Opportunities in Lithuanian market
One of three Baltic countries, benefiting from a name of the geographical centre of Europe, is rapidly breaking away from the stereotype of an emerging market and establishing itself as a serious high added-value export player. The sectors in which it is excelling include ICT, life sciences, electronic and laser industries as well as more traditional sectors such as textile, furniture and food, all of which are analyzed in depth in Business sectors section.
Briefly about Lithuanian industries
- Lithuania has the largest ICT industry in the Baltic States with an outstanding potential both for local as well as foreign expanding businesses.
- Lithuania’s life sciences sector is the fastest growing in the EU. Annual growth reaches 25 %.
- Lithuania accounts for more than half of the global market of pico-second laser spectrometers. With 10% of the global market, Lithuania is one of the main exporters of femtosecond lasers systems in the world.
- Lithuania is emerging fast as a key electronics manufacturing hub in the Baltic region. The country is renowned for its electronic, computer and optical products.
- Lithuania’s textile and clothing industry, maintaining its centuries-old traditions, today is actively investing in creating unique brands and contemporary design, in effort to develop products with higher added value.
- The Lithuanian furniture, wood processing has long-standing traditions in producing high quality products.
- Lithuania has also become one of the EU’s primary transport hubs. The country ranks 29th globally according to the World Bank’s Logistics Performance Index.
- The combination of relatively low labor costs and sophisticated automation systems gives Lithuanian machinery and equipment a competitive edge.
- Modern printing houses and paper industry companies increasingly offers their services to customers abroad.
- Chemicals and plastics, the two closely related sectors, stand out as some of the best-established industrial activities in Lithuania.
- The main advantage of Lithuanian construction companies is a highly qualified engineering team.
- The Lithuanian clean technology industry is gradually gaining a more significant share of the country’s total exports.
- The food sector produces a major share of the total value created by Lithuanian producers.