Analytics, Industry, Latvia, Markets and Companies

Compared to December 2014, in December 2015 manufacturing turnover decreased by 1.6% (according to calendar adjusted data).

The reduction was due to turnover decline in domestic market – of 6.3%, while in export there was a growth of 5% (of which 21.9% increase in eurozone, while in non-eurozone – a drop of 2.7%).

Quarterly changes

Compared to the 3rd quarter of 2015, in the 4th quarter of 2015 manufacturing turnover increased by 0.3% (according to seasonally adjusted data). Manufacturing turnover in export rose by 2.5% (of which by 1.1% in eurozone and by 3.9% in non-eurozone), while domestic market witnessed a decrease of 1.6%.

Compared to 4th quarter of 2014, in 4th quarter of 2015 manufacturing turnover fell by 0.9% (according to calendar adjusted data). Turnover in domestic market dropped by 5.7%, whereas in export it grew by 5.1% (of which 30.4% increase in eurozone, while in non-eurozone – a drop of 7.6%).

Annual changes

Compared to 2014, in 2015 manufacturing turnover decreased by 1.2% (according to calendar adjusted data at current prices). In domestic market turnover reduced by 5.4%, whereas in export it rose by 4.1%. Increase in export was affected by turnover rise in eurozone (of 25.8%), while turnover in non-eurozone went down by 7.4%.

Changes in turnover of selected manufacturing sectors, in 2015 over 2014 (as per cent, calendar adjusted data)

More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production turnover indices is available in CSB database section Industry. In future CSB will publish monthly manufacturing turnover statistics 5 days earlier – together with industrial production output statistics. Industrial production statistics on January 2016 will be published on March 7.

Methodological explanations

Industrial Turnover Index characterises monthly changes in demand for industrial goods and services on the market. It is calculated at current prices, not excluding the effect of prices, as a weighted index, using industrial turnover in breakdown in domestic market and exports as the weights. Unlike industrial goods that also include unfinished goods and goods in stock, turnover only includes the goods sold and industrial services provided.