News

2015.12.31 09:24

Lithuanian export downturn predicted by producers and exporters

ELTA 2015.12.31 09:24

In the upcoming months, Lithuania's producers and exporters predict a decrease in Lithuanian industrial exports. According to a poll distributed to the heads of industrial companies by Statistics Lithuania, 14 percent of businesses predict a decrease while 17 percent predict an increase (a month ago, these percentages were 12 and 31 percent, respectively).

In the upcoming months, Lithuania's producers and exporters predict a decrease in Lithuanian industrial exports. According to a poll distributed to the heads of industrial companies by Statistics Lithuania, 14 percent of businesses predict a decrease while 17 percent predict an increase (a month ago, these percentages were 12 and 31 percent, respectively).

The Lithuanian export economy suffered throughout 2015 due to Russian embargoes and that country's economic downturn, so many exporters have struggled to reorient their businesses towards other markets, like Scandinavia and the Eurozone.

22 percent of those surveyed said they expected to increase production over the coming months, while 19 percent expected to decrease production. In November, these figures were at 19 and 29 percent respectively. The biggest numbers in both production and export decline are projected by beverage, construction material and electrical equipment companies.

The majority of respondents (81 percent) had no plans to change their staff numbers, while 7 percent planned to hire more employees.

23 percent of respondents said that production demand increased. 22 percent of those polled said that it had contracted (compared to percentages of 25 and 22 percent a month ago, respectively).

 In December, the Industrial Confidence Indicator went down by 9 percentage points. On a year-by-year basis, the confidence indicator did not change.