Main Features of Advanced Technology Industries in Lithuania

Abstract

The process of Lithuanian economics transformation underwent the evident shifts of manufacturing industry’s structure having faced the drastic decline of demand for produced commodities after 1991. The traditional sectors were more flexible to adapt to changes of market demand, thus, they became prevailing Lithuanian industry’s sectors distinguished by low technological susceptibility. Nevertheless, the development of advanced technology industries in Lithuania still remains an actual and relevant scientific issue. The practice of foreign countries’ economic development reveals the role of advanced technology industries, which are expected to play an important part in the functioning and development of the economy. The competitive abilities of advanced technology industries are facilitated by stimulating the progress of science, technique and innovations, sustaining the investment into the scientific research on new products and technology renovations. The aim of the article is to reveal the main features of the performance of Lithuanian advanced technology industries and analyse the changes of the main indicators which make up the profile of these industries. However, the empirical study revealed that development of advanced technologies in Lithuania, except chemical industry, is still a slow process, thus, the issue considering their potential remains an actual problem.

DOI: 10.5901/mjss.2015.v6n6s1p158