Lithuania - Change in Inventories

Statistics Lithuania quarterly national account includes the following series GDP by expenditure, GDP per capita, GVA by industry, employment by industry, and compensation of employees. These are internationally recognised statistical indicators that provide insight to the development or standing of the national economy.

Active:

• National accounts framework: ESA 2010
• Activity classification: EVRK 2 red., the localization of NACE Rev. 2
• Measurements:
  • Millions of euros at chained year-2015 prices (Mil. Ch. 2015 EUR)
  • At current prices (Mil. EUR)
  • U.S. dollars (USD)
  • Thousands of persons (Ths. #)
  • Chained volume index relative to the previous period (Ch. vol. Index prv. per.=100)
  • Relative to the corresponding period of the previous year (Ch. vol. Index corr. per. prv. yr.=100)
• Adjustments:
  • Working day adjusted and seasonally adjusted (WDASA)
  • Not seasonally adjusted (NSA)
• Native frequency: Quarterly
• Start dates:
  • As early as 1903Q4
  • Most at 1995Q1

Predecessors:

• At 2010 prices - 1995 to 2019 ("_10")
• ESA 95 - 1995 to 2014 ("_E94")
• NACE Rev. 1.1 - 1995 to 2009 ("N11")

GDP being the main indicator that defines the level of economic development in the country. There are three approaches that are used for the estimation of GDP which include production, expenditure and income.

GDP by production: This includes GDP at market prices which is the sum of the value add of all the industries at basic prices which can be calculated by taking the difference between output and intermediate consumption, plus taxes and less subsidies. GVA or Gross Value Added is the value of output less the value of intermediate consumption. Taxes on products is the taxes payable per unit of goods or services produced or bartered and may be a specific amount of money per unit of quantity. Subsidies on products ay subsidies payable per unit of a good or service either produced or imported.

GDP by expenditure: GDP is the sum of final consumption expenditure of households, general government, and non-profit institutions serving households, gross capital formation, gross fixed capital formation, changes in inventories and acquisitions less disposals of valuables. All those plus exports, minus imports of good and services. Actual individual final consumption is comprised of goods and services for individual consumption. Collective final consumption is the services for collective consumption. Gross fixed capital formation is resident producers' acquisitions minus disposals for fixed assets in a time period plus the value of non-produced assets. Fixed assets are produced assets in production for more than 1 year. Inventories cover materials and supplies, work-in-progress, finished goods and goods for resale.

GDP by income approach: This is the total of all income earned in the process of producing goods and services plus taxes on production and imports less subsidies. Compensation of employees is the total remuneration in cash or all kinds, payable by an employer to an employee in exchange for work done. Compensation is made up of wages and salaries and employers' social contributions.

Usually revised.

Further reading

At the source:

• Official metadata (English, last certified Oct 2021)
• Official metadata (English, last certified Oct 2014)

At the IMF (SDDS):

• Real sector - National accounts