Analytics, Covid-19, Industry, Latvia, Markets and Companies

Significant production output decline, compared to the corresponding month of the previous year, was still registered in repair and installation of machinery and equipment (of 34.9 %), manufacture of motor vehicles, trailers and semi-trailers (20.7 %), manufacture of wearing apparel (19.4 %) and manufacture of textiles (16.4 %). Production output also decreased in two out of the three sectors having the largest share in industrial production: manufacture of wood and of products of wood and manufacture of fabricated metal products, except machinery and equipment (of 1.9 % and 8.9 %, respectively). In turn, manufacture of food products remained at the level of the previous year.

Even though in June manufacturing still was negatively affected by COVID-19 crises, compared to the previous months, this impact has decreased. Production output increased in almost one third of manufacturing sectors, of which the most significant upturn was registered in manufacture of basic pharmaceutical products and pharmaceutical preparations, manufacture of other transport vehicles equipment and manufacture of computer, electronic and optical products. Manufacturing output rise was also registered in manufacture of chemicals and chemical products (of 21.8 %), printing and reproduction of recorded media (3 %) and manufacture of electrical equipment (1.6 %).

Compared to May 2020, in June 2020, industrial production output rose by 7.5 % (according to seasonal adjusted data at constant prices). It was affected by the output increase in manufacturing (of 4.5 %), mining and quarrying (3.1 %), as well as electricity and gas supply (24.3 %).

Changes in industrial production output (as per cent, at constant prices)

* Repair and maintenance of ships and boats, repair of fabricated metal products, machinery and equipment, installation of industrial machinery and equipment.

Compared to June 2019, in June 2020, manufacturing turnover, according to calendar adjusted data at current prices, reduced by 0.1 %, turnover in the domestic market fell by 3.7 %, but export turnover – increased by 2 % (of which by 1.4 % in euro area and by 2.6 % in non-euro area).

Compared to May 2020, in June 2020 manufacturing turnover, according to seasonally adjusted data, rose by 6.6 %, turnover in the domestic market increased by 2.6 % and export turnover – by 8.8 % (of which by 5.3 % in euro area and by 11.6 % in non-euro area).

The data published may be specified during the upcoming months if additional information is received.

More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production output and turnover indices, of which by sectors, is available in the CSB database „Industry”.

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.