Lithuania in the News
3rd April 2011
Lithuanian Economy Among the Fastest Growing in Europe
A modern business centre in Vilnius
According to the figures recently released on 3rd March by the statistical office of the European Union (Eurostat), Lithuania’s GDP growth rate was a remarkable 1.8% in the fourth quarter (Q4) of 2010, making it the second highest in the EU. The yearly growth reached 4.6%, the 4th highest in the EU. By comparison, during 4Q 2010 in the euro area (EA-16) the GDP increased by 0.3% and by 0.2% in the EU-27, with corresponding yearly growths 2.0% and 2.1% respectively.
Lithuania’s Ministry of Finance now predicts the Lithuanian GDP to grow by 5.8% this year and by 4.7% in 2012. Its forecast of last September had predicted growths of only 2.8 % and 1.2 %, respectively. This shows that the Lithuanian economy now is well and truly on the recovery path after the world financial crisis.
In spite of the financial crisis, the decade 2000 - 2010 saw Lithuania’s economy grow by an average of 5.3 % per year, the highest growth among the Baltic Sates (c.f. Estonia – 4.6% and Latvia – 4.3%). The financial crisis saw the GDP drop by 12.4% in 2008 – 2009, but this was compensated by the very strong growth averaging 7.5% in the preceding years.

Further information: 17/02/11 – 28/03/11