Lithuania enters technical recession after economy shrinks 3% in Q1

In the first quarter of 2023, Lithuania’s gross domestic product (GDP) amounted to EUR 15.8 billion at current prices. Compared to the last quarter of 2022, the real GDP change, seasonally and calendar adjusted, was negative and stood at -3 percent, the State Data Agency said on Tuesday.

The estimate was obtained through application of econometric models based on available statistical data.
According to the agency, it is the second consecutive quarter of negative GDP growth in Lithuania. In the fourth quarter of 2022, real GDP growth was negative by -0.5% after removing the seasonal and working day effects.