Lithuania Industry July 2021


Lithuania: Industrial output growth moderates amid less favorable base effect in July

August 21, 2021

Industrial output increased 13.0% in year-on-year terms in July, moderating from June's 21.2% increase. July's result came amid a less favorable base effect and was largely driven by slower growth in manufacturing and mining and quarrying output.

On a monthly basis, industrial output dropped 2.0% in seasonally-adjusted terms in July, contrasting June’s 0.1% uptick and marking the worst result since April 2020. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at plus 10.2% in July, up from June's 9.0% reading.

FocusEconomics panelists project industrial production to increase 8.5% in 2021, which is up 1.6 percentage points from last month’s forecast, and 4.2% in 2022.


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Lithuania Industry Chart

Lithuania Industry July 2021

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Lithuania and FocusEconomics calculations.

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