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Thursday, 28.03.2024, 15:22
In August, industrial production output in Latvia rose by 12.1%
Compared to the
corresponding month of the previous year, significant industrial production
output increase was observed in manufacturing sectors having the largest share
in the industrial production: manufacture of wood and of products of wood and
cork (of 10.9%), manufacture of food products (6.5%), manufacture of fabricated
metal products, except machinery and equipment (34.9%). Notable increase was
registered in manufacture of motor vehicles, trailers and semi-trailers (of
49.1%), manufacture of chemicals and chemical products (30.5%), manufacture of
machinery and equipment (of 21.9%), which was influenced by the rise in demand
for this production in external markets.
Compared to July 2017, in August 2017 industrial production output went up by 1.2% (according to seasonally
adjusted data at constant prices), of which by 1.6% in manufacturing, and by
0.3% in electricity and gas supply, whereas in mining and quarrying there was a
decline of 1.6%.
Changes in industrial
production output (as %, at constant prices)
|
January–August 2017, compared to January–August 2016(calendar adjusted) |
August
2017, compared to |
|
July 2017 (seasonally
adjusted) |
August
2016 (calendar adjusted) |
||
Total
production |
9.4 |
1.2 |
12.1 |
Mining and
quarrying |
18.8 |
-1.6 |
20.4 |
Manufacturing |
8.5 |
1.6 |
12.1 |
Manufacture
of food products |
4.7 |
0.0 |
6.5 |
Manufacture
of beverages |
10.2 |
11.3 |
7.1 |
Manufacture
of textiles |
1.2 |
-5.0 |
1.9 |
Manufacture
of wearing apparel |
9.5 |
-8.9 |
3.1 |
Manufacture of wood and of products of wood and cork, except furniture |
3.0 |
2.1 |
10.9 |
Manufacture of chemicals and chemical products |
17.7 |
10.0 |
30.5 |
Manufacture of non-metallic mineral products |
9.4 |
1.6 |
9.6 |
Manufacture of fabricated metal products, except machinery and equipment |
11.8 |
1.4 |
34.9 |
Manufacture of computer, electronic and optical products |
20.8 |
-0.8 |
3.3 |
Manufacture
of electrical equipment |
24.8 |
-2.5 |
7.7 |
Manufacture of machinery and equipment |
18.6 |
2.5 |
21.9 |
Manufacture of motor vehicles, trailers and semi-trailers |
20.5 |
17.5 |
49.1 |
Manufacture
of furniture |
6.9 |
6.6 |
4.9 |
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) |
1.1 |
3.8 |
20.2 |
Electricity
and gas supply |
12.0 |
0.3 |
10.6 |
Manufacturing turnover2
Compared to
August 2016, in August 2017 manufacturing turnover increased by 16.1%
(according to calendar adjusted data at current prices).Turnover on the
domestic market grew by 14.5% and in export by 18.1% (of which by 29.6% in euro
area and by 9.8% in non-euro area).
Compared to July
2017, in August 2017 manufacturing turnover rose by 3.5% (according to
seasonally adjusted data). Turnover on the domestic market went up by 2.1% and
in export by 5.2% (of which by 7% in euro area and by 8.5% 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.