Lithuania grows 4.1% in 2Q 2013, shows one of the best growth rates in the EU
In the second quarter of 2013, Lithuania's economy grew by more than four percentage points and showed the second best performance in the European Union, latest statistics published by Eurostat reveal. Lithuania’s GDP growth rate in April-June 2013, compared to the same period last year, stood at 4.1% and was matched only by neighboring Latvia, whose GDP rose by 4.3%.
No other EU member state has scored more than 1.4%, thus leaving the two Baltic nations at the forefront of the EU’s economic recovery.
On a quarterly basis, Lithuania’s GDP grew by 0.6% against the first quarter of 2013, showing a fifth best result in the EU. Portugal topped the list with 1.1%, followed by Germany (0.7%), Finland (0.7%), and the Czech Republic (0.7%).
Meanwhile, the European Union's GDP has expanded by 0.3%, thus putting an end to the long-standing record of negative growth. Although the European Commission claims it is yet too early to say that the crisis in Europe is over, the figures themselves are encouraging.
If the growth figures in the third quarter of 2013 are again positive, the sustainability of the trend will be proven. This would mean the EU is recovering from its longest economic recession since the World War II.
The Eurostat report is available here.
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