| Abstract [eng] |
According to the Lithuanian macroeconomic reviews provided periodically by the Lithuanian department of statistics and various banks, the Lithuanian furniture manufacturing sector is one of the main manufacturing sectors which generates a large part of the country value added. The sector creates a lot of jobs place’s and maintain relatively high wage levels of jobs also 68 percent’s products are exported abroad. This only proves that the Lithuanian furniture manufacturing sector is important both for the entire economic situation of the country and for every consumer. However, there is a lack of economic insights from foreign and Lithuanian researchers who would analyse the impact of macroeconomic factors in the performance of companies in this sector. Object of research. Performance results of Lithuanian furniture manufacturing companies. Purpose of research. To identify macroeconomic factors affecting the performance of Lithuanian furniture manufacturing companies. Task of research: 1. To discuss the importance of the furniture manufacturing sector to the national economy and the relevance of environmental factors to the activities of companies. 2. To study the indicators describing the activity of companies and the operating environments of companies. 3. Identify macroeconomic factors that may affect the performance of companies. 4. To determine the relationship between macroeconomic factors and sales revenue of Lithuanian furniture manufacturing companies. 5. To perform the forecast of sales revenue of Lithuanian furniture manufacturing companies in 2021. Based on the analysis of scientific literature, it was found that the main macroeconomic factors influencing the performance of companies are gross domestic product, inflation, unemployment rate, wages, international trade balance, foreign direct investment. Sales revenue was chosen as an indicator representing the company’s performance in a macroeconomic context. After analysing the indicators, according to the regression analysis, it can be stated that an increase in the volume of gross domestic product by 1 percent would increase the sales revenue of enterprises in the furniture manufacturing sector by 1,59 percent’s. 1 percent an increase in unemployment would lead to a decrease in sales revenue of 0,80 %. A 1 % increase in government debt is expected to have a positive impact on revenue in the furniture manufacturing sector, which would increase by 0,94 %. Sales revenue would increase by 1,04 % if the national average wage increases by 1 %. Meanwhile, a one percent increase in imports and exports would increase sales revenue by 1,73 percent and 1,60 percent respectively. The impact of foreign direct investment is also important, and if this indicator increases by 1 %, the sales revenue of the furniture manufacturing sector would grow by 1,15 %. |
