ERNST & YOUNG: BALTIC COUNTRIES HAVE GROWN FASTEST IN EU IN 2011
Updated 2011-10-18
October 18, 2011, The Baltic Course, Invest Lithuania
In its recent Eurozone forecast produced in cooperation with Oxford Economics, Ernst & Young says that in the second quarter (Q2) of 2011 three Baltic economies grew most in the EU: Lithuanian gross domestic product (GDP) grew by 6.3 percent, Estonia posted growth of 8.4 percent, and Latvia's economic output increased by 5.7 percent.
Lithuania's Q2 GDP growth only proved the trends of recovery in country’s manufacturing industry, Ernst & Young says. In June, new industrial orders went up by as much as 5.6 percent, which raised the annual growth rate to 28.4 percent, the biggest growth in the EU.
Ernst & Young predicts that Lithuanian GDP will grow up to 5.5 percent this year, and will continue increasing at a stable pace up to 4.2 percent in 2012 and by 6.2 percent in 2013.
Estonia’s GDP is expected to grow by 7.2 percent in 2011 and to slow down to 3.8 percent in 2012. Latvia's economy is expected to grow by 4 percent this year, 3.5 percent in 2012 and 5.8 percent in 2013.
In its recent Eurozone forecast produced in cooperation with Oxford Economics, Ernst & Young says that in the second quarter (Q2) of 2011 three Baltic economies grew most in the EU: Lithuanian gross domestic product (GDP) grew by 6.3 percent, Estonia posted growth of 8.4 percent, and Latvia's economic output increased by 5.7 percent.
Lithuania's Q2 GDP growth only proved the trends of recovery in country’s manufacturing industry, Ernst & Young says. In June, new industrial orders went up by as much as 5.6 percent, which raised the annual growth rate to 28.4 percent, the biggest growth in the EU.
Ernst & Young predicts that Lithuanian GDP will grow up to 5.5 percent this year, and will continue increasing at a stable pace up to 4.2 percent in 2012 and by 6.2 percent in 2013.
Estonia’s GDP is expected to grow by 7.2 percent in 2011 and to slow down to 3.8 percent in 2012. Latvia's economy is expected to grow by 4 percent this year, 3.5 percent in 2012 and 5.8 percent in 2013.
