Analytics, Industry, Latvia, Markets and Companies

Prices of products exported to euro area countries increased by 0.6%, but prices of products exported to non-euro area countries decreased by 0.2%.

Over the month, the most significant impact on producer prices was made by the price drop in manufacture of basic pharmaceutical products and pharmaceutical preparations, as well as of wood and of products of wood and cork, except furniture. Manufacture of computer, electronic and optical products, manufacture of selected food products, as well as manufacture of chemicals and chemical products had upward effect. 

Producer price changes in April 2020 (as %)

In April 2020, compared to April 2019, the average level of producer prices in Latvian industry fell by 2.1%. The level of prices of products sold on the domestic market reduced by 2.6%, and prices of exported products decreased by 1.7%. Prices of products exported to euro area countries fell by 1.8%, but prices of products exported to non-euro area countries – by 1.5%.

Manufacture of wood and of products of wood and cork, except furniture, had the most significant downward impact on the producer price changes during the year. Manufacture of selected food products had upward effect.

This year, information on producer prices in industry is provided by more than 600 enterprises, which inform the CSB about approximately 2.4 thousand prices every month – 1.3 thousand of which are related to products and industrial services sold on the domestic market and 1.1 thousand relating to prices on the export markets, with the respective information being then used for index calculations.

Information on producer price changes in industry on May 2020 will be published on June 19.

Report on producer prices in industry for April was provided by 99.1% enterprises. The total data imputation number has increased by 1%, as compared to March, and it does not differ significantly from previous periods. General producer price index in industry corresponds to quality requirements and is considered to be reliable.