FX.co ★ Lithuanian Industrial Production Grows 4.3%

In January, Lithuania witnessed a significant growth in industrial output, primarily driven by substantial expansion within the utility sector, according to data from Statistics Lithuania.

The data revealed an adjusted industrial production growth of 4.3% year-on-year for January. In particular, substantial growth was experienced within electricity, gas, steam supply, and air conditioning sectors, which collectively grew by 22.3% year-on-year. The manufacturing sector also enjoyed expansion with a growth of 2.0%.

However, it was not good news for all sectors. Mining and quarrying experienced a severe decline in output, dropping sharply by 24.3% in January compared to the previous year.

Within the major industrial groups, production of energy products enjoyed significant growth, seeing an increase by 16.0% year-on-year for January. Intermediate goods also saw an uplift with a rise of 2.2%.

As for the month of January, the industrial production experienced a seasonally adjusted growth of 7.1%.