Evaluation of revealed comparative advantage of Lithuanian industry in global markets

Abstract

Industry is one of the main fields of manufacturing. The level of its development determines the economic power of the country, employment and social well-being. That is why it is extremely important to reveal the tendencies of industrial changes and identify the strongest and weakest industries. In the scientific literature, the issues of Lithuanian industrial structure are closely related to the aspects of competitiveness which become increasingly topical while evaluating the state of industry. Export of industrial products still remains one of the main factors determining the development and growth of Lithuanian economy. The analysis of the scientific literature revealed the lack of the research on general competitiveness of Lithuanian industry in global markets, evaluating it from the position of the goods exported. Therefore, the aim of this research is evaluation of the competitiveness of Lithuanian industrial products in global markets using Revealed Comparative Advantage index and Revealed symmetric comparative advantage index created on the basis of the first index during the period of 2007–2011.