According to the data of Statistics Lithuania, in the second quarter of 2013, Lithuania's GDP, seasonally and working day adjusted, increased by 4.1% compared to the responding period in 2012. Vilija Tauraite, Chief Analyst at SEB Lithuania, points out that value-added production increased in many sectors, therefore, the growth of Lithuania's economy in April-June was well balanced, that is, the dominance of export in respect of domestic demand slightly decreased, writes LETA/ELTA.

"Monthly data of production or sales volume prove it. For example, in the second quarter in 2013 industry production increased by 9.3% at current prices compared to the second quarter in 2012, while the volume of retail increased by 5.1%," said Tauraite.

According to the analyst, the growth of retail was the strongest since the beginning of 2012; in addition, food sales had begun to increase noticeably for the first time after the economic crisis.

The latest indicators of Lithuania's economy growth give cause for optimism – in the first half of 2013 annual growth of economy reached impressive 4.2%. It might seem that it is time to relax since Lithuania stands on its own two feet, yet, according to Jekaterina Rojaka, Head of Economic Research Unit at DNB Markets, it might turn out that Lithuania's economy has feet of clay and might crumble very soon.

According to Rojaka, economic growth in Lithuania will slow down in the second half of 2013. It will be determined by unfavourable environment in foreign markets and comparatively high base of the last year. Global economy is significantly slowing down: the growth of emerging markets, which last year accounted for about half of global GDP, this year decreased by almost a half. Meanwhile, Russia, the closest and most important trade partner, is forecasted to suffer from stagnation this year.