Latvia's industrial output slightly up in June

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Data published August 3 by the Central Statistical Bureau of Latvia (CSB) show that, compared to June 2021, in June 2022 industrial production output increased by 0.7 % (according to calendar-adjusted data at constant prices). 

The increase was caused by the output upturn in manufacturing of 3.1 %. However, production output decline (due to the reduction in the volume of electricity produced by combined heat and power plants and gas supply to consumers) was registered in electricity and gas supply (of 15.8 %) as well as mining and quarrying (7.8 %).

Compared to the corresponding month of the previous year, the most notable manufacturing output rise was registered in manufacture of basic pharmaceutical products and pharmaceutical preparations, manufacture of other transport equipment, manufacture of motor vehicles, trailers and semi-trailers (of 18 %), manufacture of textiles (12.9 %) as well as manufacture of beverages (10.3 %).

Output downturn, in its turn, was recorded in manufacture of machinery and equipment not elsewhere classified (of 15.1 %), manufacture of computer, electronic and optical products (12.4 %), and  two out of three sectors having the largest share in manufacturing: manufacture of wood and of products of wood and cork, except furniture (10 %) and manufacture of food products (0.2 %).

Compared to May 2022, in June 2022 industrial production output fell by 2.1 % (according to seasonally adjusted data at constant prices). Of which, output in manufacturing dropped by 1.5 %, in mining and quarrying by 3.5 %, and electricity and gas supply by 1.4 %.

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