Analytics, Baltic, EU – Baltic States, Good for Business, Industry, Latvia, Lithuania, Statistics

In May this year, industrial production in Latvia picked up 5.1% against May 2015.

Of the EU members reporting their data, only Slovakia (+6%) and Ireland (+5.8%) showed an even steeper rise in industrial production.

Over the past year, industrial production increased in 16 EU member states, while nine countries, including Lithuania and Estonia, reported a decline. Industrial production slowed 3.7% in Malta, 3.3% in Bulgaria, 2.4% in Portugal, 1.9% in Estonia, 1.1% in Romania, 0.6% in

Italy, 0.3% in Germany and 0.2% in Lithuania.

In monthly terms, industrial production grew in four EU member states in May - by 3.9% in Lithuania, 2.4% in Latvia, 0.6% in Slovenia and 0.3% in Malta.

Denmark's industrial production rate remained unchanged from May, and the other 20 member states reported a decline. The biggest drop was recorded in the Netherlands where industrial production slowed 7.8%.

Across the EU, industrial production grew 1.1% y-o-y and dropped 1.1% m-o-m in May. In the Eurozone, industrial production rose 0.5 % y-on-y and 1.2 % m-o-m.