Statistics (pre-defined tables) » Economy and finance (macroeconomics) » GDP, efficiency, employment
Second GDP estimate
2008 05 29
Gross domestic product second estimate
Revised I Q GDP growth amounted to 6.9 per cent
Statistics Lithuania estimated GDP components for I quarter 2008 by production, expenditure, and income approaches, and revised the first GDP estimate. According to the revised data, in I quarter 2008, GDP totalled LTL 23979.2 million at current prices and as compared to I quarter 2007 grew by 6.9 per cent. The previously published first GDP estimate made LTL 23801.6 million; its growth rate reached 6.4 per cent. The largest impact on the revised estimate was made by the obtained positive statistics on construction and services.
The most rapid growth of value added in I quarter 2008 was observed in construction (12.3 per cent), trade, hotels and restaurants, transport and communication (9.6 per cent) and financial intermediation, real estate and other business services (7.5 per cent) groups. The growth rate of value added in industrial and energy enterprises (5.6 per cent) and non-market services (3.5 per cent) was slower. The slowest growth of value added was observed in agriculture (0.3 per cent).
In January–March 2008, consumption expenditure was further growing rapidly, whereas nominal compensation to employees grew by 20.2 per cent. Final consumption expenditure and gross fixed capital formation growth rates in the first months of 2008 were similar and made up, respectively, 10.5 and 10.7 per cent. The growth rate of household final consumption expenditure (12.2 per cent) was more rapid than that of general government consumption expenditure (4.1 per cent). Growing consumption stimulated an increase in imports. Imports of goods and services over I quarter 2008 increased by 14.5 per cent. Exports of goods and services were growing at a slower pace – by 8.5 per cent.
Diagram 1. Growth rates of gross domestic product
As compared to the corresponding period of the previous year
Changes in gross domestic product
|
|
At current prices |
Chain-linked volume |
Changes of seasonally and working days adjusted data, % | ||||
|
LTL mill. |
EUR mill. |
LTL mill. |
Changes, % | ||||
|
a) |
b) |
c) |
d) | ||||
|
2005 |
71380 |
20673 |
66550 |
7.9 |
7.9 |
7.9 |
7.9 |
|
I |
14735 |
4268 |
14699 |
-8.9 |
5.6 |
1.8 |
6.7 |
|
II |
17609 |
5100 |
16165 |
10.0 |
7.4 |
2.0 |
7.1 |
|
III |
19143 |
5544 |
17988 |
11.3 |
8.8 |
2.8 |
9.2 |
|
IV |
19894 |
5762 |
17697 |
-1.6 |
9.6 |
1.8 |
8.7 |
|
2006◘ |
81905 |
23721 |
71649 |
7.7 |
7.7 |
7.7 |
7.7 |
|
I |
16933 |
4904 |
15905 |
-10.1 |
8.2 |
1.4 |
8.2 |
|
II |
20080 |
5815 |
17629 |
10.8 |
9.1 |
2.3 |
8.6 |
|
III |
22103 |
6402 |
19116 |
8.4 |
6.3 |
0.6 |
6.3 |
|
IV |
22789 |
6600 |
19000 |
-0.6 |
7.4 |
3.1 |
7.6 |
|
2007* |
96740 |
28018 |
77939 |
8.8 |
8.8 |
8.8 |
8.8 |
|
I |
19788 |
5731 |
17190 |
-9.5 |
8.1 |
1.9 |
8.1 |
|
II |
23685 |
6860 |
19046 |
10.8 |
8.0 |
2.2 |
8.0 |
|
III |
26042 |
7542 |
21184 |
11.2 |
10.8 |
2.9 |
10.4 |
|
IV |
27224 |
7885 |
20518 |
-3.1 |
8.0 |
1.3 |
8.5 |
|
2008* |
|
|
|
|
|
|
|
|
I¨ |
23979 |
6945 |
18371 |
-10.5 |
6.9 |
0.2 |
6.7 |
Diagram 2. Changes in gross domestic product
¨ Second estimate. * Provisional data. ◘ Non-final data.
a) As compared to the previous period. b) As compared to the corresponding period of the previous year.
c) As compared to the previous period, seasonally and working days adjusted. d) As compared to the corresponding period of the previous year, seasonally and working days adjusted.
Acting Director General Jonas Markelevicius
Contact: Bronislava Kaminskiene
Head, Methodology and Quality Division
Tel. (+370 5) 236 4614
E-mail bronislava.kaminskiene@stat.gov.lt
Irena Tvarijonaviciute
Head, National Accounts Division
Tel. (+370 5) 236 4837
E-mail irena.tvarijonaviciute@stat.gov.lt
www.stat.gov.lt
© Department of Statistics to the Government of the Republic of Lithuania (Statistics Lithuania)
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Document updated: 2008 05 29