Analytics, Industry, Latvia, Markets and Companies

Compared to January 2009 industrial production volume in February 2009 has reduced by 0.5%, according to seasonally adjusted data². Of which in manufacturing – by 0.7%, in electricity and gas supply – by 0.1%, but in mining and quarrying there was an increase of 1.4%. The most notable reduction of industrial production volume was observed in the manufacture of other transport equipment (building of ships and boats, manufacture of railway locomotives and rolling stock) – by 13.9%, in manufacture of wearing apparel – by 13.5% and in manufacture paper and paper products – by 12.1%.

Volume index of manufacturing (2005=100)

Compared to previous month industrial production output in February of this year grew in manufacture of motor vehicles, trailers and semi-trailers – by 17.9%, in manufacturing of chemicals and chemical products – by 16.2%, in printing and reproduction of recorded media publishing, printing and reproduction of recorded media – by 5.6%, in manufacture of wood and of products of wood and cork – by 2.7% and in manufacture of basic metals – by 2.4%.

Compared to February of previous year in February 2009 industrial production output has reduced by 24.2%, according to working day adjusted data. Of which in mining and quarrying – by 6%, in manufacturing – by 28.3%, but in electricity and gas supply – by 8.2%. Most significant decrease of the industrial production output was recorded in manufacture of textiles – by 61.1%, manufacture of motor vehicles, trailers and semi-trailers – by 59.2% and in manufacture of non-metallic mineral products – by 48%.

Changes in volume indices of industrial production in February 2009 (at constant prices)

More information on seasonally adjusted, working day adjusted and non-adjusted industrial production volume indices is available in the data base of CSB.

¹ Data are compiled on economically active enterprises, which in industrial production employ 20 and more persons, or in which industrial turnover previous year exceeded LVL 300 thsd.

Industrial production volume in accordance with the Statistical Classification of Economic Activities NACE 2.rev. includes Mining and quarrying (Section B), Manufacturing (Section C) and Electricity, gas, steam and air conditioning supply (Section D), except Steam and air conditioning supply ( group 35.3).

² The influence of varying number of working days in the month and factors of seasonal repetition, i.e., seasonal fluctuations of goods produced in selected economic activities, has been eliminated.