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Wednesday, 24.04.2024, 11:34
In July, industrial production output grew by 8.8% in Latvia
Compared to the
corresponding month of the previous year, industrial production output increase
was observed in all manufacturing sectors having the largest share in the
industrial production: manufacture of wood and of products of wood and cork (of
2.6%), manufacture of food products (7.1%), manufacture of fabricated metal
products, except machinery and equipment (18%), manufacture of non-metallic
mineral products (14.1%), and manufacture of computer, electronic and optical
products (11.3%). Stable increase still was recorded in manufacture of
electrical equipment (of 18.3%), in which output growth was observed already
since the beginning of the year, and in manufacture of machinery and equipment
(of 18.2%).
Compared to June 2017, in July 2017 industrial production output went up by 0.1% (according to seasonally adjusted data at constant prices), of which by 4% in electricity and gas supply and by 4.3% in mining and quarrying, whereas in manufacturing there was a decline of 1%.
Changes in industrial
production output, % (at constant
prices)
|
January–July 2017 compared to January–July2016 (calendar adjusted) |
July 2017 compared to |
|
June 2017 (seasonally adjusted) |
July 2016 (seasonally adjusted) |
||
Total
production |
8.9 |
0.1 |
8.8 |
Mining and
quarrying |
18.5 |
4.3 |
28.6 |
Manufacturing |
7.9 |
-1.0 |
8.2 |
Manufacture
of food products |
4.4 |
-1.2 |
7.1 |
Manufacture
of beverages |
10.7 |
-11.1 |
-0.4 |
Manufacture
of textiles |
1.1 |
6.4 |
2.3 |
Manufacture
of wearing apparel |
10.4 |
-4.3 |
-1.4 |
Manufacture of wood and of products of wood and cork, except furniture |
1.9 |
-0.4 |
2.6 |
Manufacture of chemicals and chemical products |
16.2 |
-13.4 |
5.1 |
Manufacture of other non-metallic mineral products |
9.4 |
3.7 |
14.1 |
Manufacture of fabricated metal products, except machinery and equipment |
9.0 |
1.1 |
18.0 |
Manufacture of computer, electronic and optical products |
24.6 |
-1.0 |
11.3 |
Manufacture
of electrical equipment |
27.2 |
-4.1 |
18.3 |
Manufacture of machinery and equipment |
18.0 |
-5.2 |
18.2 |
Manufacture of motor vehicles, trailers and semi-trailers |
17.0 |
-3.6 |
13.1 |
Manufacture
of furniture |
7.3 |
-9.4 |
-1.3 |
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) |
-2.0 |
11.0 |
36.2 |
Electricity
and gas supply |
12.1 |
4.0 |
7.7 |
Manufacturing turnover2
Compared to July
2016, in July 2017 manufacturing turnover increased by 4.2% (according to
calendar adjusted data at current prices).Turnover on the domestic market grew
by 10%, while in export there was a decline of 1.9% which was influenced by
15.7% drop in non-euro area (rise in euro area constituted 19.1%).
Compared to June
2017, in July 2017 manufacturing turnover decreased by 2.2% (according to
seasonally adjusted data). Turnover reduction recorded in export constituted
4.7% (drop of 10.9% in non-euro area and rise of 1.1% in euro area), whereas
turnover on the domestic market went up by 0.3%.
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
1The 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.
2The 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.