Analytics, Industry, Latvia, Statistics

International Internet Magazine. Baltic States news & analytics Friday, 23.08.2019, 05:53

In February, industrial production output in Latvia fell by 3.2%

Mārīte Baranova, Industrial and Construction Statistics Section, 03.04.2019.Print version
Data compiled by the Central Statistical Bureau of Latvia (CSB) show that, compared to February 2018, in February 2019 industrial production output1 decreased by 3.2% (according to calendar adjusted data at constant prices). The drop resulted from the decline in electricity and gas supply (of 25.9 %; in production of electricity in hydro power plants and combined heat and power (CHP) plants, as well as gas distribution to consumers). Output rise, in its turn, was recorded in manufacturing (of 5.7%) and mining and quarrying (12.4%).

Compared to the corresponding month of the previous year, industrial production output increase was recorded in the sectors having the largest share in manufacturing – manufacture of wood and of products of wood and cork, except furniture (of 4.8%), manufacture of food products (2.1%), and manufacture of fabricated metal products, except machinery and equipment (20.4%). Output upturn was registered also in manufacture of computer, electronic and optical products (of 20.8%), manufacture of electrical equipment as well as repair and installation of machinery and equipment (18 %), and manufacture of machinery and equipment (16.4%).

Industrial production output decline, in turn, was registered in manufacture of wearing apparel (of 16.8%), manufacture of paper and paper products (10.6%), and manufacture of furniture (2.4%).

Compared to January 2019, in February 2019 industrial production output grew by 0.9% 

(according to seasonally adjusted data at constant prices), of which by 1.9% in manufacturing, by 1% in mining and quarrying, whereas in electricity and gas supply there was a drop of 2.8%.

Manufacturing turnover

Compared to February 2018, in February 2019 manufacturing turnover increased by 11.7% (according to calendar adjusted data at current prices). Turnover on the domestic market went up by 9.1% and in export by 12.9% (of which by 20.2% in euro area and by 7.3% in non-euro area).

Compared to January 2019, in February 2019 manufacturing turnover rose by 0.3% (according to seasonally adjusted data). Turnover on the domestic market went down by 1.7% while in export up by 1.3% (of which by 2.6% in euro area and by 0.2% in non-euro area).


Methodological explanations

1 The volume index of industrial production describes changes in the volume of industrial production during the reference period in comparison to the base period. The index is estimated by recalculating the production output indicator at constant prices with the help of producer price indices.

2 The industrial turnover index measures the monthly development of market demand for industrial goods and services. It is calculated at current prices without excluding price influence. Unlike industrial goods that also include unfinished goods and goods in stock, turnover only includes the goods sold and industrial services provided.


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