Industrial Production in Lithuania
Lithuania recorded an average industrial production growth rate of 5.5% in the decade to 2022, well above the Euro Area's average of 1.1%. In 2022, Lithuania's industrial production growth was 10.3%. For more industry information, visit our dedicated page.
Lithuania Industry Chart
Lithuania Industry Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Industrial Production (ann. var. %) | 5.2 | 3.6 | 0.2 | 20.4 | 9.8 |
Industrial activity drops at sharpest rate since July in December
Industrial output declined 7.4% in year-on-year terms in December, which was a larger contraction than November's 3.5% decrease. December's figure marked the worst reading since July. The reading was primarily driven by a sharp drop in manufacturing output. In addition, electricity, gas, steam and air conditioning output contracted heavily. On a seasonally adjusted monthly basis, industrial production fell at a quicker rate of 1.5% in December (November: -1.3% mom). Meanwhile, the trend improved significantly, with the annual average variation of industrial production coming in at minus 13.9% in December, up from November's minus 16.1% reading.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Lithuanian industry projections for the next ten years from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Lithuanian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Lithuanian industry projections.
Want to get access to the full dataset of Lithuanian industry forecasts? Send an email to info@focus-economics.com.
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