Off the wire
• Spanish stock market rises 2.62 pct, closes at 8,815 points  • Tensions rise in Lebanon's Arsal over jihadists' clashes across border  • British mother convicted of joining IS in Syria  • 2nd LD Writethru: Syria talks start as scheduled in Geneva  • Spanish princess to stand trial as final appeal fails  • Dutch F-16 fighters to join bombing of IS targets in Syria  • British FTSE 100 rises 2.56 pct on Friday  • LME base metals increase on Friday  • Aalborg, Vilnius, Belfast adjudged European cities with highest quality of life  • UN Security Council concerned about indefinite postponement of elections in Haiti  
You are here: 　 Home

Lithuania's GDP growth slowest in five years

Xinhua, January 30, 2016 Adjust font size:

Lithuanian economy grew by 1.7 percent in 2015, announced Statistics Lithuania on Friday.

According to Statistics Lithuania, Lithuania's real GDP grew by 2.1 percent in the fourth quarter.

The pace of Lithuania's economic growth was the slowest in five years.

"The added value of manufacturing, wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, accommodation and food services are the main drivers of GDP growth in 2015," Vilija Lapeniene, the head of Statistics Lithuania, told the news conference.

In 2014, the country's real GDP grew by 3 percent.

Economists from SEB bank in Lithuania highlighted the slowdown in the growth of retail trade. In December, retail trade grew by 4.2 percent, compared to the same month a year ago. During 2015, the country's retail trade grew by 5.3 percent.

"It seems that domestic trade has somewhat lost its growth pace, and we have to move into 2016 with this unhappy news," Gitanas Nauseda, the advisor to the SEB bank president, said in an announcement from the bank.

The country's central bank expects Lithuania's economy to grow by 2.9 percent in 2016. Enditem