Lithuania Industry April 2021

Lithuania

Lithuania: Industrial output soars to 17-year-high on low base effect in April

May 24, 2021

Industrial output rocketed 25.9% in year-on-year terms in April, gaining further momentum following March’s 16.4% rise and marking the sharpest increase since April 2004. This month’s reading was mainly driven by faster growth in manufacturing and energy supply output.

On a monthly basis, industrial output fell 2.4% in seasonally-adjusted terms in April (March: +4.7% mom) and marked the first contraction in six months. Meanwhile, the trend improved markedly, with the annual average variation of industrial production coming in at plus 4.1%, up from March’s 0.9%.

FocusEconomics panelists project industrial production to increase 5.0% in 2021, which is up 0.6 percentage points from last month’s forecast, and 3.7% in 2022.


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Lithuania Industry April 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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