| Abstract [eng] |
The thesis analyzed is relevant, because the engineering industry in Lithuania is a highly prospective industrial sector. Lithuania has all the necessary resources to expand and develop the industry. The development of industrial engineering sector has a significant impact in the growth of the gross domestic product, new jobs creation, foreign investment attraction as well as infrastructure developments and scientific progress. It is important that the export development methods would coincide with the factors most affecting the export of this sector. Subsequently analyzing these factors, it would be possible to purposely steer new investments to more swiftly develop the engineering industry and its export. Research object: Determinants of Lithuania's engineering industry's exports development. Research goal: To analyze what are the main factors driving Lithuania's engineering exports growth. Engineering industry’s exports are growing more rapidly than the overall exports of Lithuania. Revealed comparative advantage index shows that Lithuania has a competitive advantage in producing and exporting plastics, steel, iron and its products, as well as photography, cinematography, measuring and medicine instruments and equipment. The main challenges Lithuania’s engineering industry faces are shortage of labour supply and decreasing demand, nonetheless the industry’s current situation and outlook are favorable. In European context, Lithuania’s exports are growing faster than other EU countries. Still, engineering industry’s exports make up only a minor part of the overall countries exports. Exports have a significant impact on country's economic growth. In this paper export factors are separated into economic, marketing, logistics and taxation prospects. The export aspects that are chosen to be analyzed in this paper are the following: inflation, R&D costs, direct foreign investments, GDP, labour productivity index, average salary, education spending and foreign currency exchange rates. For the exports to grow it is essential to focus not only on the positive factors, but also to note any challenges that might occur and avoid them. The research concluded that Lithuania’s engineering exports different branches are affected by inflation, R&D costs, GDP growth and education spending. GDP growth has a minimal effect on the various separate branches of the engineering industry, however R&D costs have a significant and meaningful impact on the industry’s branches that are closely connected to exports. Research results show that inflation notably affects the export of plastic and rubber products, while R&D costs influence exports of electronic, optical components and machines. Furthermore, it is established that costs for education have an effect on the growth of electric machines export. In addition, the growth in this sector is also impacted by growth in GDP. Moreover, GDP growth also impacts other various not specified machine and equipment exports. Vehicles and its components exports are affected by GDP growth and R&D. |
