INVEST LITHUANIA: LITHUANIAN ECONOMY GREW MOST AMONG THE BALTICS OVER THE DECADE
In terms of economic growth rates over the past decade, Lithuania was leading among the Baltic States. SEB Bank‘s macroeconomic expert Dainis Gašpuitis points out that, during the period from 2000, Lithuania’s economy has grown on average by 5.3 % per year, while Estonia‘s – by 4.6 %, and Latvia‘s – by 4.3 %.
In the pre-crisis period of 2000 – 2007, Latvia had the fastest GDP growth with an average annual rate of 8.8 %. Estonia’s GDP annual rise comprised 8 %, while Lithuania‘s – 7.5 %. However, during 2008 – 2009, Latvia saw the most rapid GDP drop – 21.4 %, followed by Estonia with 17.2 %, and Lithuania with 12.4 %.
SEB Bank forecasts that this year and in 2012, Lithuania’s economy will increase by 4 % and 4.5 %, respectively. Latvia’s GDP is also expected to grow 4 % this year, and 4.5 % in 2012. According to SEB Bank’s estimates, Estonia’s GDP will climb by 5 % this year, and by 4.5 % next year .
