Lithuania GDP Growth Rate QoQ

Lithuania was admitted as the 19th member of the Euro Area in 2015. The service industry accounts for the biggest share of Lithuania's GDP, with information and communication technologies representing the fastest expanding sector. Lithuania has also transitioned in recent years towards a knowledge-based economy, with a number of enterprises producing complex biotech items such as pharmaceutical ingredients, components for molecular diagnostics, and laser equipment.  When it comes to expenditures, household consumption is the most important component of GDP, accounting for 63% of total use. This is followed by gross fixed capital formation (19%) and government expenditure (17%). 81% of total GDP is accounted for exports of goods and services, while imports account for 79%, resulting in 2% of total GDP. On a production level, the wholesale and retail commerce, transport, accommodation, and food service activities sectors are the largest, accounting for roughly 32% of total GDP. Industry (23% of total GDP), manufacturing (19%), public administration, defense, education, human health, and social work activities (14%), construction (7%), real estate activities (6%), professional, scientific, technical activities, administrative and support services (6%),  information and communication (3%), agriculture (4%) financial and insurance (2%) and arts, entertainment and recreation, repair of household goods and other services (2%).