Lithuania GDP Growth Rate YoY

In January 2015, Lithuania became a member of the Eurozone. Due to the 2008 global financial crisis, the country suffered a 14.8% decline in the GDP in 2009. Nevertheless, since 2010, Lithuania has been regarded as one of the EU's fastest-growing economies.  Domestic consumption, which accounts for 63% of total GDP use, is the most important component of GDP, followed by gross fixed capital formation (19%) and government expenditure (17%). Exports of goods and services make for 81% of total GDP, while imports account for 79%, resulting in a net contribution of 2% to total GDP. Among the most important sectors in terms of output are the wholesale and retail trade, transport, accommodation, and food service activities sector, which accounts for around 32% of total GDP. It is accompanied by industry (which accounts for 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%), and agriculture (4%), financial and insurance (2%), arts, entertainment and recreation, repair of household goods and other services (2%).