Metinė prenumerata tik 6,99 Eur. Juodai geras pasiūlymas
Išbandyti
2013 01 30

Lithuania's GDP grows 3.6 percent in 2012

Lithuania's gross domestic product grew 3.6 percent last year, to reach 112.411 billion litas (EUR 32.6b) at current prices, according to the first estimate released by the country's statistics office on Wednesday.
Lietuvos BVP vienam gyventojui siekia 66 proc. ES vidurkio
. / Tomo Urbelionio/BFL nuotr.

Statistics Lithuania estimates that the economy expanded by 4 percent in the fourth quarter of 2012 year-on-year to 28.631 billion litas.

All groups of economic activities, except construction, recorded positive changes in added value.

GDP per capita rose by 4.8 percent last year, compared with 2011, to reach 37,551 litas.

On a seasonally and workday-adjusted basis, Lithuania's GDP grew by 3.4 percent in the full year 2012 and by 1 percent in the fourth quarter year-on-year.

The economy contracted by 4.3 percent in the fourth quarter compared with the third quarter.

Statistics Lithuania also released revised data showing that the country's GDP in the third quarter of 2012 grew by 4.4 percent year-on-year to 30.01 million litas. The previous estimate was that the economy expanded by 4.4 percent to 30.076 billion litas.

Engine of growth, agriculture

Lithuania's GDP growth last year was driven by strong performance in agricultural production and exports, the director of the country's statistics office says.

"GDP growth was due to a marked increase in agricultural production, as well as growth in export-oriented industries. Lithuanian companies have a foothold in foreign markets," Vilija Lapėnienė said at a news conference.

The domestic market showed slight growth as well, she said.

Lapėnienė said that GDP growth was achieved thanks to growing labor productivity, which rose by 8.5 percent, while real wages rose by 1.1 percent.

"Companies improved their operating efficiency," she said.

The director said that last year's GDP was still below the 2007 level, but the gap narrowed to 0.2 percent.

Noting that the number of people who left Lithuania fell by 20 percent last year, she said that if the emigration trends do not worsen, growth should continue.

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