Analytics, Industry, Latvia, Markets and Companies

In domestic market turnover decreased by 0.9%, and in export – by 1.4%, of which in Eurozone – by 5.4%. In Non-eurozone sales volumes remained at the level of the previous month.

Turnover decrease in February, compared to the previous month, was observed in manufacture of fabricated metal products, except machinery and equipment – of 3.9% (drop in export – of 14%, and growth in domestic market – of 2.3%), in manufacture of motor vehicles, trailers and semi-trailers – of 3.5% (drop in export – of 6%, and growth of 5.1% in domestic market), in manufacture of food products – of 3% (decrease both in domestic market and export – of 0.8% and 8.8%, respectively), in  manufacture of chemical and chemical products – of 2.2% (of which drop in domestic market – of 4.9%, and in export – of 0.1%).

Turnover growth was recorded in manufacture of electrical equipment – of 4.6% and in manufacture of beverages – of 3.7%. In both these sectors turnover increased both in domestic market and export. In manufacture of textiles turnover grew by 3.3%, which was affected by sales growth in domestic market (in export there was a decline).

Changes in turnover of selected manufacturing sectors, February 2015 as % of February 2014 (calendar adjusted data)

Data source: Central Statistical Bureau of Latvia

Compared to February 2014 manufacturing turnover in industry in February 2015 according to calendar adjusted data decreased by 6.9%, which was affected by turnover drop of 13.1% in domestic market. Export markets witnessed a slight turnover growth of 1% due to turnover growth in Eurozone of 19.5% (in Non-euro zone there was a drop of 9.1%).

More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production turnover indices is available in the CSB database section Industry.