2014-02-07 19:15:02 - Lithuania Freight Transport Report 2014 - a new market research report on companiesandmarkets.com
Lithuania has seen robust economic growth, due to improvements in household consumption and strong exports, and has prompted a revised forecast of 3.4% year-on-year (y-o-y) real GDP growth, up from our previous forecast of 2.6%. This growth is reflected the country´s freight sector, particularly the air freight sector, which is forecast to see growth of 9.68% y-o-y in 2014. Rail freight is also showing signs of steady, though modest, growth over our forecast period.
Lithuania´s freight industry closely correlates with the health of the eurozone and in particular, the country´s biggest trade partner, Russia, as these are the country´s largest export markets. Therefore, the strength of the euro plays a key role in Lithuania´s exports too.
Growth in Lithuanian exports of goods
and services remained in the double digits, averaging 14.6% yearon- year (y-o-y) in the first two quarters of 2013. Although higher household consumption and rising fixed investment have resulted in higher imports of goods and services growth, which accelerated to 14.0% y-o-y in Q213, average quarterly import growth in H113 stood at 12.7% y-o-y, moderately underperforming export growth and thus providing a net positive impact on headline economic growth in H113.
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