact on GDP in the first quarter of the year.
Nerijus Mačiulis, chief economist at Swedbank, says that such GDP growth can also be expected in the coming quarters.
“It seems that if there are no major negative surprises, no external shocks, such growth should continue in the remaining quarters of this year,” Mačiulis told BNS on Tuesday. “This is not an unexpected indicator, given that we have already seen a rapid recovery in industry and retail trade in recent months.”
The second estimate of GDP for the first quarter of this year will be published by the State Data Agency on May 31.
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