After a major recession, with one of the sharpest declines in real GDP across the EU in 2009, the Lithuanian economy showed a remarkable recovery. On average, real GDP grew at 4.1 % of GDP over the period 2011-2014. Initially driven by rapid export growth, the recovery increasingly relied on domestic demand. Since 2013 private consumption has taken over as the main growth engine, supported by rising wages, falling unemployment and subdued inflation. Real GDP has surpassed its previous peak and the current account balance has moved from a deficit to a surplus.
Read a complete analysis of Lithuania's economy in the country report 2016 [2 MB]
2015 recommendations in brief
The Commission has made three country-specific recommendations to Lithuania to help it improve its economic performance. These are in the areas of: public finances, pensions and taxation; education, taxation on labour and health; labour market.