Lithuania’s GDP contraction in Q1 revised up to 13.6%

May 28, 2009 at 12:03 pm Leave a comment

As the BNS announced today Lithuania’s GDP contracted by 13.6 percent, year-on-year, to 20.653 billion litas (EUR 5.98 b) in the first three months of this year, the country’s Statistics Department reported on 28 May citing the results of the second GDP estimate.

Previously the department said that the country’s economy shrank by 12.6 percent in January-March.

Contraction was registered in all categories of business activities in the first quarter, the department said. The decline in added value was the most pronounced in the construction (37.3 pct), trade, transport and communication services (20.9 pct), industry and energy (13.5 pct) sectors.

Lower decrease was registered in financial mediation, real estate and other business services sector (7.5 pct), agriculture and fishery (1.3 pct).

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Entry filed under: Baltic States, Economics, Estonia, Latvia, Lithuania, Northern Europe.

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