Last year, people borrowed more for larger purchases than for immediate consumption
Although the amount of consumer credit granted fell by 16% last year, the average amount of credit increased by 46%, from €1 231 in 2020 to €2 048 in 2021, according to the latest statistics from the Bank of Lithuania. The total amount borrowed by consumers also increased by 23%, reaching €390 million in 2020 and €481 million last year. According to experts in the consumer credit market, this change indicates that more people are borrowing for larger, well-thought-out purchases and are less likely to indulge in impulse purchases.