BGI Consulting performed horizontal screening of Lithuania economy aimed at identifying limited number of sectors that are more economically important but relatively underperforming.
The research is based on the newest methodology for market monitoring developed by EC (more about the methodology: European Commission, „Replies To Lisbon Methodology (LIME) Working Group On Revised Market Monitoring Exercise“, Note for the LIME working group, 2009.). The approach consists of a three-dimensional analysis:
Economic importance
Market performance
Policy perspectives.
Market performance is evaluated on the criteria of three areas, namely integration, competition and innovation. The following sectors were identified as more economically important but relatively underperforming:
Agriculture, hunting and related service activities (NACE 1. code 01)
Manufacture of furniture; manufacturing n.e.c. (36)
Collection, purification and distribution of water (selected on the basis of policy perspectives) (41)
Construction (F)
Retail trade, except of motor vehicles and motorcycles; repair of personal and household goods (52)
Land transport; transport via pipelines (60)
Supporting and auxiliary transport activities; activities of travel agencies (63)
Post and telecommunications (64)
Other business activities (74)
According to EC methodology, the identified sectors are analyzed deeper in order to reveal the reasons of underperforming. At this stage BGI Consulting has performed deeper analysis for Construction and Rail transport sectors. The other sectors are object for further researches.
Lithuania is one of the first countries that applied the newest EC methodology for market monitoring. The researches have been also performed in Belgium and Italy.
The research is commissioned by Ministry of Economy of Lithuania.