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Friday, 26.04.2024, 01:20
In May, industrial production output in Latvia grew by 9.9% y-o-y
Compared to the corresponding month of the previous year, industrial
production output rise was observed in most of the manufacturing sectors,
including those having the largest share in the industrial production – manufacture
of wood and of products of wood and cork (6.8%), manufacture of food products
(7.5%) and manufacture of fabricated metal products, except machinery and
equipment (1.5%). The most notable output increase was recorded in high- and
medium-high-tech industries: manufacture of electrical equipment (51.1%),
manufacture of machinery and equipment (26.5%), manufacture of computer,
electronic and optical products (24.9%), and manufacture of basic
pharmaceutical products and pharmaceutical preparations.
Compared to April 2017, in May 2017 industrial production output grew by 1.7% (according to seasonally adjusted
data at constant prices), of which by 3.1% in manufacturing, whereas in
electricity and gas supply and in mining and quarrying there was a decline of
2.6% and 0.2%, respectively.
Volume index of manufacturing (2010=100)
Changes in industrial production output, % (at constant prices)
|
January–May 2017 compared to January–May2016 (calendar adjusted) |
May 2017 compared to |
|
April 2017 (seasonally adjusted) |
May 2016 (calendar adjusted) |
||
Total
production |
9.1 |
1.7 |
9.9 |
Mining and
quarrying |
17.1 |
-0.2 |
21.3 |
Manufacturing |
7.2 |
3.1 |
9.4 |
Manufacture
of food products |
2.7 |
1.9 |
7.5 |
Manufacture
of beverages |
13.6 |
-6.4 |
10.2 |
Manufacture
of textiles |
1.6 |
7.5 |
7.4 |
Manufacture
of wearing apparel |
11.4 |
1.2 |
14.4 |
Manufacture of wood and of products of wood and cork, except furniture |
2.2 |
5.3 |
6.8 |
Manufacture of chemicals and chemical products |
12.4 |
-1.5 |
6.7 |
Manufacture of other non-metallic mineral products |
7.7 |
2.8 |
11.4 |
Manufacture of fabricated metal products, except machinery and equipment |
6.3 |
2.9 |
1.5 |
Manufacture of computer, electronic and optical products |
29.4 |
-4.7 |
24.9 |
Manufacture
of electrical equipment |
28.7 |
7.8 |
51.1 |
Manufacture of machinery and equipment |
10.8 |
12.3 |
26.5 |
Manufacture of motor vehicles, trailers and semi-trailers |
13.6 |
10.3 |
18.3 |
Manufacture
of furniture |
8.4 |
2.1 |
7.7 |
Repair and installation of machinery and equipment (repair and
maintenance of ships and boats, repair of fabricated metal products,
machinery and equipment, installation of industrial machinery and equipment) |
-1.0 |
-3.0 |
-16.7 |
Electricity
and gas supply |
14.4 |
-2.6 |
9.8 |
Manufacturing turnover2
Compared to May 2016, in May 2017 manufacturing turnover
increased by 9.1% (according to calendar adjusted data at current
prices).Turnover on the domestic market grew by 6.2% and in export by 12.6% (of
which by 15.2% in euro area and by 10.7% in non-euro area).
Compared to April 2017, in May 2017 manufacturing turnover rose by
3.3% (according to seasonally adjusted data). Turnover on the domestic market
went up by 2.2% and in export by 4.5% (of which by 4.4% in euro area and by 4.9%
in non-euro area).
More information on seasonally adjusted, calendar adjusted and non-adjusted
industrial production volume and turnover indices (including by sector) is
available in the CSB database section 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.