Flash comment: Lithuania - April 30, 2021
Lithuania leaves the recession behind

  • Economy expands 1% annually in Q1
  • Manufacturing and retail trade push economy forward

 

Lithuanian economy spent almost the whole quarter under tight quarantine restrictions and yet managed to grow, defying expectations. Solid performance in both retail trade and especially manufacturing has helped push the economy beyond pre-pandemic levels.

First quarter performance sets Lithuania up for solid growth this year. We expect GDP to grow 3% this year and 4.9% in 2022. Although given the remarkable resilience, expansion could be even more rapid. 

Key risks are still related to the pandemic management, although progress on the vaccination front gives hope that we are on a path to sustained recovery.

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For more information please contact

Vytenis Šimkus Vytenis.simkus@swedbank.lt +370 687 17870

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