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Lithuania’s January manufacturing growth impressed experts

Kęstučio Vanago/BFL nuotr. / Suvirintojas
Šaltinis: BNS

The growth of Lithuania’s manufacturing sector was impressive in January, SEB Bankas’ chief analyst said.

“It seems that the results got brighter after the last quarter when the industry was staying close to the zero level or even showed a slight negative development. Now we have a solid increase, in particular, an impressive increase of more than 10 percent [an annual increase of 10.7 pct in Jan] in the manufacturing sector excluding petroleum products,” Vilija Tauraitė told BNS in comments about the latest industry figures.

The data for January did not show a clear trend as yet but there were signs that industry got more focused on domestic market, she said.

“There is no more of that reckless push to foreign markets and, of course, it will be one of the major challenges for the industrial sector, at least in the first half of this year, to look for those new export layers more intensively,” the analyst said.

Lithuania ’s industrial output and sales rose by 4 percent in January compared with a year ago, to 5.939 billion litas (EUR 1.72 billion). The workday adjusted growth rate was 2.3 percent, Statistics Lithuania reported earlier on Wednesday.

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