Skyline in Lithuania

Lithuania Industry

Lithuania Industry

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

Note: This chart displays Industrial Production (annual variation in %) for Lithuania from 2022 to 2019.
Source: Macrobond.

Lithuania Industry Data

2019 2020 2021 2022 2023
Industrial Production (ann. var. %) 3.6 0.2 20.4 9.8 -6.2

Industrial output growth dips in May

Industrial output rose 4.7% year on year in May (April: +5.4% yoy). Looking at the details of the release, manufacturing production grew at a slower rate in May, as did mining and quarrying output. Additionally, electricity, gas, steam and air conditioning output declined at a faster rate. On a monthly basis, industrial output fell 1.3% in seasonally adjusted terms in May, contrasting April’s 3.9% expansion. Meanwhile, the trend improved significantly, with the annual average variation of industrial production coming in at 0.9% in May, up from April's flat reading.

Consensus Forecasts and Projections for the next ten years

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 6 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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