Baltic Export, EU – Baltic States, Lithuania, Markets and Companies

International Internet Magazine. Baltic States news & analytics Thursday, 24.01.2019, 03:07

Lithuania's engineering industry faced with challenges on European course

BC, Vilnius, 31.01.2018.Print version
The bulk of Lithuania's engineering industry exports goes to the European Union (EU) market, however, the successful sector features alarming signs, Lietuvos Zinios daily said on Wednesday, cites LETA/BNS.

"A clear tendency of the past five years – the constant increase in exports volumes to Scandinavian counties (…). Rapid growth of salaries and labor costs along with a moderate increase of productivity in Lithuania's engineering industry may threaten the development of the sector. We are 25% behind the average EU labor productivity," Darius Lasionis, acting chief of the Association of Lithuanian Engineering Industries (LINPRA), told the daily.

In his words, successful performance of metal industries will be increasingly dependent on modern management, introduction of efficient process management systems, digitization, automation and high-quality of employee training.

According to Lietuvos Zinios, over 75% of output of Lithuania's engineering industries is exported, with over 80% of the exports going to the EU. Lithuania's engineering industries cooperate with world-level companies, such as ABB, Valmet, Konecranes, General Electrics, Bosch, etc.

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