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Economic Development Scenario (September 2017)

Economic Development Scenario for 2017–2020 (September 2017)

Table 1. Key macroeconomic indicators

IndicatorsESA 2010 code20162017201820192020
1. Real Gross Domestic Product (GDP), rate of change, per centB1*g2,33,62,92,52,4
2. Real GDP, million EurB1*g34423,335649,836682,337614,338534,1
3. Nominal GDP, rate of change, per centB1*g3,56,95,34,34,1
4. Nominal GDP, million EurB1*g38637,441309,343516,745373,947253,8
5. Labour productivity (real GDP per one employed person), rate of change, per cent0,33,83,23,02,9
Real GDP components, rate of change, per cent
6. Household consumption expenditureP.35,64,23,73,53,5
7. Government consumption expenditureP.31,61,51,21,01,0
8. Gross fixed capital formationP.51-0,56,36,04,44,3
9. Exports of goods and servicesP.63,59,36,66,56,3
10. Imports of goods and servicesP.73,910,37,46,86,4

ESA – The European System of National and Regional Accounts

Table 2. Price developments

Indicators20162017201820192020
rate of change, per cent
1. GDP deflator1,23,22,41,71,7
2. Household consumption expenditure deflator0,93,52,72,52,5
3. Government consumption expenditure deflator2,74,02,72,02,0
4. Gross fixed capital formation deflator0,52,02,02,02,0
5. Exports of goods and services deflator-2,03,72,01,71,7
6. Imports of goods and services deflator-4,33,61,72,02,0
7. Harmonised index of consumer prices (average annual)0,73,52,72,52,5

Table 3. Labour market developments

Indicators20162017201820192020
1. Number of employed persons (acc. to Labour Force Survey methodology), thou.1361,41358,71354,61349,21343,8
2. Number of employed persons (acc. to Labour Force Survey methodology), rate of change, per cent2,0-0,2-0,3-0,4-0,4
3. Unemployment rate (acc. to Labour Force Survey methodology), percentage7,97,06,45,95,4
4. Average monthly gross earnings, EUR774,0838,3889,9945,21003,8
5. Average monthly gross earnings, rate of change, per cent8,48,36,26,26,2
6. Annual fund for wages and salaries, million EUR9924,610769,911399,112059,012755,3
7. Annual fund for wages and salaries, rate of change, per cent9,18,55,85,85,8

Table 4. Basic assumptions

Indicators20162017201820192020
1. USD / EUR exchange rate*1,1071,0801,0901,0901,090
2. World GDP, rate of change, per cent**3,03,43,63,63,6
3. EU GDP, rate of change, per cent**1,91,91,91,91,9
4. Main export markets, rate of change, per cent1,51,81,91,91,9
5. Oil prices (Brent, USD / barrel)*44,051,651,451,451,4

Main export markets rate of change is estimated as a weighted average of EU and CIS GDP rates of change. Weight corresponds as a share of Lithuania's exports to these regions.
* Technical assumption published by the European Central Bank (June 2017)
** Technical assumption published by the European Commission (May 2017)

Last updated: 12-11-2023