Analytics, EU – Baltic States, Industry, Latvia, Markets and Companies

The growth in Non-eurozone was affected by product sales growth in manufacture of wearing apparel, in manufacture of fabricated metal products, except machinery and equipment, in manufacture of computer, electronic and optical products, in manufacture of furniture, and in manufacture of basic pharmaceutical products.

Compared to the previous month turnover decline was observed in manufacture of chemicals and chemical products – of 18.3% (of which in domestic market – of 6.1%, and in export – of 25.9%); in manufacture of machinery and equipment  – of 16.2% (decline in domestic market – of 48.2%, and growth in export – of 5.8%); in  manufacture of motor vehicles, trailers and semi-trailers – of 9.7% (in domestic market – of 19.3%, and in export – of 7%). Drop was recorded also in several manufacturing sectors having the largest share in industrial production: in manufacture of wood and cork articles – of 1.8% (decrease in export of 6.5%, and growth in domestic market of 2.3%), in manufacture of food products – of 2.8% (in domestic market – of 3.4% and in export – of 0.8%, which was affected by decrease in Non-eurozone of 2.8%, while in Eurozone there was a growth of 14.1%).

Compared to July, turnover increase in August was recorded in printing and reproduction of recorded media – of 9% (in domestic market – of 6%, in export – of 22.8%); in manufacture of wearing apparel – of 6.1% (in domestic market – of 12.7%, in export – of 4%); in manufacture of furniture – of 5.4% (in domestic market – of 7.4%, in export – of 3.1%), and in manufacture of fabricated metal products, except machinery and equipment – of 1.5% (in domestic market – of 1.7%, and in export – of 1.3%).

Changes in turnover of selected manufacturing sectors August 2014 as % of August 2013 (calendar adjusted data)

Data source: Central Statistical Bureau of Latvia

Compared to August 2013 manufacturing turnover in industry according to calendar adjusted data decreased by 6.1%, of which in domestic market – by 8.4% and in export – by 2.8% (of which in Eurozone – by 6.9% and in Non-eurozone – by 0.8%).

More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production turnover indices is available in the CSB databases.

¹ Industrial turnover index characterises monthly changes in demand for industrial goods and services on the market. It includes turnover of mining and quarrying, as well as of industrial enterprises at current prices. Industrial turnover breakdown by domestic market and export is used as weights. Unlike industrial goods, turnover index is not defined, i.e, price changes are not taken into account. Turnover only includes own-produced goods sold and industrial services provided.