Lithuania economy grows further in Q4

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Lithuania's economy expanded for a second straight quarter in the final three months of 2020, but shrunk for the whole year, as activity was hurt by the coronavirus pandemic for the most part of the year, preliminary figures from Statistics Lithuania (LS) showed on Friday.

Gross domestic product (GDP) grew a seasonally and working-day adjusted 1.2% from the third quarter, when the economy expanded a revised 3.8%.

In the second quarter, GDP fell 5.9% after stagnating in the first quarter. In the fourth quarter, the change in GDP was positively influenced by the results of professional, scientific and technical, industrial, wholesale and retail trade enterprises, the agency said. On a yearly basis, GDP decreased 1.3% in the fourth quarter after a 1.6% fall in the previous three months.

GDP decreased 1.3% for the whole year 2020.

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