Lithuanian GDP still robust

  • 2005-12-14
  • From wire reports
VILNIUS - GDP grew 6.9 percent in the first nine months of 2005, reaching 51.4 billion litas (14.9 billion euros), the Statistics Department said.
In the third quarter, the economy expanded 7.6 percent year-on-year to 19 billion litas, according to the department's second GDP estimate for the period. The latest GDP growth figures are unchanged from the previous estimate in late October.

All key sectors of the economy, with the exception of agriculture and mining and quarrying, contributed to the GDP growth in the third quarter, the Statistics Department said.

The strongest growth was recorded in the following sectors: financial intermediation (12.5 percent), construction (12 percent), wholesale and retail trade (11.6), hotels and restaurants (11.1), transport and communications (10.9), electricity, gas and water supply (9.8) and manufacturing (7.6).

Financial analysts said growth was driven by strong domestic demand, while exports were restrained by difficulties in the eurozone.

GDP per capita in January-September was 15,000 litas, up 7.2 percent compared with the same period in 2004. In July-September, it grew by 8 percent year-on-year to 5,600 litas.

The country's GDP grew by 4.4 percent in the first quarter of this year and expanded by 8.4 percent in the second quarter. On a seasonally adjusted basis, the average quarterly GDP growth rate was 1.9 percent.