Industry in Lithuania

Lithuania Industry | Economic News & Forecasts

Lithuania - Industry

Industrial output contracts at the sharpest rate in over six years in April

Industrial production dived 10.9% year-on-year in April, worsening from the previous month’s 1.1% drop and marking the sharpest contraction since March 2014.

The downturn chiefly reflected sliding output in the all-important manufacturing sector. In a similar fashion, water supply, sewerage, waste management and remediation activities contracted at a steeper pace in April. That said, activity in both the mining and quarrying; and electricity, gas, steam and air conditioning supply sectors rebounded in April, softening the overall blow somewhat.

On a month-on-month basis, industrial output plunged 8.3% in seasonally- and working-day adjusted terms in April, contrasting a 0.7% increase in March and marking the largest drop in nearly eight years. Meanwhile, industrial production was flat in annual average terms, deteriorating from growth of 2.3% in March.

FocusEconomics panelists project industrial production to fall 6.8% in 2020, which is down 2.6 percentage points from last month’s projection. For 2021, our panel forecasts industrial output growth of 3.8%.

Lithuania - Industry Data

2014   2015   2016   2017   2018  
Industrial Production (annual variation in %)0.0  4.4  2.9  6.9  4.9  

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Lithuania Industry Chart

Lithuania Industry
Note: Annual variation of industrial production in %.
Source: Statistics Lithuania and FocusEconomics calculations.

Lithuania Facts

Value Change Date
Bond Yield0.430.0 %Dec 30

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