Lithuania - Real Gross Domestic Product





Lithuania: Real Gross Domestic Product

Mnemonic GDP$.ILTU
Unit Mil. Ch. EUR, WDASA
Adjustments Working Day Adjusted and Seasonally Adjusted
Quarterly 0.31 %
Data 2018 Q3 9,264
2018 Q2 9,292

Series Information

Source Statistics Lithuania
Release Quarterly National Accounts
Frequency Quarterly
Start Date 3/31/1995
End Date 9/30/2018

Lithuania: GDP

Reference Last Previous Units Frequency
Government Consumption 2018 Q4 1,861 1,850 Mil. EUR, WDASA Quarterly
Investment 2018 Q4 2,407 2,032 Mil. EUR, WDASA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2018 Q4 2,280 2,198 Mil. EUR, WDASA Quarterly
Nominal Gross Domestic Product 2018 Q4 11,710 11,360 Mil. EUR, WDASA Quarterly
Private Consumption 2018 Q4 7,193 7,083 Mil. EUR, WDASA Quarterly
Real Fixed Investment (gross fixed capital formation) 2018 Q3 1,928 1,906 Mil. Ch. EUR, WDASA Quarterly
Real Government Consumption 2018 Q3 1,414 1,415 Mil. Ch. EUR, WDASA Quarterly
Real Gross Domestic Product 2018 Q3 9,264 9,292 Mil. Ch. EUR, WDASA Quarterly
Real Investment 2018 Q3 1,674 1,616 Mil. Ch. EUR, WDASA Quarterly
Real Private Consumption 2018 Q3 6,247 6,080 Mil. Ch. EUR, WDASA Quarterly

Release Information

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.

The main indicators are presented in accordance with the European System of National and Regional Accounts (ESA2010). The industry classification are provided in EVRK 2 red. which is Lithuania's localization of NACE Rev. 2.

GDP being the main indicator that defines the level of economic development in the country. There are 3 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.

The units the data is presented in include current and constant prices in euros (EUR) and in volume terms. Employment is presented in number or persons.

Usually revised.

Further reading

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